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«Published Annually Vol. 6, No. 1 ISBN 978-0-979-7593-3-8 CONFERENCE PROCEEDINGS Sawyer School of Business, Suffolk University, Boston, Massachusetts ...»

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A detailed realistic architecture of co-incubation network at IIT Kharagpur has been specified in figure (4) below. The core of the network consists of premier technology and management institutions like IITs and IIMs with having STEP, TBI as incubators which work in close collaboration with the other Universities. IIT Kharagpur has global business platform in closed collaboration with GVL partners. The outer cover of co-incubation network contains different level of Incubators (In), where In11, In12 to In1n represents the different incubators in layer one. Similarly In21, In22 to In2n represents the incubators in second outer layer of the co-incubation network. In similar networked approach the co-incubation network has connection with incubators up to nth layer. Because the realistic co-incubation architecture is comprehensive, an entrepreneur can approach any level of this network as per their requirements. An entrepreneur can identify his needs and be able to move toward any node in the co-incubation network to implement their project in a phased approach. He can approach the nearest node of the coincubation network, based on which activity would be most valuable to implement.

The new business architecture is a continuing effort that will evolve, improve, and transform the incubation process at STEP/TBI in terms of co-incubation process and traditions over time. However, it was in practice at IIT Kharagpur based incubator (STEP/TBI), where the tenant companies are actually co-incubated within the STEP premises. A well structured coincubation network is functioning within IIT Kharagpur based incubation umbrella, where STEP, TBI, TIETS, GVL Partners, Universities, Angle Investors, Venture Capital Fund Investors and Other Investors are effective. Growing this path deeper into the incubator organization for increased information sharing and relationship building is the next step.

Easy Access to Funds: Lack of capital is a major barrier for startup business development. Cooperative incubation efforts take an Conference papers © Knowledge Globalization Institute, Pune, India, 2012 all-around approach to build up easy access of funds. Co-incubation network build relationships among several funding agency, which includes University incubators, Angle investors, Venture capitalists and other investors. This cooperation will ease the access of public money, state funds and other funding opportunity for entrepreneurs. The Co-incubation network develops local investment schemes and sources of capital, including low-interest / low security loans, guarantees for loans.

Science and Technology Entrepreneurs Park (STEP)/ Technology Business Incubator

(TBI) is a business incubator for startup venture/entrepreneurs at IIT Kharagpur. This is a joint venture incubation centre with support mechanism and infrastructure in favor of IIT and local entrepreneurs. There are presently forty entrepreneurs incubated at STEP/TBI and growing. Besides providing physical incubation, STEP facilitates a variety of funding programme including innovation funding, TBI seed loan support, MSME (Micro, Small, and Medium Enterprises) seed grant support, technology commercialization support and collaborated co-entrepreneurship support from our Global Venture Lab. The high end technology business incubation product engineering lab is providing prototyping service to VLSI based entrepreneurs, where the entrepreneurs can access design tool simulation package and other measurement platforms. The institution is located in eastern India has established national as well as an international network for business incubators (GVL Partners). STEP/TBI provides high-efficient and cost-effective technological business incubation services to help startups in high end technology business to achieving their worldwide growth target efficiently and productively.

Global Innovation Resource Platform: The STEP/TBI entrepreneurial ecosystem complements the recently established academic centre of entrepreneurship, i.e. Rajendra Mishra School of Engineering Entrepreneurship, IIT Kharagpur. Our student/local entrepreneurs have consistently created innovative startups, which have been acclaimed worldwide, including our Global Venture Lab partners from University of California at Berkeley, Jyvaskyla University, Finland. GVL is a value-added international business creation platform for innovation business development, a reliable platform for worldwide business opportunity and cooperation among global business network partners.

Building Network of International Incubators (GVL)

The IIT kharagpur has global co-incubation network in partnership with the Global Venture Lab, IIT Kharagpur, University of California, Berkeley and Jyvaskyla University, Finland. The model is the brain child of Prof. Dhrubes Biswas, an academician and a philanthropist of IIT Kharagpur. Global Venture Lab (GVL)-India at IIT Kharagpur (www.gvlindia.com) is a university based business creation platform, as a complimentary resource to EE model. It works in synchronization with other universities as partners i.e., University of Jyvaskyla, Finland and University of California, Berkeley as well as other industry partners from these universities. The concept brings in disruptive mix of technology and business models together, through a collaborative knowledge network, for breakthrough creation of globalized social ventures. This provides a platform to the knowledge capitalist around different countries which come together to find global solutions for local problem in Education, Energy, Environment and Health (EEEH). The sole purpose for GVL is to create growth ventures for problems worth solving.





The enterprise called Metra in Finland (www.metra.fi) is one of such many initiatives which emerged from the concept of GVL, University of Jyvaskyla, Finland. Metra’s goal is to tackle the troubled energy market with fast delivery, low cost, and long lasting renewable energy solutions. It focuses to further develop the global wind industry by pairing high quality technologies with low-investment costs. They are live case of GVL co-incubation, which is utilizing the GVL platform for commercialization as well as product refinement processes.

Entrepreneurs has revealed that the global mentoring programs can help support training which matches the thought process of different mentors, encourages information exchange and connection with employees from other regions to rapidly innovate and maintain competitive advantages (Stanek, 2001). Hence, GVL initiative fulfills this global knowledge sharing and mentorship for sustainable enterprise creation.

Conclusion

The potential benefits incubation system benefits the start-ups locally. The wider concept of co-incubation would definitely lead to an increase in the number of ventures in existing incubation systems. This would also increase the survival rate of new ventures, the sharing and collaboration of the assets of the business network. Business intelligence would play the role for identifying and decision making for resource between the partnering incubators. Business architecture of co-incubation

Conference papers © Knowledge Globalization Institute, Pune, India, 2012

system may be appropriate for the development of start-up companies in the emerging economies. Co-incubators network should be created across the country and worldwide where specific knowledge base would get created through industrial or education development. Business architecture plays the role of structural tool to execute the requirement of start up ventures as per their needs. It fulfills the strategic goals of incubator as well as incubatees to identify their business capabilities and value stream.

–  –  –

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