Best Incubation Practices: An In-depth Framework for Indian Business Incubators

Abstract

Business Incubation centers has become very much popular term in the recent times. The incubation centers are being promoted for the economic development tool through the foster of the tech-based growth firms. Recent times governments have given the lots of efforts to invest in the incubators through wide ranges of schemes. Government has made this possible through the business incubation centers. Globally, the incubation centers are being considered a tool through which economic development of the countries can be progressed considering some of the factors like generating the revenue, number of employments, new technology development etc. In this paper, we researched the best practice variables identification requires a general incubation model which is considering the all the factors directly affecting the incubator processes. In this context, the aim of this paper is to develop a model that can serve as a basis for identifying best practice incubator models and for more rigorous evaluations of incubator performance. We bifurcate the incubation processes into three main categories: Pre-incubation, incubation and post-incubation. The model is general in nature therefore, any incubator can adopt while functioning the incubator. However, as per the goal and the type of the incubator, Manager can adopt the incubator with model with little bit modification.