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Our “Technology Business Incubator (VIT-TBI)” has been selected by
infoDev (an agency founded and supported by World Bank) to execute a project under
its Incubator development initiative.
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Program Objective:
| The project would primarily focus on developing the Incubation capabilities in enhancing Value-added
services by raising awareness and reaching out to the innovators. | |
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The success of this initiative depends on the maximum support garnered from various agencies like Industries,
Banks, Venture funding agencies and other Incubators. Hence, a strong network among various agencies that are
catalytic to entrepreneurship and innovation is essential.
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Details about the project: |
About infoDev:
infoDev(www.infodev.org
) is an innovative global partnership of international development agencies focused on how information and
communication technologies (ICT) can help to combat poverty and promote opportunity, empowerment and economic
growth in developing countries.
This partnership is coordinated and served by an expert Secretariat housed at the World Bank, one of infoDev's
principal donors and founders
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| Specific Objectives of the project: |
a). Developing a business Eco system that would focus on creating a dynamic platform for generating
higher value across the entire incubation process. The key challenges would be addressed by collaborating with
Industries, Academia, Financial Institutions and policy makers in the regional, national and international levels.
b). Identifying around fifteen entrepreneurs / innovators and offer them complete support through an
accelerated Incubation process. Build partnerships with the industry in the local, national and international level.
Such partnerships would facilitate in addressing the gaps that prevail in the Supply Chain systems of such
organizations and to convert them into possible entrepreneurial opportunities.
Networking with Industry experts, Consultants and other Incubators in the local level and also from the
developing economies. This would enable in arriving at suitable strategies to develop a model business Eco system.
c). Documenting and disseminating the knowledge, experience and good practices emerging out from these
activities for the benefit of all the stakeholders in the business incubation system.
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| The following activities would be carried -out to meet the program objectives: |
a). Innovators Identification Camps:
Innovator identification camps would be held in Chennai and Coimbatore. A wide publicity in the local
media would help to reach out to potential innovators. Around 300 prospects in total are expected to attend
these events.
The Industry partners would project the emerging opportunities, technology requirements, gaps in the supply
chain. The Incubator partners would present their service offerings. The Bank / Venture Co partners
would present the schemes available.
The Prospects would also under go one to one counseling and finally around 15 to 20 projects / entrepreneurs would be inducted into the “Accelerated Incubation Program”
b). Accelerated Incubation Program:
This program would facilitate intensive business coaching, training
and Mentoring for a period of three months. The individuals would have prepared a detailed business plan by the end
of this training and would be ready commence the business activities.
VIT-TBI’s seed fund support scheme also would be integrated with this project to
enable the entrepreneurs to start the activities immediately.
By these positive interventions, a new model of business creation is expected to emerge.
c). Networking:
Partners from the neighboring developing
countries would be identified. They would be provided the necessary in puts to prepare them for a synergic association.
Learning Visits:
Since this project’s aim is to build a long-term
association to facilitate creation of cross-cultural ventures, a suitable Memorandum of Understanding would
be executed to institutionalize the partnering activities. VIT-TBI would undertake visits to the partnering institutions
and the partners would also visit select Indian Incubators during their trip to the networking event.
The visits would also pave way for learning from the experiences among the partners.
Networking event:
A South- South networking event to work out strategies and action steps involving Industries, Academia, Incubators and
entrepreneurs from the neighboring developing nations would be organised. The main focus of this event would be
to disseminate experience and exchange information among the Incubators in the region. The experience gained in the
conducting of Capacity Building workshops would also be shared with the participating Incubator community.
This event also to work out the steps to formulate collaborations in creating opportunities in ICT enabled
applications for Incubatees in the respective regions.
A discussion workshop “on creating a Knowledge platform” for the benefit of the entrepreneurs,
Incubators and other stakeholders.
A business opportunity exhibition would be held in the sidelines of the event
Around 35 Indian Incubators, members from Academia, other actors in the Enterprise development
including Policy makers would take part in this event. The Department of Science and Technology would also support
this event.
d). Creation of a Knowledge Portal:
The main purpose of the portal is to document and disseminate the knowledge, experiences
and good practices emerging out from these activities for the benefit of all the stakeholders
in the business incubation system.
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