Technology and Business Incubation in India-Challenges and Opportunities
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Code : ENT0021C
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Region : india
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Introduction: The concept of technology and business incubation (TBI) emerged in the U.S. in the 1960s. The Batavia Industrial Center, opened in Batavia2, New York in 1959, was considered to be the first business incubator. A Business Incubator was a facility designed to assist businesses to become established and sustainable during their start up phase. However, this concept did not reach many until the late 1970s. During the 80s, the industry experienced significant growth as many recognized the value of creating and expanding new businesses to maintain local economies. Many people started developing incubators to support new ventures and entrepreneurship. The concept gradually started gaining attention, and twelve incubators developed in the U.S. However, a few from the community restrained themselves from supporting the concept as they felt that it would restrict common economic development strategies related to the expansion of large companies. During the same period the concept reached UK and Europe by means of innovation centers and technology parks. In the late 1990s, there were nearly twenty five incubation environments in the U.K.
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