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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 ...»

-- [ Page 48 ] --

41. Sherman, H., Chappell, D.S., 1998. Methodological challenges in evaluating business incubator outcomes. Econ. Dev.

Q. 12 (4), 313-321.

42. Stemberg, R., 1990, The Impact of Innovation Centers on Technology-Based Firms: The Example of the Federal Republic of Germany, Small Business Economics 2, 105-11

43. Stevenson, H.H. and C.J. Jarillo, 1990, A Paradigm of Entrepreneurship: Entrepreneurial Management,_Strategic Management Journal 11, 17-27.

44. Timmons, J.A., 1999, New Venture Creation: Entrepreneurship for the 21st Century, Boston, MA: Irwin/McGraw-Hill.

45. von Zedtwitz, M., 2002, ‘Classification and Management of Incubators: Aligning Strategic Objectives and Competitive Scope for New Business Facilitation,’ International Journal of Entrepreneurship and Innovation Management 3 (1/2), 176-196.

46. Zachman, J. A., 2003. Excerpted from The Zachman Framework: A Primer for Enterprise

47. Zahra, S., Gedajlovic, E., Neubaum, D. O., and Shulman, J. M. 2009. A typology of social entrepreneurs: Motives, search processes and ethical challenges. Journal of Business Venturing. 24(5): 519-532 Incubation provides support for establishing and developing small and medium sized enterprises. This paper proposes a sustainable and scalable incubation model. This paper also presents a study on incubation model supported by higher educational Institution and aims to find out extent to which support received by incubatees from incubators can be made sustainable through technology adaptation. After survey and data analysis it was realized, technology adaptation in form of social media platform is most suited solution for a company to scale -up and sustain along with incubation support.

Keyword: Incubation, Technology Adaptation, Social Media.

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Incubation is process of providing workspace as well as an informative and supportive environment to start-up entrepreneurs [1].It is provided during early stages of businesses. It focuses mainly on development of entrepreneurial companies through an array of business support resources and services. Incubation can be categorized according to way they deliver services, their organizational structure, through its network model of contacts and types of clients y serve. With rapid advancement of technology, entrepreneurship and innovation has become cornerstone for global economic growth and with emergence of business incubation model and further network modeled model in support of enterprise creation, we can see that enterprise creation leads to job creation and further improvement of economy [2]. It is well cited in [3] that technology strategies that promote continuous learning in order to fully exploit organizations potential should be crafted by organizations to gain competitive advantages. [4] Stated that Competitive strategy and internal capabilities jointly determines a company’s technology options as well as technology and strategy variables are continuously influenced by each other. Technology adaptation is needed to achieve stability of discussed network models. Social media can be a well cited example of technology adaptation for achieving stability of incubation model globally.

Main focus of researchers in this paper is not merely achieving a stable incubation model within state or country but also to achieve a stable incubation model globally. No other platform or than social media can provide a better platform for globalization of discussed model. It should also be noted that a transparent exchange of information can be achieved using social media. Social network modeling through social media is a prominent and outstanding issue in literatures of entrepreneurship. According to [5] Network modeling of Entrepreneurship uses language of social network models. Importance of social network modeling and social media lies in letting ors know about existence of or fellows around their own vicinity. Social media will act as platforms were national and international partners will join hands to make discussed model stable and scalable. In this paper we have detailed a successful story of incubation model in Indian context.

LITERATURE REVIEW:

Business incubators are generally identified with infrastructure provided to support, nurture, establish and develop small and medium sized enterprises [6]. Business incubators provide startups and small businesses with cheap office space, professional advice and or services designed to help businesses get off ground and succeed. Most are run by independent nonprofits and often are funded by government grants [7]. Business incubators serve as a one-stop shop offering resources to

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

nurture development of entrepreneurial companies, helping m survive and thrive during startup period, when y are most at risk.

Some of examples of business incubators are as given “Digital Media Center Business (DMC) Incubator”, an economic development program of “Rancho Santiago Community College District in Santa Ana, CA", uniquely focuses on digital media entrepreneurs. Most of entrepreneurs are very savvy about technology, but they may lack business development skills. Business incubation helps entrepreneurs to concentrate on what they do best and move them as quickly as possible to market.





[8].These incubation programs provide various supports to convert desire into reality. There is a continuous tussle over role of business incubator in success of new enterprise. Some studies show that business incubators are necessary for growth of new enterprises in terms of sales and economic growth [9]. On contrary there are studies showing no impact of business incubator of new enterprises [10.].Incubation Incubation and technology adaptation hold hands for the growth and sustainability of a start-up or developed firm. This has been proved by researchers. Premkumar and Roberts [11] identified that adoption of various communication technologies by small and medium enterprises helps in growth. Factors that influence information technology adoption by small and medium enterprises (SMEs) was studied by Riemenschneider et al. [12]. According to Clive Shepard [13] “learning at work is more of “learning from” work. Through social media, we learn from our experience and from ors experience also. In arena of entrepreneurship, social media and entrepreneurship represents perfect dove-tailing in small business creation. With help of social media, it is seen that it has already begun to foster an intuitive and immersive system that allows effective visual communication and delivers real time natural interactive experiences which enhances user motivation and style of application [14].Business incubators or incubation centers are latest organizational forms initiated by economic development agencies, which are created for purpose to support and accelerate development and success of new ventures which further leads to achieve economic development goals.[ 15]

OBJECTIVE OF PAPER :

From literature review, it has been realized that Provision of environment friendly incubation, providing strategic and competitive market segment within a specific technological zone and provision of funding sources to ensure sustainability of incubation model are few challenges faced in incubation. Above all these challenges, biggest challenge is how to make incubation model scalable and sustainable at an international level.

METHODOLOGY :

We targeted all STEP/TBI, IIT Kharagpur incubated companies. In our study, we considered Technology adaptation as principal criterion in determining scalability and sustainability of companies. To analyze importance of incubation for a start-up and impact of social media for its scalability and sustenance a pilot survey was done among incubatees present under incubation umbrella of Science and Technology Entrepreneur’s Park (STEP) and Technology Business Incubation (TBI), at IIT Kharagpur, West Bengal, India.

This survey was done by circulating a questionnaire to each of incubatees and tried to find out responses based on question focusing importance of incubation and enhancing model of incubation through technology adaptation by means of social media.

Statistical Data analysis was done using the SPSS-19 software. All the variables that are involved in the incubation process were considered. Sample Size was 100.A regression analysis was done.

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Questionnaire was based on a series of questions about demographic profile, benefits of incubation on growth and sustainability of the firm. It also focused on benefits of technology adaptation by means of social media on business. In this work questionnaire was posted online and some of them were send by post. Questionnaire included 5 levels of agreement which involved 5= highly agreed, 4= Agreed, 3 = Don’t know, 2= Disagree, 1= Completely disagree.

Questionnaire had three sections focusing on incubation, technology adaptation and impact of all factors on growth and sustainability of firms.

ROLE OF HIGHER EDUCATIONAL INSTITUTIONS FOR BUILDING A SUSTAINABLE INCUBATION MODEL:

Conference papers © Knowledge Globalization Institute, Pune, India, 2012 Role of HEIs and industry partnership based initiatives could be a greater design to foster entrepreneurship through incubation at all levels of society including Bottom of Pyramid (BOP) [16].Total business process turned around to collaborate industry and academic to form Education-Enterprise (E-E) model [17].This model significantly forms base of incubation.

Collaborative efforts between academia and enterprise can accelerate growth of a firm through technology adaptation. This effort can be enhanced by adopting new technology resulting a sustainable incubation model. E-E model support for entrepreneurship creation illustrates type of co-operative relationship development that is becoming increasingly common in BASIC countries. In these countries rapid technological development demands considerable development of resources. [18].

Incubation can also be represented by electrical circuit as show in Fig. 1 respectively.

Here E is Incubation supporting organization which acts as a source of power in form of company formation, funding and mentoring firms from start-up to their graduating. Satisfaction level of innovator against facilities provided by incubator acts as resistance R1, R2 and R3.This resistances are in series with incubated firms showing their existence throughout incubation process. Incubated firms are shown as capacitor C1, C2 and C3 which stores energy that is provided by incubator.

E-E Model at IIT kharagpur supports dry and wet Incubation which leads to a well functioning co-incubation model. STEP, IIT Kharagpur utilized E-E model and provided necessary assistance at grass root level. This assistance is for facilitating development of entrepreneurs and start-ups by providing incubation space and government grants. Education and Enterprise or E-E framework does not follow traditional frameworks and models. It believes that, if Academia and Industry represented by Education and Enterprise functions together, can achieve a greater public good while itself being away from functioning of E-E framework [19].

–  –  –

a. Ikure Techsoft Pvt. Ltd.

Ikure proposes to make the Urban Healthcare facilities available in the rural areas and that too at a fraction of the cost.The company developed a health monitoring device WHIMS using 8085 microprocessor integrated with Blood Pressure equipment & GSM Dialer.Ikure incubated by IIT Kharagpur proposes an innovative solution (Hubs and Spokes) for healthcare delivery in rural India.

b. Center for Advanced Communication ( CACM)

CACM proposes an Integrated Learning System to develop communication skills through interaction. CACM is incubated by STEP/TBI, IIT kharagpur. Tailor-made application software is continuously up-graded and tested at Application and Assessment Lab at IIT, Kharagpur, before installing it in actual lab. This post installation facility provided by STEP/TBI, IIT Kharagpur has a prototype lab that helps trainers and technicians to improve and upgrade themselves to meet needs of ever changing technology. With se facilities CACM forms a level 2 co-incubation network model with Universities and institutes across country.

Solution network model reaches extreme east and covers north to south. With concentration of network model in eastern and north-eastern part of country, it gives opportunity for inter institute alliances in field of network modeling, maintenance and sharing valuable technical know how and qualified trainers, helping in formation of a co-incubation network model.

c. P2 Power Solutions Conference papers © Knowledge Globalization Institute, Pune, India, 2012 P2 Power is a venture, started in 2005 by a group of IIT Kharagpur graduates supported by STEP IIT Kharagpur through dry and wet incubation. The company works to deliver Innovative Engineering Solutions with specific focus on energy efficiency and power quality enhancement. They have developed there indigenous Solar inverter topology with 95% efficiency, the best available in the Indian market. This multi inverter topology can be used to provide power through Solar, Gird as well as battery providing a versatile inverter for all applications. They had successfully developed there first 25 kVA AC drive system for a slurry motor which was installed in the Mechanical Engineering department, IIT Kharagpur in November 2008. They received a commercial order from IIT Kharagpur for the installation of i-Con - the universal power conditioner.

CHALLENGES FOR SUSTAINABLE EXPANSION OF MODEL:



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