A recently released paper ‘Incubators in India-A Multilevel Study’ by IIMAhmedabad (IIM-A)’ says that the time duration between 2015 to 2018 recorded a very rapid expansion in startupS in these three states GUJRAT, MAHARASTRA, and KARNATAKA.
The study carried out by two professors of IIM-A says that compared to metro cities, the growth rate of startupS in non-metro centers was very high. Analysis of the startupS also suggested that over 60% of the Indian setups were housed within educational institutes. The other startupS were supported by businesses, industry bodies, or ministries.
“Gujarat followed a similar model. The majority of universities/institutes have a startup center, most affiliated to government schemes,” said Vohra. “Many of them are taken the state government’s support, such as the availability of Rs 10 lakh for product development and an equal amount for marketing products.” Vohra continued: “Our estimates tell us that there may be over 180-200 startups that received such support. In terms of sectors, we see startups in pharma, industrial manufacturing, education, and energy sectors, among others supported by these centers.”
“We find initiatives like SSIP hold immense promise as they enable students/ alumni experiment, build and fail fast while pursuing their degree/course,” she said.
Of the 284 startupS covered in the study, 90% were set up after 2000, and 70% of them were set up between 2008 and 2018. Government and sectoral push along with favorable business climate could be the possible reason for the hike, said researchers.
The business advice, connection with mentors, domain experts, and assistance with fund-raising were found to be the most common services, whereas assistance with branding and support with physical infrastructure was the least common.
Needs For Growing The Startups
The analytics interviewed the startup founders to understand their needs in the startup ecosystem. Some of the needs include connecting with specialized mentors and experts in the subject, help in connecting customers and vendors, and suggestions on branding and brand building and better processes to remain engaged.
