Incubator projects are easy to come by in the world of business. When heard of originally, the word “incubator” tends to bring up images of a medical apparatus that is used to provide babies a protective environment in hospitals. In the business dictionary, the definition of an “incubator” refers to a space that provides help and support to a premature entrepreneurial venture.
When we relate the two definitions, we understand that incubators are designed to help in the growth of an infant start-up by providing workspace, funding opportunities, workshops, mentoring, and training. They are collaborative organizations that can act as long-term support systems for businesses.
India’s economy owes a part of it to the different start-ups and, young innovations that have cropped up across all directions. The creativity and production levels are always at a high. To date, many have been successful in aiding the evolution of their start-ups into financially stable businesses. However, factors like investments, resources, space, guidance, and the everyday struggle to succeed, are what makes, and breaks, a business idea. For instance, one could be taking some time off in their kitchen garden, when they might have a lightbulb moment about a gardening apparatus that aids in removing multiple weeds in one go. From our everyday do-it-yourself hacks to those typical Indian jugaads, everything is an innovation that makes life easier. These innovations can be made into a business idea. But how does one start?
Let’s go back to the example of the weeding apparatus. We know that a pair of scissors could do the effortless work as well. But what if one wants to try out an environment-friendly method, without the use of metal products? Now that can be a new innovation. The next step would be finding the suitable products to make that innovation come alive. However, these innovations might need finesse in order to start a mass production that would sell to the consumers. On top of that, investments would be required, along with enough space to start production. This is where an incubator comes into play.
From offering training programs to letting out workspaces, incubators are institutions that help channel creative ideas of individuals, into tangible results. And they even offer long term support to ventures, which leads to greater success rates. These spaces foster individuals with and without any formal training or education. Compare an incubator to an academic institute that educates and empowers the youth into bringing out their full potential, complete with necessary infrastructure and scholarships. Incubators are similar, but with technical infrastructure, and investment opportunities. Enough to bring out the full potential of a creative mind.
We at The Hub Jorhat, strive to be the go-to institute which offers a sustainable incubation ecosystem for the individuals of the North-east region.
The availability of innovative minds and equally useful resources of the region can come together to create indigenous methods that promote socio-cultural development, as well as the economic development of the people. Success is all about teamwork and guidance, and that is what The Hub Jorhat aims to stand for.