The sole purpose for the existence of a ‘Startup Incubator’ is to help entrepreneurs & startups convert an idea into a successful business.
Startup Ecosystem In Madhya Pradesh
Known for its rich cultural heritage and natural resources, Madhya Pradesh, at the heart of India, is also one of the emerging startup ecosystems of India. Powered by a startup-friendly initiatives by the central as well as the state government itself, Madhya Pradesh earned its spot as one of the emerging startup ecosystems in DPIIT’s 2020-2021 annual report.
One of the interesting aspects about the state is the abundance of skilled technical workforce, thereby providing a tailor-made platform to promote startups in the state. In order to ignite the spirit of entrepreneurship and innovation for people in the state and converting ideas into potential businesses, the state government, in 2016, outlined a startup policy to provide an enabling environment to achieve this objective
On the back of which the state have been a consistent performer in the year-wise rankings of States/UTs in the State Reform Action Plans (SRAPs) from last four years.
Role Of Incubators As Ecosystem Enablers
Incubation support is an integral element of the startup ecosystem that supports entrepreneurs to grow their businesses and assists new startups to succeed. In order to promote startups, the state governments collaborate with organisations, corporates or industry associates to establish incubators, to support startups in the form of capital expenditure or operational expenditure.
Startup incubators are institutions that help entrepreneurs to develop their business, especially in the initial stages. Incubator support includes providing technological facilities and advices, initial growth funds, network and linkages, co-working spaces, lab facilities, mentoring and advisory support.
Startup incubators in India
Government’s startup policy gives prime role to incubators by giving them recognition, regulation guidelines and financial help. The identified incubators have to provide the various assistance to startups. Atal Innovation Mission promotes Atal Incubation Centres to realize its mission objectives.
Overall, there around 250 recognized incubators in the country (including the 56 under the startup policy) now and several of them are sponsored by esteemed educational institutions like IIMs, IITs and specialized startup agencies like Kerala Startup Mission.
Atal Incubation Centres (AICs)
AIM (Atal Innovation Mission) has supported the launch of incubation centres called Atal Incubation Centres (AICs) to create world class incubation facilities across India with suitable physical infrastructure. The AICs should provide capital equipment, operating facilities and experts for mentoring the start-ups, business planning support, supply of seed capital, providing industry partners, and trainings etc., required for encouraging innovative start-ups.
To take forward this initiative of the central & state government in the state of Madhya Pradesh, AIC-Prestige Inspire Foundation is working to make the startup ecosystem in the state more prominent and take it to the next level.
AIC-Prestige Inspire Foundation: Inspiring Innovators To Scale Up
AIC-PIF is a modern incubation center at Indore for in-campus and virtual incubation of startups. It functions under the Atal Innovation Mission Scheme of NITI Aayog, Government of India.
It supports innovative and disruptive start-ups to become viable business ventures start from next time. Overall ecosystem support to startups for prototyping, validation scaleup and expansion.
AIC-Prestige Is Helping Startups To Grow And Scale Up By Providing Them With
More than 40 Startups from different sectors viz. Healthcare, Med-tech, EVs, Edutech, SaaS along with other evolving sectors are currently getting incubated at AIC-Prestige. As we work with an objective to promote entrepreneurship wherein innovators and startups are supported and mentored to be successful entrepreneurs.