Rural Business Incubator

Promote Innovations –Promote innovation, entrepreneurship and business creation in sectors that can offer opportunities to rural communities.

Create Rural Livelihood Opportunities- Create livelihood opportunities for the rural youth within the rural vicinity to address out migration in the state of Uttarakhand

Developments of Entrepreneurial Ecosystem– Facilitate the evolution of rural enterprise ecosystem.

Solution to Market Linkages and Local Issues- Generate business solutions to local and global.

The business incubators will assist the rural community members of the State in establishing or scaling up their enterprises. The enterprises can be sub categorized in 5 parts-

1. Seed Stage- Individuals still at the seed stage of the business lifecycle, when their business is just idea or a thought.
2. Early Stage- Applicants who have registered their business as a legal entity and have started productions& operations.
3. Growth Stage- Applicants who have been in business for some time and have a product that has been tested in the market. They are looking for scaling operations or now planning to access larger markets and compete with existing& new players in the market.
4. SHG & Federations – Group & individual enterprise run by SHG promoted in the state. These may or may not be registered as legal entities but may be running small businesses.

Aggregators / Platform from within or outside the State- These are entrepreneurs who may offer opportunities to the rural entrepreneurs by aggregators or by offering them platforms (digital or brick & mortar) to expand their businesses.

Developing an Entrepreneurial Mind set-   One of the most important roles of the rural business incubators will be to help develop an entrepreneurial mindset among the rural communities. As part of this effort, the incubator would develop an EDP programmer, which will be delivered in higher education institutions, ITIs and polytechnics and similar institutions.

Ideation- The incubators will assist the incubates in ideation and help them to ground their ideas from the drawing board. This will include identifying the product or the service that the incubates may offer, the demand for the products, identifying the buyers for their products, measuring the willingness to pay etc.

Business Planning – The incubators will help the incubates in reviewing their business ideas and develop actionable plans to graduate themselves to the next stage of their entrepreneurial journey. This will include assessing investment required, estimating the operating costs, predicting the cash flows and breakeven.

Compliance and Legal Aspect-The incubator would provide access to mentoring on issues such as the legal entities that may suite the business planned, licenses and compliances that the incubates should secure.

Market Access and Linkages- The incubator will help the incubates assess the market potential and help study the value chain of their products or services. This will help the incubates benefit from the forward and backward linkages in the market and take an informed decision of participating in the value chain.

Access to Finance and Attract Investments-The incubator will assist the incubatees with information about various state and centrally supported schemes that offer subsidized or collateral free loans to the rural communities. Further, the incubator will also organize various investor meets and prepare the incubatees to make investor pitches and access financial support through these alternate means.