NIOS Class 10 Entrepreneurship Chapter 16 Introduction to Incubation Solutions to each chapter is provided in the list so that you can easily browse through different chapters NIOS Class 10 Entrepreneurship Chapter 16 Introduction to Incubation and select need one. NIOS Class 10 Entrepreneurship Chapter 16 Introduction to Incubation Question Answers Download PDF. NIOS Study Material of Class 10 Entrepreneurship Notes Paper 249.
NIOS Class 10 Entrepreneurship Chapter 16 Introduction to Incubation
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Introduction to Incubation
Chapter: 16
Intext Questions 16.1
State whether the following statements are true or false:
(a) Incubators are organisations providing only shared spaces.
Ans: False.
(b) Incubators are the same as Accelerators.
Ans: False.
(c) Only capital is provided by Incubators.
Ans: False.
(d) Professional service is one of the services provided by Incubators.
Ans: True.
Intext Questions 16.2
State whether the following statements are true or false:
(a) Incubators provide long-term facilities to the organisation.
Ans: True.
(b) Providing space does not include a conference hall.
Ans: False.
(c) The consulting activities are restricted to only marketing issues.
Ans: False.
(d) Those who are accepted by incubators gain legitimacy in the business community.
Ans: True.
Intext Questions 16.3
Fill in the blanks:
(a) Nudge Foundation, backed by _________, launched ________.
Ans: Infosys co-founder Nandan Nilekani, N-Core.
(b) ________, ________, __________ are hubs with more than _________ of all incubators and accelerators concentrated in these areas.
Ans: Banglore, Mumbai, Delhi.
(c) India has _________ incubators and has inched past _____________.
Ans: 140.
(d) Most incubators in India are run by _____________.
Ans: Academic Institutions.
Intext Question 16.4
(a) SINE nurtured several ventures. Name any two.
Ans: Webaroo, Bhugol GIS.
(b) For whom and when is Technology Business Incubator IIT established?
Ans: Innovation and Technology Transfer, 2000.
(c) Which incubator has tied up with SIDBI?
Ans: Indian Angel Network.
(d) Which incubator is tied up with DST?
Ans: Techno Park.
| Terminal Questions |
1. Define an incubator.
Ans: An incubator is an organisation to accelerate growth and success of an entrepreneur through various kinds of support in the form of resources, services and networking. They play a key role in helping entrepreneurs in early stages.
2. Explain the role of incubators.
Ans: The role of incubators are as follow:
(i) Physical facility support: Business incubators provide (a) Physical facility eg. rental space, electricity, high speed internet access, market research facilities, conference hall facilities.
(ii) Support service: Business incubation as business support service like
(a) They provide Marketing assistance.
(b) Providing access to bank loans, loan funds and guarantee.
(c) Incubators help with presentation skills.
(d) They link to higher education resources.
(e) They link to strategic partners.
(f) They provide Access to angel investors or venture capital.
(g) They organise comprehensive business training programmes.
(h) They act as Advisory boards and mentors.
(i) They help in Management team identification.
(j) They help with business etiquette.
(k) They provide technology commercialisation assistance.
(l) They help with regulatory compliance.
(m) They provide Intellectual property management.
(n) Incubators help in accounting facilities/financial management.
(o) Incubators help in Market Research.
(iii) Networking facilities: Business incubators provide networking facilities to the members. It encompasses a set of relationships with various agents or organisations. Building networks shortens and accelerates the firms’ learning process.
3. What do you mean by a business incubator?Elaborate the advantages of an incubator.
Ans: The National Business Incubation Association (NBIA) defines business incubators as a catalyst tool for either regional or national economic development. Sherman and Chappell have defined business incubators as,“an economic development tool primarily designed to help create and new businesses in a community. Business incubators help emerging businesses by providing various support services, such as assistance in developing business and marketing plans, building management teams, obtaining capital, and access to a range of more specialised professional services. They also provide flexible space, shared equipment and administrative services.”
The advantages of an incubator are as follows:
(i) Shared Basic Operating Costs: Tenants in a business incubator share a wide range of overhead costs, including utilities, office equipment, computer services, conference rooms, laboratories and receptionist services. Basic rent costs are usually below normal for the region in which the fledgling business is operating, which allows entrepreneurs to realise additional savings.
(ii) Consulting and Administrative Assistance: Incubator managers and staff members can often provide insightful advice and/or information on a broad spectrum of business issues, from marketing to business expansion financing. Small business owners should remember that the people responsible for overseeing the incubator programme are usually quite knowledgeable about various aspects of the business world.
(iii) Access to Capital: Many business incubators help entrepreneurs acquire capital by means of revolving loan and micro-loan funds, according to NBIA. They link businesses to investors by referral. They assist entrepreneurs in preparing presentations to venture capitalists and assist companies in applying for loans.
(iv) Universality of Incubator Concept: One of the key advantages of incubators is that the concept works in all communities of all shapes, sizes, demographic segments and industries. In many cases, the incubator naturally takes on some of the characteristics of the community in which it is located. For example, rural-based incubators may launch companies based on the agriculture present in the area.
(v) Comradeship of Fellow Entrepreneurs: Many small business owners that have launched successful ventures from incubators cite the presence of fellow entrepreneurs as a key element in their success. They note that by gathering entrepreneurs together under one roof, incubators create a dynamic environment wherein business owners can
(a) provide encouragement to one another in their endeavours.
(b) share information on business-related subjects. and
(c) establish networks of communication that can serve them well for years to come.
4. List ten important incubators in India.
Ans: Importance incubators in india are:
(i) Innovation and Entrepreneurship (SINE), IIT Mumbai It was setup in 2004. It is one of the earliest incubators in academia with a potential to create start-ups focussing on economic growth, strategic value and social relevance. These start-ups have been successful in raising venture capital investment after incubation of up to rupees three crore from the market.
(ii) Technology Business Incubator, IIT Delhi: TBI has been in active operation since 2000. It has been conceived and programmed by the Foundation for Innovative and Technology Transfer (FITT). This incubator accepts incubation applications from either IIT-D students, alumni or one of the members of the Academic staff only. The selection criteria are quite stringent.
(iii) TechnoPark Technology Business Incubator (T-TBI), Kerala: It was established in 2006 with the support of the Government of Kerala. It has been renamed as Kerala Start-up Mission.It is India’s first and successful non-academic business incubator. It is a joint association of Techno Park Thiruvananthapuram and the Department of Science and Technology (DST), Government of India. T-TBI offers fully furnished working spaces spread over 15,000 sq.ft, expert opinions and guidance from the industry, marketing and legal management consultancy and financial assistance.
(iv) Start-up Village: It is a not-for-profit business incubator in Kochi. It was started in April 2012. Start-up Village is a public-private enterprise run by Government of Kerala. The government earmarked Rs. 100 crore for Start-up Village and wants to incubate over a thousand start-ups in 10 years.
(v) Indian Angel Network (IAN): IAN was founded in 2006,it is a unique concept which brings together highly successful entrepreneurs and CEOs from India and around the world who are interested in investing in start ups and early stage ventures which have the potential of becoming successful. It is an equity based business incubator centre that gives priority to ventures in the areas of healthcare, gaming and animation cloud computing, retail, mobile VAS, media and entertainment, alternative energy, education and clean technology.
(vi) Techno Park TBI: Techno Park Technology Business Incubator (T-TBI), is India’s first Non Academic Business Incubator, hosted and housed inside the Asia Largest IT Park TechnoPark.It was established in 1990 in Thiruvananthapuram. It is the largest Information and Technology park in India in terms of developed area. Technopark Technology Business Incubator (T-TBI), a joint association of Technopark, Trivandrum and the Department of Science and Technology (DST), Government of India, helps technology business start-ups.
(vii) Centre for Innovation, Incubation and Entrepreneurship (CIIE), IIM Ahmadabad: A business incubator housed at India’s prime business school simply cannot be left out of the list. Having started incubation initiatives since 2007, CIIE has an interesting perspective on why it doesn’t provide physical space for business incubation. They want entrepreneurs to build their ideas from wherever they are stationed, so that the local economy benefits from its growth.
(viii) NSRCEL Itis an incubation centre run and managed by IIM, Bangalore. Located in this scenic educational institute is N.S.Raghavan Centre of Entrepreneurial Learning(NSRCEL). Since its inception in 2002,it has brought together entrepreneurs, academicians and industry experts to create an impact on the start-up eco system.
(ix) Atal Incubation Centre: Atal Innovation Mission (AIM) is Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship in the country. AIM’s objective is to develop new programmes and policies for fostering innovation in different sectors of the economy, provide platform and collaboration opportunities for different stakeholders, create awareness and create an umbrella structure to oversee innovation ecosystem of the country.
(x) AngelPrime: AngelPrime was launched recently in 2011 in Bengaluru by well known names in the Indian technology industry like Bala Parathasarathy, Shripati Acharya and Sanjay Swamy. The areas that AngelPrime aims to incubate in are mobile payments, e-commerce and smartphone / tablet apps. It has already begun incubating a mobile payments company and a smartphone and tablet start-up.
5. Write a short note on any four business incubators in India.
Ans: (i) Indian Angel Network (IAN): IAN investors bring in their expertise to help guide founders scale their business, and make successful enterprises. IAN has an efficient process that allows us to provide quick feedback to companies who apply for funding. Over 500 members comprising the who’s who of successful entrepreneurs and dynamic CEOs.
(ii) CIIE.CO (Centre for Innovation Incubation and Entrepreneurship): An innovation incubator is an organisation or program that supports new businesses, ideas, and ventures. These programs provide resources such as funding, workspace, mentorship, and training to help entrepreneurs and innovators get their projects off the ground.
(iii) T-Hub: India’s largest incubation centre, synergies startups, corporations, governments, academia and investors to drive transformative change. Visit Website. In 2022, T-Hub completed seven successful years of empowering India’s innovation ecosystem.
(iv) NASSCOM Startup Warehouse: It aims to establish India as the world’s leading technology ecosystem by promoting future readiness, trust, emerging technology, and sustainability. National Association of Software and Service Companies (NASSCOM) is an Indian non-governmental trade association and advocacy group that primarily serves the Indian technology industry. Founded in 1988, NASSCOM operates as a nonprofit organisation and serves as a key entity within the Indian technology sector.
