India continues to mature as a start-up hub with the number of new technology product start-ups expected to grow by 8-10%. The number of these start-ups in India was expected to cross 4,700 by the end of 2016. Incubators and Accelerators (I/A) in the country have played an important role in this growth by mentoring start-up founders, nurturing ideas, providing technical support, helping them generate funds, and acquiring new customers. The number of incubators and accelerators have grown by 40%, with more than 40 new ones added in 2016. Out of these, 30+ are academic incubators established under the ‘Start-up India Stand-up India’ initiative.
The incubators and accelerators are currently technology-driven, and seem to be industry agnostic. I/As can be broadly classified into four categories: Corporate, Independent, Academic, and Government-supported. Corporate and Independent mostly work on accelerator model, whereas Academic and Government-supported have an incubator-like model. The first edition of NASSCOM-Zinnov report titled “Incubators/Accelerators (I/As) Driving the Growth of Indian Start-up Ecosystem – 2017” throws light on the critical role that I/As play in the start-up landscape. It classifies the various types, provides a compilation of facts, trends, best practices, challenges and opportunities. This report also helps in understanding the role played by the government, corporates, and academic bodies in the growth of incubators and accelerators in India