A startup incubator or incubation centre is a specialised organisation or space created to develop and support entrepreneurs and early-stage enterprises throughout their formative years. These facilities offer a variety of tools, services, and a supportive setting that help businesses grow and develop more quickly. Their primary goal is to assist startup companies in overcoming typical obstacles including obtaining capital, enhancing their business models, and gaining essential mentoring and assistance. Incubation facilities frequently include physical workspace, promoting entrepreneur networking and cooperation. Additionally, they give access to prospective financing sources, important professional mentoring, and various support services, such as training, legal, accounting, and market research. These centres are essential in helping companies navigate the complexity of the business world and eventually achieve sustained success by fostering an ecosystem that encourages innovation and entrepreneurship.
Published in Chapter:
Symbiosis of Innovation-Oriented Leadership and Start-Ups: Focused on India
Copyright: © 2024
|Pages: 18
DOI: 10.4018/979-8-3693-2077-8.ch005
Abstract
Interest in entrepreneurship and the startup movement has increased a growing debate and research regarding innovation in many avenues, including business models. Many startups, nationally and internationally, are doing exceptionally well, and it is obvious that they are highly inclined towards innovation in various dimensions of their business. Innovation is otherwise also necessary in the changing environment of the contemporary business world. Many startups have designed novel business models for new organizations or reconfigured existing business models. This chapter will focus on the aspects of the requirement of innovation-oriented leadership in business and how it leads to an effective business model. The authors will also discuss the critical role played by innovative approaches in setting up a new business venture. Additionally, the chapter will discuss the stories of successful Indian startups and how innovative leadership contributed towards startups.