Scribd
Upload
161 views3 pages

Synopsis of Innovation and Incubation Hub

The document proposes an innovation and incubation hub in Pune, India. It discusses how such hubs help startups and new companies develop by providing office space and business support services. The proposal recommends establishing a hub in Pune due to the city's growing tech sector and status as a hub for information technology in India. The objectives are to foster innovation in India and promote local products while addressing influential individuals. The hub would help students and startups exhibit projects to boost the economy.

Uploaded by

Puneet Bandarwad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
161 views3 pages

Synopsis of Innovation and Incubation Hub

The document proposes an innovation and incubation hub in Pune, India. It discusses how such hubs help startups and new companies develop by providing office space and business support services. The proposal recommends establishing a hub in Pune due to the city's growing tech sector and status as a hub for information technology in India. The objectives are to foster innovation in India and promote local products while addressing influential individuals. The hub would help students and startups exhibit projects to boost the economy.

Uploaded by

Puneet Bandarwad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

Topic: Proposed innovation and incubation hub at PUNE

SYNOPSIS 2
Topic: Proposed innovation and incubation hub at PUNE
OVER VIEW OF THE TOPIC:
A business incubation hub and innovation hub is a company that helps new
and startup companies to develop by providing services such as management
training or office space. The National Business Incubation Association (NBIA)
defines business incubators as a catalyst tool for either regional or national
economic development. NBIA categorizes their members’ incubators by the
following five incubator types: academic institutions; non-profit development
corporations; for-profit property development ventures; venture capital firms,
and combination of the above.

INTRODUCTION:
Innovation hubs aim to discover or create innovative technology solutions for
companies to help them in a variety of ways, such as competing in a new
market, acquiring customers at lower costs, or developing new tools to do work
more efficiently. In addition, they are a great opportunity to partner and
experiment with other companies, without the constraints and distractions of
the day-to-day business. Innovation hubs are often created by a start-up,
established company, or a group of companies. The goal is to apply the start-
up “move fast and fail often” approach to deliver new innovations that can
spin back to the company. In other words, how can big companies launch
great new ideas, faster?
Innovation in its modern meaning is "a new idea, creative thoughts, new
imaginations in form of device or method". Innovation is often also viewed as
the application of better solutions that meet new requirements, unarticulated
needs, or existing market needs. Such innovation takes place through the
provision of more-effective products, processes, services, technologies, or
business models that are made available to markets, governments and
society. An innovation is something original and more effective and, as a
consequence, new, that "breaks into" the market or society. Innovation is
related to, but not the same as, invention, as innovation is more apt to involve
the practical implementation of an invention (ie new / improved ability) to
make a meaningful impact in the market or society, and not all innovations
require an invention. Innovation often[quantify] manifests itself via the
engineering process, when the problem being solved is of a technical or
scientific nature. The opposite of innovation is exnovation.

Name: Puneet Bandarwad Page No :01


Topic: Proposed innovation and incubation hub at PUNE

HISTORY OF THE TOPIC:


The Batavia Industrial Center, commonly known as the first U.S. business
incubator, opened in Batavia, N.Y., in 1959. But the concept of providing
business assistance services to early-stage companies in shared facilities did
not catch on with many communities until at least the late 1970s. In 1980,
approximately 12 business incubators were operating in the United States all of
them in the industrial Northeast, which had been hard-hit by plant closures in
the previous decade.
The Centre for India & Global Business (CIGB) was launched in March 2009 as
part of Cambridge Judge Business School at the University of Cambridge,
England, to support the university's growing engagement with India. As a
research centre and an engagement platform CIGB is dedicated to the study
of India's rapidly expanding role in the global knowledge economy.

PRESENT CONDITION:
START UP INDIA

Startup India is an initiative of the Government of India. The campaign was first
announced by Indian Prime Minister, Narendra Modi during his 15 August 2015
address from the Red Fort, in New Delhi.

The action plan of this initiative is focussing on three areas:

Simplification and Handholding.

Funding Support and Incentives.

Industry-Academia Partnership and Incubation.

An additional area relating to this initiative is to discard restrictive States


Government policies within this domain, such as License Raj, Land Permissions,
Foreign Investment Proposals, and Environmental Clearances. It was organized
by The Department for promotion of industry and internal trade (DPI&IT).

A startup defined as an entity that is headquartered in India, which was


opened less than 10 years ago, and has an annual turnover less than ₹100
crore (US$14 million). Under this initiative, the government has already
launched the I-MADE program, to help Indian entrepreneurs build 10 lakh (1
million) mobile app start-ups, and the MUDRA Bank's scheme (Pradhan Mantri
Mudra Yojana), an initiative which aims to provide micro-finance, low-interest
rate loans to entrepreneurs from low socioeconomic backgrounds. Initial
capital of ₹20,000 crore (equivalent to ₹210 billion or US$2.9 billion in 2018) has
been allocated for this scheme.

Name: Puneet Bandarwad Page No :02


Topic: Proposed innovation and incubation hub at PUNE

PROPOSAL:
I want to propose it in the Pune, Maharashtra. As pune is one of the growing
technological hubs so the innovation and incubation hub provide many
startup company a good source for them to develop and expand their
technology.
And under smart city project of india there is proposal for incubation and
innovation hub in pune. As pune is well connected to Mumbai the trade
exchange programme may also be very easy.

OBJECTIVES:
The objectives is to learn how architecture could be impactful in fostering
India’s innovation, promote the best-in-class Indian products and address the
most influential people of India through the innovation and incubation hub.

NEED AND JUSTIFICATION:


As India is growing in information tech and many other products so that these
hubs will improve to grow for many people setup their business. And city like
Pune which is growing so rapidly is in big need of innovation and incubation
hub. And is also called on of IT hub of India.
As Pune city has many university and colleges so many students will pass out
every year. So it will help to many students to exhibit there projects and which
will help to India’s economy.

CONCLUSION:
As under make in India projects there are many new inventions are coming out
so that these hubs will help them setup their proposals.

Name: Puneet Bandarwad Page No :03

You might also like