Policy makers, academics, corporates and incubation managers discuss different ‘Models of Incubation’

The Centre for Innovation Incubation and Entrepreneurship at IIM, Ahmedabad organized a workshop on Models of Incubation for Enterprise Creation in Higher Education Institutions. The workshop was supported by the Department of Science and Technology, Government of India. Role of Incubators in building the Indian entrepreneurial ecosystem, inter-linkages between higher education institutions and Incubators and the financial sustainability of the incubators were some of the broad areas that were discussed. Policy makers, academics, corporates and Incubation managers participated in the workshop.

The workshop commenced with a panel discussion on “Emerging Role of Incubators in the Indian Higher Education System”, moderated by Mr. Sunil Parekh: Advisor, ZydusCadila Health Group and the key speakers being Mr. HK Mittal: Secretary, Technology Development Board, Prof. Pankaj Chandra: Professor, IIM Bangalore , Mr. Shoaib Ahmed: President, Tally Solutions. Exposing the existing environment on the ground Mr. HK Mittal initiated the discussion by questioning whether or not Educational institutions are best places to start Incubators. Further, the key advantages of an Educational institution such as environment of research, equipment for testing, knowledge and challenge of commercialising the plausible research and innovation were elaborated by Prof. Pankaj Chandra. Throwing a different angle Mr. Shoaib Ahmed argued that the educational institutions should focus on changing the “The Defensive mind-set” in the Indian society towards business. The discussion co-ordinated by Sunil Parekh suggested that incubators can potentially play an effective role for such enterprises where market failures are high and where innovation driven enterprises not only require funding but also a nurturing academic environment and mentoring.

A presentation by Prof Rakesh Basant of IIM, Ahmedabad and Prof Sarah Cooper of the of the University of Edinburgh compared models of incubation and enterprise creation in UK and Indian HE institutions. It was argued in the presentation and in the subsequent discussions that in the context of HE institutions sustainability and efficacy need to be seen more broadly. It should include, apart from the number of enterprises created and the financial sustainability, it should include the economic impact in the region and creation of learning opportunities in the host educational institution. Such an approach would enhance the efficacy and the organizational sustainability of the incubators.

Most of the incubation centers across in HE institutions across the world are not financially sustainable and depend on State and University funds. A panel discussed the ways of making these incubators financially viable. Arumugam: Board Member, CIIE, Manak Singh: Chief Evangelist, ASCENT & Former Executive Director, TiE Mumbai, VivekPrakash: GM CSR, Jubilant, discussed the possibility/challenges in various sources of funding in incubators. Recent policy change in India permits corporates to use their CSR money to support incubators. The panel discussed different ways through which such monies can be mobilized. It was argued that matching of broader social objectives of the corporates and the incubators may be desirable for achieving this goal.

In a presentation Ms. Sunita Singh: Sr. Director, National Entrepreneurship Network, The Wadhwani Foundation elaborated on Developing Metrics for Measuring Impact of Incubators”. The discussion involving panellistsMadhu Mehta: Chief Mentor, iCreate , Mahesh, CEO NID Design Incubator and Prof MR Dixit of IIM, Ahmedabad discussed a variety of impact measures. It was argued that while measuring the impact, one should take into consideration the type of incubator and the needs of the various stake-holders. It was also suggested that an appropriate measurement of impact would also help raise resources to make incubators financially viable. This will include corporates who wish to use their CSR money to support incubators.

The workshop concluded that efficacy and sustainability of incubators have various dimensions and one should be sensitive to these dimensions while evaluating the impact of such endeavours.

This workshop was organized as a part of Global Entrepreneurship Week (GEW). GEW, in which 140 countries are participating, will be celebrated across 29 cities with more than 150 events across India between November 18 and 24 this year.