Virtual Incubations, the next level for Start-up Incubation

No. PR- 167

December 21, 2020

New Delhi

Virtual Incubations, the next level for Start-up Incubation

We have to support incubation centers to develop virtual models to cater to the future needs, deliberated Mr. Manglesh R. Yadav, Innovation Lead, Atal Innovation Mission, NITI Aayog in a webinar organized by PHD Chamber of Commerce and Industry on ‘Virtual Incubation’.

Mr. Manglesh R. Yadav while talking about the mission and objective of Atal Innovation Mission and Incubation centers mentioned that our incubation center’s growth is accelerating and we need to support them with the right human resources in the ecosystem to cater to the future needs. We are planning to establish more centers in the smaller towns and tribal areas of the country. Mr. Yadav emphasized that virtual incubations offer a lot of learning opportunities at the global level. We need to build hybrid models for building this eco-system.

Mr. Chintan Bakshi, Chief Executive Officer, Startup Oasis while discussing the impact of the pandemic on the start-up incubation industry mentioned that the pandemic has opened a plethora of opportunities for which we need to change our process of conducting training programs and experience of the incubation centers. Due to the pandemic, there is an increase in virtual mentoring and, international mentors have to ease in mentoring start-ups. There is an increase in the efficiency of backhand processes and we are focusing on making sessions more informative and interactive.

Prof. Harvinder Popli, Director, DPSRU Innovation, and Incubation Foundation shared her insights and views on virtual incubation and its importance. She also gave an overview of the market about the incubation set up and the cross benefits of Virtual Incubation programs that will help the start-ups to get better mentoring, increase their connections and amplify their business via efficient tools and services. She mentioned that there is a need for global entrepreneurs to understand the Indian market and vice versa. Virtual Incubation gives flexibility to mentor more start-ups. We need to identify areas of physical and virtual incubation for different verticals so that the programs can run smoothly.

Dr. P. J. Singh, CMD, Tynor Orthotics Pvt. Ltd mentioned that virtual incubation will be the new normal but physical incubation will always help cater to every small need for the start-ups. In future times, there needs to be a balance between physical and virtual incubation for the better mentoring and growth of the industry.

Mr. Erik Azulay, Director, Alliance for Commercialisation and Innovation Research (ACIR) gave his perspective on the best practices of virtual incubation programs. It can reach everyone with ease in less time involving less cost.

Mr. Ashish Aggarwal, Chair, Startup Committee, PHD Chamber of Commerce and Industry while moderating the technical session, mentioned that the objective of the webinar is to understand how virtual incubation will be beneficial to all stakeholders of the industry so that it can benefit the industry in the post-pandemic times. He emphasized that Virtual Incubation needs to be in the smaller towns of the country so that they can be benefits from them as well.

The webinar was moderated by Dr. Jatinder Singh, Director, PHD Chamber of Commerce and Industry, and was attended by many industry stalwarts pan-India.`


Media Division

PHD Chamber of Commerce and Industry