T-Hub Wins Startup India, DPIIT’s Bid to Lead a Capacity-Building Program for 30 Incubators in India3 years ago Saritha Keshamoni
- The objective of the bid is to create an acceleration program for incubation managers that will provide them with mentorship as well as exposure to the domestic and global incubation and innovation ecosystem.
- T-Hub, along with Wadhwani Foundation, will lead the program to provide continued support and mentorship.
- Incubators can apply for the program now, and the selected 30 will get access to a 10 months’ acceleration program designed for incubation managers.
T-Hub, which leads India’s pioneering innovation ecosystem, won a bid organised by Startup India’s DPIIT. T-Hub has been chosen to lead a capacity-building program for incubation managers from 30 select incubation centres across India. Startup India, DPIIT’s aim is to train business incubation managers and support them through 1:1 mentorship to create a successful startup ecosystem. T-Hub, in partnership with Wadhwani Foundation, will design and implement the acceleration program to act as a growth hack for these select incubators and help them succeed.
Five applications were shortlisted for this bid, and T-Hub was selected based on its rich and successful experience of running various programs for its key stakeholders, such as startups, corporates, government and ecosystem enablers.
The call for applications for incubators in India is now open, and interested centres can apply here. The program will begin in March 2020 by onboarding the incubators.
The key outcome of the program is to enable and empower incubators to:
- Design a world-class entrepreneur support program that covers all aspects of incubation, such as a. sourcing and selection, b. incubation and startup building, c. community engagement, d. monitoring and tracking
- Develop sustainable business models for the incubator
- Provide all requisite support, infrastructure and services to startups
- Have access to a network of mentors, investors and other ecosystem stakeholders
- Create viable, investable startups and attract investors
Ravi Narayan, CEO of T-Hub, said, “The future of incubation in India will rest on the ability to look beyond short-term gain and enable startups to pursue the path of continuous innovation. This program will address the challenges faced by emerging-market incubators in their local and regional startup ecosystems and help them get on the fast-track to growth. T-Hub will bring its vast experience and expertise in running this capacity building program for incubators in India.”
Dan Kranzler, Head, Venture Fastrack, Wadhwani Foundation and Senior Partner, Capria Ventures, said, “The Incubator and Startup Ecosystem in emerging economies like India can benefit greatly from the process-driven incubation model being used by the best incubators in the world. Through our Incubator Edge training program, we bring our in-depth understanding of global best practices of incubators and are offering it to incubator managers in the form of a holistic, integrated and customized curriculum designed especially for incubator manager
in the Indian Context.”
T-Hub, in consultation with Startup India, will develop a monitoring mechanism to track the progress of participant incubators during and on completion of the program.
Participating Incubator managers can look forward to the following:
- Get an understanding of process-driven incubation with in-depth knowledge of crucial elements of a successful incubator.
- Apply process-driven methods to design a string incubator model for their organisation.
- Design the selection process, define the unique value proposition, develop partnerships, create a brand and sustainable revenue sources for their incubator.
- Define a robust cohort selection process with the right selection criteria aligned with their incubator objectives.
- Design and plan programs for incubation managers that move them towards business viability and investment readiness.
- Know how to forge corporate relationships while understanding the unique expectations of corporate partners.
- Design a robust, sustainable revenue model for their incubator.
- Design a dashboard to monitor the progress of their startups.
- Develop a working relationship with other incubators and ecosystem stakeholders through the program.