E-ISSN:2583-1747

Research Article

Entrepreneurial

Management Journal for Advanced Research

2025 Volume 5 Number 1 February
Publisherwww.singhpublication.com

Role of Academic Incubators in Promoting Entrepreneurship and Entrepreneurial Skills among Students in India

Sultana N1, Yugendhar A2*
DOI:10.5281/zenodo.14999524

1 Nazia Sultana, Associate Professor, Department of Commerce, University College for Women(VCI), Osmania University, Hyderabad, Telangana, India.

2* Akkinapally Yugendhar, Research Scholar, Department of Commerce, Osmania University, Hyderabad, Telangana, India.

In order to promote entrepreneurship and new business ventures, particularly in developing nations like India, business incubators must be integrated into universities. Due to their youth and lack of financial responsibilities, many students are more inclined to take chances and pursue entrepreneurial endeavors. The purpose of this paper is to examine the value of academic incubators in India, their function in fostering entrepreneurial abilities, and their role in the launch of new businesses. The paper offers insights into how universities can better prepare students for entrepreneurial success by analyzing the opportunities and challenges in the current academic incubation landscape.

Keywords: entrepreneurial, skills, students, india

Corresponding Author How to Cite this Article To Browse
Akkinapally Yugendhar, Research Scholar, Department of Commerce, Osmania University, Hyderabad, Telangana, India.
Email: 		Sultana N, Yugendhar A, Role of Academic Incubators in Promoting Entrepreneurship and Entrepreneurial Skills among Students in India. Manag. J. Adv. Res.. 2025;5(1):31-40.
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https://mjar.singhpublication.com/index.php/ojs/article/view/190

Manuscript Received Review Round 1 Review Round 2 Review Round 3 Accepted
2024-12-29 2025-01-22 2025-02-25
Conflict of Interest Funding Ethical Approval Plagiarism X-checker Note
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© 2025 by Sultana N, Yugendhar A and Published by Singh Publication. This is an Open Access article licensed under a Creative Commons Attribution 4.0 International License https://creativecommons.org/licenses/by/4.0/ unported [CC BY 4.0].

Manag. J. Adv. Res. 2025;5(1)31
Download PDFBack To Article1. Introduction2. The Role of Academic
Business Incubators: An
Entrepreneurial Ecosystem3. Characteristics of
Academic Incubators4. Institutional
Incubator Services
and Support System5. Challenges of
Academic Incubation6. ConclusionReferences
Sultana N, et al. Role of Academic Incubators

1. Introduction

Academic incubators have become critical in promoting entrepreneurship and developing entrepreneurial skills among students, especially in India. These incubators provide a fertile environment for students to translate their innovative ideas into successful ventures. Academic entrepreneurship, which involves the active participation of universities in fostering economically significant ventures, plays a pivotal role in nurturing an entrepreneurial mindset. By offering resources such as mentorship, infrastructure, and access to networks, universities are transforming from traditional educational institutions into hubs of innovation and economic development.

In India, universities are increasingly seen as a source of new business creation through academic incubators. These incubators not only provide financial support but also help in building entrepreneurial ecosystems that are conducive to start-up growth. The government's support through initiatives like Startup India underscores the importance of academic institutions in driving entrepreneurial endeavors. However, the effectiveness of these incubators depends on multiple factors, including institutional support, regional collaboration, and access to funding.

The role of university-based incubators (UBIs) is particularly vital in India, where entrepreneurship is seen as a pathway to solve unemployment and drive economic growth. Despite the rapid growth in the start-up ecosystem, challenges such as inadequate financial support, lack of mentorship, and limited infrastructure still exist. Nevertheless, the potential of academic incubators to cultivate entrepreneurial skills and foster start-up ventures is enormous, and universities are increasingly investing in creating environments that support innovation.

This paper aims to explore the significance of academic incubators in India, their role in promoting entrepreneurial skills, and how they contribute to the establishment of new ventures. By examining the challenges and opportunities within the current academic incubation landscape, the paper provides insights into how universities can better equip students with the skills needed for entrepreneurial success.

Entrepreneurship

Cantillon first formalized the term "entrepreneur," emphasizing that entrepreneurs drive the redistribution of resources in an economy through self-reliant, profit-driven strategies. Entrepreneurship is defined as the creation of economic activity by discovering new products or markets (OECD, 2011). It involves identifying economic potential and exploiting it through the production and sale of goods (Ahmad & Seymour, 2008).

In modern times, universities have shifted from just teaching to fostering economic development by promoting innovation, entrepreneurship, and research. This is especially relevant in developing countries, where entrepreneurship can help address issues like unemployment. Universities play a central role in this by offering innovation centers, business incubation programs, and technology transfer offices to support start-ups.

Business incubators, primarily used to commercialize intellectual property from academic research, help accelerate the process of turning new discoveries into marketable products. In India, government initiatives like Startup India have created a favorable environment for new businesses, emphasizing incubation, industry-academic partnerships, and financial incentives. Although university-based incubators play a crucial role, research on their impact is limited. India’s rapid growth and robust infrastructure make it a global leader in supporting start-ups, but more focus is needed on the role of university incubators in fostering entrepreneurial success.

Fostering Educational Institutions can Foster Entrepreneurial Skills, Mindset among Students

Educational institutions play a crucial role in fostering entrepreneurial skills and mindsets among students. Michelacci (2003) emphasizes that effective business incubators (BIs) require individuals with prior entrepreneurial experience and skills. Graduate and postgraduate institutions are expected to offer not only research and graduation outcomes but also support for entrepreneurial endeavors, including job placements.


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Over the past decade, there has been an increasing focus on encouraging entrepreneurship in higher education, with incubators providing resources, guidance, and mentorship for aspiring entrepreneurs. Networking opportunities, such as seminars and conferences, are essential for students to connect with industry leaders, alumni, and investors. Prestigious institutions like IIMs and IITs also facilitate global exposure, international exchange programs, and partnerships to prepare students for the global business environment. These efforts help students access financial support from angel investors and venture capitalists, further promoting entrepreneurial initiatives.

University based Business Incubators

University Business Incubators (UBIs) are organizations linked to universities that offer a range of physical and non-physical services to support and foster new businesses. UBIs provide a platform for university spin-offs and emerging companies by offering resources such as advanced laboratories, experienced mentors, and industry connections (Grimaldi & Grandi, 2005; Barbero et al., 2012). These incubators help students apply their academic knowledge in real-world settings, promoting entrepreneurial growth (Robles, 2017). Collaborations between universities and businesses enhance the commercialization of research and technological innovations, benefiting both the academic and entrepreneurial communities (Roura, 2015). UBIs play a significant role in developing networks, fostering entrepreneurship, and supporting the growth of start-ups within the academic environment (Xu, 2009).

2. The Role of Academic Business Incubators: An Entrepreneurial Ecosystem

Education in business has gained prominence as a means to foster creativity and promote entrepreneurship. It is an essential part of developing students' entrepreneurial ambitions, as entrepreneurship is key to addressing unemployment and driving economic growth. Over recent years, academic research and the pursuit of innovative business solutions have significantly contributed to global economic development. Universities play a pivotal role in advancing these initiatives by facilitating research, the creation of new business ideas,

and the dissemination of knowledge that drives economic progress.

University-based incubators have become critical assets in supporting innovation and entrepreneurship. These incubators provide both physical infrastructure and non-physical services such as mentoring, career placement, and industry connections, thus encouraging students to engage in entrepreneurial activities. Entrepreneurial education helps students develop creative thinking, accumulate knowledge, and prepare for successful business ventures. Studies show a strong connection between the presence of effective university business incubators and students' intent to pursue entrepreneurial endeavors (Barbero et al., 2012).

In addition to fostering innovation, university incubators also promote the formation of innovation clusters, which are collaborations between universities, public organizations, and businesses. These clusters enhance research and entrepreneurial efforts, providing students with real-world opportunities to refine their business ideas. Financial institutions often partner with these incubators, offering loans and financial support to expand entrepreneurial businesses (Grimaldi & Grandi, 2005).

Academic business incubators serve as valuable platforms for students to develop their ideas and gain exposure to the business world. They facilitate collaborations within student cohorts, allowing individuals to combine their diverse skill sets and enhance their ventures. Early-stage businesses benefit from the leadership and management development provided by these incubators. Furthermore, incubators offer essential resources such as co-working spaces, labs, and mentorship programs, which are crucial for launching and scaling start-ups. The goal of these incubators is to help new businesses become financially viable and self-sustaining (Robles, 2017; Roura, 2015).

3. Characteristics of Academic Incubators

1. Supportive Environment:
Academic incubators provide a supportive atmosphere that promotes the growth of start-up businesses and encourages entrepreneurial ideas.


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This environment is crucial for the success and establishment of new businesses (Khalid et al., 2014).

2. Practical Experience Integration:
They help individuals with entrepreneurial mindsets integrate theoretical education with practical experience, enabling them to become experts in their fields and successfully build their businesses (Shane & Stuart, 2002).

3. Long-Term Support:
Academic incubators offer nurturing support to firms until they become self-sustaining in the market, ensuring the long-term survival of start-ups (Bosma & Sternberg, 2014).

4. Entrepreneurial Culture Development:
By fostering an entrepreneurial culture, these incubators aid in the establishment of new businesses, contributing to the overall enhancement of entrepreneurship (Schaeffer & Matt, 2016).

5. Assistance for Growing Start-ups:
They help small and growing start-ups overcome obstacles, acquire necessary skills, and succeed in competitive markets, ensuring their growth (Gaskell, 2016).

6. Resources for Student-founded Businesses:
Providing critical resources like funding, workspaces, coaching, and customized programs helps ensure the continued success of student-founded businesses in competitive industries (Khalid et al., 2014).

7. Expert Support:
Experienced professionals and successful entrepreneurs contribute valuable knowledge and support throughout the incubation process, greatly benefiting new ventures (Robles, 2017).

8. Coaching and Training Services:
Academic incubators offer coaching services, including educational seminars and training, which provide students with essential business knowledge (Grimaldi & Grandi, 2005).

9. Networking Opportunities:
They facilitate networking by organizing events like seminars, conferences, and social gatherings, providing aspiring entrepreneurs opportunities to interact with industry professionals and investors (Roura, 2015).

The Role of Universities in Fostering Entrepreneurship

Universities play a significant role in the entrepreneurial ecosystem by supporting the emergence of creative start-ups. They contribute to the broader economy by sharing knowledge and fostering innovation, with university incubators being essential in this process (Schaeffer & Matt, 2016). Through government programs like Startup India, institutions help establish an environment conducive to innovation and entrepreneurship (Ghagane et al., 2017).

University business incubators (UBIs) are particularly effective in promoting knowledge and technology transfer to new businesses. They encourage social, entrepreneurial, and creative initiatives while balancing their academic obligations (Hayter, 2016). These incubators are vital for fostering entrepreneurship, particularly in sectors like electronics and IT, and have been found to be more successful in private sector institutions compared to public ones (Startup India Survey, 2016).

India’s Startup Ecosystem

India has developed a strong infrastructure to support start-ups, particularly in the private sector, which supports a majority of the country’s incubators (Khalid et al., 2014). Government initiatives like Startup India aim to create favorable conditions for business growth, highlighting the importance of business incubation centers in educational institutions (Ghagane et al., 2017).

Link between Universities and Entrepreneurship (Entrepreneurial Universities)

The collaboration between academic institutions and entrepreneurship has led to the establishment of universities focused on fostering entrepreneurial initiatives. This has become an essential area of higher education, especially since Professor Mace introduced the first entrepreneurship course at Harvard. Hofer and Potter (2011) demonstrated the effectiveness of entrepreneurship education in colleges, emphasizing two primary objectives: the development of entrepreneurial mindsets and the encouragement of new business creation.

A study by Hofer and Potter (2011) revealed that 43% of students from 19 countries aimed to work for themselves within five years of graduation,


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highlighting the strong connection between higher education and entrepreneurial endeavors. Transforming recent graduates into entrepreneurs is an effective strategy for fostering economic growth, especially in regions undergoing economic transformation, such as Eastern Germany (Hofer & Potter, 2011).

Maritz et al. (2015) studied the role of colleges in promoting entrepreneurship, finding that institutions in Australia offered 584 entrepreneurship-related courses, with 135 instances of entrepreneurial activities. They argued that universities should take a more creative approach to fostering entrepreneurship by providing incentives and support to students and faculty, which can enhance entrepreneurial behavior (Maritz et al., 2015).

Furthermore, universities' budgets are often influenced by factors such as student enrollment and academic achievements, but the success of entrepreneurship initiatives depends on providing incentives to those supporting entrepreneurial efforts. Research in the U.S. suggests that adjusting royalty distribution can improve technology transfer and entrepreneurship, with faculty benefiting from a larger share of income generated through commercialization (Hofer & Potter, 2011).

The Emergence of Entrepreneurial Universities

The concept of the entrepreneurial university emerged from a shift in academic culture, focusing on the connection between academic programs and economic development. This shift allowed universities to foster entrepreneurial activity effectively by facilitating the transfer of knowledge and technology between academia and industry (Etzkowitz& Zhou, 2008). Creative universities are now characterized by their willingness to take risks and embrace innovation (Moreno, 2019).

Entrepreneurial education, as defined by Volles et al. (2017), equips individuals with the skills and insights necessary to start or expand a business. This approach targets individuals demonstrating creativity and encourages the teaching of entrepreneurial conduct, even if they do not intend to establish their own business.

Risk and Entrepreneurial Intent

Students with prior business experience are more likely to join start-ups than those with only academic backgrounds (Moreno et al., 2019).

The 2017 Global Entrepreneurship Monitor (GEM) report indicated that Spain had a higher level of risk aversion compared to the United States, with cultural factors influencing entrepreneurial intentions. However, recent improvements suggest that entrepreneurship is a significant driver of innovation and job creation, fostering an environment conducive to economic progress (Moreno et al., 2019).

Organisational (University) Factors Affecting Entrepreneurial Intention

Educational institutions face the challenge of adapting to ever-changing demands while maintaining their commitment to fostering entrepreneurship. The "third mission" of universities refers to the intentional transfer of ideas and innovations developed through university-industry collaborations to the industrial sector, aiming to foster an entrepreneurial economy (Henderson & Robertson, 2000). Research has shown that contextual factors, rather than just personal attributes, significantly influence entrepreneurial intentions (Turker & Selcuk, 2009).

Universities play a crucial role in shaping entrepreneurial attitudes by creating an environment conducive to entrepreneurship. Institutions can assist students in identifying and nurturing their entrepreneurial tendencies, which can contribute to economic growth and job creation. Therefore, universities must position themselves as centers for entrepreneurship, fostering an ecosystem that nurtures innovation (Turker & Selcuk, 2009).

Despite growing interest in student-led startups and academic entrepreneurship, there is limited research on the specific organizational factors that influence students to pursue entrepreneurial ventures. One critical factor is "entrepreneurial self-efficacy," which refers to an individual's confidence in their ability to carry out entrepreneurial activities successfully. Studies show that higher levels of self-efficacy increase the likelihood of students engaging in entrepreneurial behavior (Henderson & Robertson, 2000). Universities can enhance entrepreneurial intentions by providing resources, support, and a nurturing environment that boosts students' confidence in their entrepreneurial capabilities (Volles et al., 2017).


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Empirical research supports the positive relationship between entrepreneurship education and entrepreneurial activity. Despite the increasing number of courses and curricula focused on entrepreneurship, the rate of student participation in entrepreneurial ventures remains relatively low, indicating a gap between education and action (Volles et al., 2017).

4. Institutional Incubator Services and Support System

Institutional incubators provide a variety of services to support the growth and development of start-ups:

1. Infrastructure Services:
These include building facilities that offer physical space for start-ups to operate and grow.

2. Educational Services:
Services such as consultations, mentoring, and training are offered to help entrepreneurs develop essential skills and strategies.

3. Business Services:
These encompass financial management, sales and marketing support, research and development assistance, product enhancement, employment assistance, and business plan development to help start-ups navigate their growth stages.

4. Networking Services:
Start-ups benefit from networking opportunities, where they can connect with other tenants, industry leaders, and potential partners to exchange information, share experiences, and develop business collaborations.

5. In-house Consulting and External Services:
In-house consultants offer guidance on various business matters, while external services link incubatees to external organizations, expanding their access to networks, knowledge, and resources.

6. Tailored Mentoring and Coaching Services:
Mentoring and coaching services are customized to meet the specific needs of the incubatees, enhancing their entrepreneurial capabilities.

7. Laboratories, Equipment, and Technical Support:
Incubators often provide access to laboratories, specialized equipment, and management/technical support to facilitate product development and business operations.

8. Legal Advice and Business Assistance:
Legal services and business assistance help start-ups with legal requirements and business development strategies.

Post-Incubation Support

1. Planning:
Strategic planning is a crucial phase, where the institution outlines the goals and objectives of the incubator, focusing on the continued support and growth of the start-ups post-incubation.

2. Market Needs and Tenant Selection:
The demand of the market determines the number of prospective tenants, ensuring that only businesses with strong growth potential are admitted to the program.

3. Stakeholder Priorities:
The involvement of various stakeholders, including sponsors and independent parties, is essential for the incubator's success. Their commitment is necessary for the operation of the university's business incubator.

4. Mission and Purpose:
The business incubator's goals and objectives must align with both public and private sector needs, ensuring that the incubator serves the entrepreneurial ecosystem effectively.

5. Organizational Design and Governance:
Establishing the appropriate organizational structure, norms, and frameworks is necessary to manage the incubator's operations and ensure that it meets its goals.

6. Facilities and Services:
It is important to determine which facilities and services incubator tenants are entitled to use. This includes the hiring and training of administrative and professional staff to support the operations and success of the incubator.

7. Staffing:
In the "staffing" phase, university business incubators are expected to utilize internal resources effectively. This includes researchers, students, and faculty members who contribute their expertise and knowledge to support the start-ups within the incubator. These resources are integral in fostering a collaborative and innovative environment.

8. Detailed Business Plan:
A comprehensive business plan is crucial for the success of a university business incubator.


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The plan must detail the processes of commercialization and monetization, combining the elements of a private business incubator with those of a university-based incubator. This ensures the smooth transition of start-ups from the incubation phase to a fully functional, independent business.

9. Creation of Networks:
Building strong networks is essential for the success of the incubator. This involves increasing public awareness of the incubator’s offerings, promoting it to potential tenants, and creating partnerships with external organizations. These partnerships help provide the necessary resources and services to incubator tenants, such as funding, expertise, and industry connections.

10. Economic Impact:
It is important for the incubator to measure its effectiveness by developing specific criteria or indicators that assess its economic impact. This can include evaluating the financial success of the start-ups, their job creation, innovation contributions, and overall economic benefit to the community.

By focusing on these areas, university business incubators can provide the necessary resources, support, and strategies to ensure the successful launch and growth of start-up businesses.

Figure: University Business Incubator Model
mjar_190_01.JPG

5. Challenges of Academic Incubation

Academic incubators play a vital role in fostering entrepreneurial ventures; however, they face several challenges, as identified in the LEED Report (2018). These challenges must be addressed to establish successful entrepreneurial universities.

1. Financial Resources:
One of the main challenges is securing sufficient financial resources for incubators. The available funds often do not match the scale or needs of the initiatives, with many programs having specific requirements that certain projects do not fulfill.

2. Business Considerations vs. Technological Challenges:
In contrast to technological hurdles, business considerations such as acquiring permits, making agreements, and collecting data often present more significant challenges for incubators and the startups they support.

3. Infrastructure Utilization:
While incubators may offer infrastructure, the lack of interest in the program can lead to underutilization. This may result in the infrastructure being used for administrative tasks instead of supporting entrepreneurial activities.

4. Commitment and Flexibility:
It is crucial to demonstrate a commitment to the incubator's development by tracking milestones and resource usage. However, the incubator should also offer space for innovation and flexibility for startups to experiment and grow.

5. Informal Discussions for Addressing Challenges:
Rather than relying solely on formal evaluations, incubators should prioritize informal discussions to address challenges and provide ongoing support, creating an atmosphere conducive to innovation and entrepreneurship.

6. Lack of Qualified Mentors:
A significant challenge is the shortage of qualified graduates who can serve as mentors to students. While a few individuals may meet this need, the majority lack the expertise or commitment to do so.

7. Geographic Disparity:
Entrepreneurship activities are often concentrated in metropolitan centers like Bangalore and Mumbai, leaving secondary cities with limited support for budding entrepreneurs.

6. Conclusion

The integration of business incubators within universities is essential to fostering entrepreneurship and encouraging new business ventures, especially in emerging economies like India. Many students, due to their youth and lack of financial obligations, are more likely to take risks and engage in entrepreneurial activities. This chapter contributes to the understanding of the role universities play in supporting the establishment of business incubators and innovative start-ups.


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Universities, with their vast knowledge resources, significantly impact the creation of local start-ups. However, the lack of a direct correlation between business incubators and the ease of doing business (EODB) suggests that the success of start-ups is more reliant on individual involvement and academic dissemination of information.

Future educational institutions should foster an environment conducive to entrepreneurship, encouraging students to pursue their business ideas. Programs like Startup India (2016), with its financial incentives and support for start-ups, have helped establish over 10,000 start-ups in India. However, findings show that 50% of educational institutions lack proactive measures to encourage entrepreneurial activity, including the establishment of incubators. The chapter suggests that universities should allocate 2% of their budget to establishing fully operational internal incubators, similar to CSR requirements for multinational corporations. This initiative could address the lack of entrepreneurial drive on Indian campuses, and support India’s goal of creating a self-sufficient, job-creating nation.

Research indicates that incubated start-ups have a significantly higher survival rate (80%) compared to non-incubated ones, and incubated start-ups grow faster. The study emphasizes that university spin-offs and incubators can act as accelerators for economic growth and innovation. Increasing the number of incubators would support the growing demand for new businesses and contribute to a thriving start-up ecosystem.

Further studies could focus on understanding the motivations behind the creation of business incubators in India, exploring the role of legislation, and examining the factors that influence the success of start-ups. Empirical research on successful start-ups within academic institutions can provide valuable insights into the entrepreneurial environment. The findings also suggest that the identities and motivations of academic entrepreneurs—such as the drive for self-actualization and the desire to disseminate technology—play a significant role in their success.

Variables Identified for Future Study

The chapter identifies several key variables that will inform future research on the role of academic incubators in promoting entrepreneurship and the establishment of student start-ups. These variables include:

  • Need for achievement
  • Need for independence
  • Financial success
  • Self-realization
  • Social norms
  • Innovativeness
  • Risk-taking behavior
  • University support
  • Entrepreneurial self-efficacy
  • Entrepreneurial intention

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