Top prize for H'bad business incubator | india | Hindustan Times
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Top prize for H'bad business incubator

An agri-business incubator that aims at nurturing competitive enterprises has been selected for India's best technology incubator prize.

india Updated: Apr 11, 2006 18:55 IST

An agri-business incubator near Hyderabad that aims at nurturing competitive enterprises through technology development and commercialisation has been selected for India's best technology incubator prize.

The incubator at the Patancheru-based International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) was selected as "best technology incubator for 2005" by the central government.

Business incubators work to support the entrepreneurial process, helping to increase survival rates for innovative start-up companies having feasible projects. They offer firms a specialised menu of support resources and services.

The products and technologies incubated through this incubator include sweet sorghum for ethanol production, a bio-fermenter for bio-pesticide production, drought-resistant groundnut variety, better-yielding chickpea varieties and production through organic farming.

The centre aims at building budding agri-businesses and offering firms access to ICRISAT's scientific resources and facilities. It is a collaborative project between ICRISAT and the department of science and technology.

These incubators are thought to be particularly useful from a policy perspective because they can simultaneously promote knowledge diffusion, technology transfer and hi-tech firm creation.

"The incubators can also assist by networking with bankers, venture capitalists and bureaucrats and can help you to organise events and trade shows," said ICRISAT spokesperson Gopi Warrier.

"It offers training, entrepreneurship development programmes, skill upgrades and business management training courses," Warrier said.

He said a formal announcement on the award was expected May 11.