Challenges in Managing Incubation of Innovation in Biotechnology Sector in India

With an abundance of bio-resources and the spread of Bio-technology education and research in India, the sector is witnessing a good growth in terms of quality research outputs. The current work has explored the importance of incubation support for giving shape to such outputs to Biotechnology based start-ups. The Incubation Centres managing Bio-tech innovations do face various challenges. The study has attempted to capture such challenges through a survey of different incubation centres in India having Biotechnology as a major thrust area. The data so gathered has been analysed to explain different challenges faced by these Incubators. The challenges are broadly divided into challenges faced by the Business Incubators and those faced by the Bio-tech start up enterprises. Some of the major challenges faced by the Incubators in their attempt to encourage Bio-technology based enterprises include issues in R&D, challenges of Intellectual property (IP), and challenges due to longer gestation periods of such start ups necessitating their longer stay at Business Incubation Centre etc. On the other hand, some of the challenges faced by the Bio-tech start ups include challenges in raising funds, challenges in sales, marketing and commercial manufacturing. There are also issues of scalability of such enterprises. The attitude, service orientation and understanding of Incubation Managers are also important towards developing good practices at the Incubation Centres.