India has the third largest number of startup incubators and accelerators in the world after China and the US. There are100+ accelerators and incubators and 56,000 startups in our country as of March 2018. Out of the total start-ups in India, 9 per cent startups are funded, 1 per cent acquired and 16 per cent dead-pooled which indicates to an opportunity for accelerators and incubators in India to mold and nurture startups on their journey to success.
It is now the fifth year since the introduction of Companies Act 2013 and notification of Section 135 Schedule VII(ii) that allows the companies to channel their CSR spending into a Technology Based Incubator, approved by Department of Science and Technology. In the past three decades, incubators have been the most prominent public policy tool used by the Government of India to promote entrepreneurship through start-ups. These incubators act as intermediary agents designed to nurture start-ups with innovative, risky ideas into marketable products by providing infrastructure, support services and rich linkages to other actors of the innovation system.