More business incubators to be set up in country -Governance Now

More business incubators to be set up in country

Every university must have a business incubator, says Science and Technology Minister Prithviraj Chavan

PTI | February 8, 2010

Aiming to augment research and entrepreneurship, the government is contemplating to set up more number of business incubators across the country.

The business incubators are designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services.

"There are over 5,000 incubators in the world. Of them, nearly 1,400 are in North America. Over 1,000 are there in China. Their number is only 40 in India," Science and Technology Minister Prithviraj Chavan said today.

The business incubators provide appropriate forum for start-up entrepreneurs to do technological innovation and produce new useful products. Chavan said there are not enough incubators in north India and north-eastern states.

"Every university have to have a incubator," he said at a conference of Indian STEP and Business Incubator Association (ISBA).

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