A Business Incubation Center offers ‘entrepreneurs in residence’. Meaning Experts or mentors who are still working in their respective business or industry, whose real life experiences and success & failures help start-ups & new entrepreneurs navigate the road to their individual business set up. And then there are Incubators specializing in niche businesses, like exports, financial analysis, Outsourcing, and many others.
Incubation Centers help strengthen the candidate’s enthusiasm and desire to pursue business interests. The new entrepreneurs may need guidance, knowledge, consultancy and somewhat an “office set up” to start with low recurring expenses.
Some incubators ( people who join Business Incubation center ) are fresh after studies, some may be diversifying into another business interest and yet some will be first timers into business after employment. These people come to Incubation center with little fears, more worries. Fear of “will-I-be-able-to-do-it” and worries of failures.
The Incubation Center provides them with warmth, security and a “like-minded” group to work with. This “incubation” environment helps nurture the confidence and helps get them get success with less setbacks and time.
The Incubators share a part of the cost among all the incubators, they also pitch in for the professional fees for services of mentors, professionals and experts from the Industry. Infrastructure, overheads and equipments are all shared. Hence the financial burdens and risks are all shared.
Export Incubation Centers have opened recently in Ahmedabad & Surat. These cater to entrepreneurs who are interested to quick start their Export businesses. These Incubation center provides full time export mentors & supports the incubators from searching buyers, documentation to customs and shipping.
The first hand feedback is that in just six weeks candidates have kick started their export business with systematic processes and commendable success.
Sure, confidence is pumped in through these incubation centers into fresh entrepreneurs.