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Chandigarh has been flooding with various incubators for startups and has given birth to various innovative startups. The Department of Promotion of Industry and Internal Trade (DPIIT) ranked the city among the ‘startup beginners’ in Startup Ranking 2018. Every business idea becomes a success once it gets implemented, and to apply it, there’s a massive demand for resources.

The image describes the meaning and factors included in Business Incubators

Picture Credit: Business Incubators

Local Incubators- an Encouragement to Young Entrepreneurs

Well, this problem is solved by various accelerator forces in Chandigarh. The list of incubators of Chandigarh is:
Startup Accelerator Chamber of Commerce (SACC),
Chitkara University Center for Entrepreneurship
Education and Development (CU-CEED),
Indian School of Business (ISB),
Technology Business Incubators (TBI)
Therefore, these incubators provide startups with framework and other necessary resources. Above all, the local startup ecosystem boosted incubators at a great extend . Not only this, students and professional organizations take a step to praise a bridge between growing entrepreneurs and the corporate world. TiE Chandigarh and Entrepreneurship Development Cell are making a journey for upcoming entrepreneurs easy.

Annual Summits

There are annual TiECON and entrepreneurial Summits like Udyami (by Panjab University). It provides a platform to display the talents and unique ideas for startups. Likewise, early entrepreneurs can get advice on growth and scaling. Also, it helps in launching their products to market armed with the right weapons.
With all the help of incubators and educators, Chandigarh has seen an increase in startups that are too successful. Some names on this list are auto-rickshaw platform Jugnoo, PumpKart, Click Labs, Busibud, Just Herbs, ZappFresh and more.

Initiatives Taken By Punjab Government:

Despite all the incubators present in the city, the Punjab Government has also taken several steps to help the local startup ecosystem flourish. The initiatives are 

  1.  The Punjab startup Yatra showcases the state’s startups to investors and offers incentives to startups such as seed grant, state-of-the-art infrastructure support, etc
  2. A Software Technology Parks of India (STPI) Incubation Centre has been set up in Mohali, which aims to assist the journey of 1,000 startups in the next 5 years
  3. It also plans to establish 10 incubators and accelerators, set up another startup hub in Mohali and develop 50 entrepreneurship in the state’s colleges.

The need for the enterprising ecosystem hour is a platform where potential entrepreneurs can meet the startup ecosystem’s trusty  to grow and scale their business. With the exposure of BIGShift in the city, the startups increase their reach nationwide. However, Chandigarh is all set to become the backbone of startup support to India.

The image describes the working and factors involved in Business Incubators

Picture Credit: Pinterest