You need Incubation for your startup

 A lot of us often wonder whether to apply for these accelerator programs and incubation reviews. Almost every premier institute is opening its own incubation cell and almost every big brand is coming
You need Incubation for your startup

KOCHI: A lot of us often wonder whether to apply for these accelerator programs and incubation reviews. Almost every premier institute is opening its own incubation cell and almost every big brand is coming up with its own accelerator. There are competitions and reviews almost every month. And here’s why you need to be a part of at least one good incubator:

Proven for due-diligence
If you get selected for an incubator or accelerator program, you are by default assumed to have undergone due-diligence required for the same. And if you were fit to make to this incubator’s list, chances are the future investors will start looking at you more positively. Consider this as a license to be on the right path. 
Startup status recognition 
A lot of premier government institutes offer incubation 
programs. If you get selected in them you can get letter of recommendation to be considered as a startup under the definition of Startup India program and avail benefits. 
Opening to new investors
As the number of startups keep sprouting up, investors are often lookout for startups who have a good reputation and backed by some renowned body. Furthermore, a lot of incubators and accelerators also host “Demo Days” for investors. 
Access to talent
In incubators that are run by colleges, you often get access to a talent pool that is very difficult to get otherwise. Preferably go for colleges having Bachelors courses if you decide to take incubation because these students have about 4 years of degree time and have relatively more time to work on startup projects than MBA program students.
Access to coworking space
This gone unsaid. A lot of incubators and accelerators will give you co-working spaces complimentary in the process. This is a huge help to startups as a lot of entrepreneurs in initial days of startups will often find it difficult to afford such workspaces in their budget. 
In all, it is a good idea to go for incubation and acceleration programs. However just make sure that you don’t end up spending a lot of equity on it.  

If you have any queries,write to Rajeev@TBSPlanet.com
Rajeev Tamhankar is IIT-R Alumnus, Entrepreneur of The Year’17 (Print Business) and the Founder of TBS Planet Comics

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