• Version
• Download 59
• File Size 1.31 MB
• File Count 1
• Create Date 31 May 2024
• Last Updated 31 May 2024

Analyzing the Impact of Incubator cum Accelerator in Fostering Innovation and Entrepreneurship Scene in Chhattisgarh

Prerna Sahu*, Dr. Niranjan Dev Pathak**

*MBA, Amity Business School, Amity University, Raipur (C.G.)

** Assistant Professor, Amity Business School, Amity University, Raipur (C.G.)

Abstract:

The entrepreneurial ecosystem plays a pivotal role in driving economic growth and fostering innovation within a region. In recent years, incubators and accelerators have emerged as key facilitators in nurturing startups and promoting entrepreneurship. The study explores how these programs contribute to the growth of startups, and foster a culture of innovation. By leveraging a mixed-methods approach, we analyze incubators' performance metrics and qualitative insights from interviews with entrepreneurs, incubator managers, and policymakers. Our findings reveal that incubators and accelerators significantly enhance startup survival rates, access to funding, and market reach. Through a comprehensive analysis of the effectiveness of these programs, this research sheds light on the specific mechanisms through which incubators and accelerators facilitate the growth and success of startups in Chhattisgarh. Additionally, we identify key success factors including mentorship quality, networking opportunities, and government support. The research underscores the importance of tailored incubation programs to address the unique challenges faced by startups in emerging economies. Our study contributes to the understanding of how regional incubator and accelerator models can be optimized to boost local innovation ecosystems, offering policy recommendations to enhance the entrepreneurial landscape in Chhattisgarh and see the support services provided by incubators and accelerators, and the perceived value and effectiveness of these programs.

Keywords:

Incubators, Incubation, Accelerators, Chhattisgarh, Entrepreneurship, Start-up, Innovation, Investment, Support, Funding, Eco-system, Business, Industry, Policy, Scheme, Employment, Mentorship, AIC