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http://dx.doi.org/10.7545/ajip.2018.7.3.489

New Venture Incubation Framework: An Indian Academic Model  

Subrahmanya, MH Bala (Department of Management Studies, Indian Institute of Science)
Gopalaswamy, Arun Kumar (Department of Management Studies, Indian Institute of Technology Madras)
Publication Information
Asian Journal of Innovation and Policy / v.7, no.3, 2018 , pp. 489-510 More about this Journal
Abstract
Institution-based Technology Business Incubators are on the rise in India, as a means of promoting innovation-based tech start-up ecosystems, due to increased policy initiatives. Against this background, we have traced the origin and process of building a start-up ecosystem in IIT Madras, Chennai of India, based on semistructured interviews held with the stakeholders of the ecosystem. Subsequently, we have ascertained the key components of IIT Madras start-up ecosystem, and the process of incubation comprising pre-incubation, incubation and post-incubation phases. Finally, we have derived the key lessons from the ecosystem development experience and incubation process which enable generation of start-ups from both students and faculty, apart from alumni and ex-industry executives. Though this ecosystem model has emerged over a period of time through learning and experience, the ecosystem is able to generate more than 100 start-ups, majority of them being from students and faculty. Thus, the evolved start-up ecosystem of IIT Madras is able to generate faculty-supported and student-led entrepreneurship successfully.
Keywords
Incubators; start-ups; institution; IIT; Chennai; India;
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