Accelerators/Incubation - Opportunities For Students & Faculty - Early-Stage Entrepreneurs
Event Date: 29th October 2024
A session on ‘Accelerators/Incubation - Opportunities for Students & Faculty - Early-Stage Entrepreneurs’ was conducted on October 29, 2024 from 10 AM to 11:45 AM in Vivekanand Auditorium. The event was organised by Dr Surinder K Dhingra and was related to SDG-4. The resource person was Mr Kamal Kishor Malhotra – CEO (Chief Executive Officer, Galgotias Incubation Centre For Research Innovation, Startup & Entrepreneurs (GICRISE), Galgotias University, Greater Noida, Uttar Pradesh-203201. The objective of the event was to acquaint the students with the accelerators/incubation facility available for students and faculty in the university.
A session on ‘Accelerators/Incubation - Opportunities for Students & Faculty - Early-Stage Entrepreneurs’ was conducted on October 29, 2024 from 10 AM to 11:45 AM in Vivekanand Auditorium. The event was organised by Dr Surinder K Dhingra and was related to SDG-4. The resource person was Mr Kamal Kishor Malhotra – CEO (Chief Executive Officer, Galgotias Incubation Centre For Research Innovation, Startup & Entrepreneurs (GICRISE), Galgotias University, Greater Noida, Uttar Pradesh-203201. The objective of the event was to acquaint the students with the accelerators/incubation facility available for students and faculty in the university.
What Is a Startup Incubator?
A startup incubator helps you develop and refine high-potential startup ideas. Incubators often operate locally and provide a host of resources—such as physical space to access as needed—over a span of one to five years.
The benefits of joining an incubator include:
Guidance on developing a product from your idea
Help running experiments to prove product-market fit
On-demand access to resources
Legal consultation
A workspace shared with other entrepreneurs
Networking and mentorship opportunities
Funding in return for a stake in your company (although many don’t provide this)
Examples of incubators include:
TechNexus, which connects entrepreneurs with mature corporations to foster innovation and mutually beneficial relationships
Capital Factory, which acts as a self-proclaimed “center of gravity” in Texas for tech entrepreneurs aiming to raise funding
Seedcamp, which provides funding and resources to European tech founders
Wayra, which supports and connects tech founders to Spanish multinational telecommunications company Telefónica for investment and partnership opportunities
Harvard Innovation Labs (i-lab), which acts as an innovation hub and provides support to Harvard students and alumni, with specific resources for those in the life sciences
What Is a Startup Accelerator?
Startup accelerators are short, intensive programs that provide education, resources and mentorship if you’re an early- or mid-stage founder. Often cohort-based, accelerators are more structured than incubators and outline specific tracks to turn your startup into a scalable business. Some offer multiple programs targeted at different industries or venture stages.
Whereas incubators provide the environments and resources to help your ideas succeed, accelerators compress years’ worth of learning and growth into the span of a few months.
The benefits of joining an accelerator include:
Funding in return for a stake in your company
Immersive education on fundraising, product development, and growth marketing
Access to an alumni network and investor connections
Networking and bonding with your cohort
Intensive mentorship from industry leaders
Examples of accelerators include:
Techstars, which offers virtual, in-person, and hybrid three-month programs and invests up to $120,000 in each startup in exchange for six percent of the company
Founder Institute, which groups entrepreneurs into “Launch Track” or “Growth Track” programs to support early- and mid-stage startups
Y Combinator, which hosts a three-month program and provides $500,000 to each company in exchange for a seven percent share
AngelPad, which accepts only 15 tech startups to each of its three-month programs to create extremely selective, close-knit experiences
Startupbootcamp, which offers 21 programs focused on industries ranging from global clean energy to geography-specific finance technology (fintech).
The event ended with vote of thanks by Dr Surinde
Event Outcome: To acquaint the students with the accelerators/incubation facility available for students and faculty in the university.
Mentor Name – Dr. Jagannath Mohanty
Department Name – Department of Management
Related Goal