Entrepreneurship Development through Business Incubation: A Case Study in Visakhapatnam

Abstract

In India, entrepreneurship appears to be an important driver of direct economic growth. Creativity is inevitable in the modern competitive world that requires entrepreneurs having good technical, managerial, and emotional skills that are essential to promote and run the enterprise successfully in the present competitive and globalized environment. A business incubator is a facility designed to assist business to become established and sustainable Suring their startup phase. The basic services provided by these incubators are workspace, business planning, management advice, office facilities, business networks, legal services, finance and accounting and focuses on the role of business incubators in cultivating small businesses, an attempt has been made to examine the incubation and entrepreneurship development in India with the main objectives of understanding the conceptual issues, categories and development of incubation in India, examine the incubation services offered by different Indian incubators and a case study in Visakhapatnam. By the end a global view on the concept and different incubators in India including a real case study has been presented.