One of the biggest hindrances of a hi-tech, innovative start-up is making your idea into a reality, making a prototype. While an IT or automation start-up may not have as many restrictions, a biotechnology start-up sure does. For you to have the prototype and conduct the most basic, preliminary tests, it all calls for a fully functional Wet lab something close to a 20 Million worth of investment. The instruments required and their cost, as well as availability, stands as a big roadblock between you and your dream. Five years back, getting funding was a cakewalk if only your idea was good enough in today's date. Now, it holds no value unless you have a working prototype and a few 100 customers ready to buy it. Given this situation, getting a technology partner is the way to go. With the booming start-up ecosystem and government's initiatives and the countries' leading educational institutions opening up the opportunities, an institutional tie-up or collaborating with one such institute or connecting with an accelerator seems only natural.
"With the booming start-up ecosystem and government's initiatives and the countries' leading educational institutions opening up the opportunities".
For starters, it gives your start-up the basics of "roti, kapda, makkan."Thus, finding the perfect fit for an institutional partner could actually open a lot many avenues for you. Many colleges today have institutional opportunities (depending upon what is the right fit for your start-up). In addition to that, there are other angel investors and private firms too opening the doors f
or you. Pradeep Gupta, who was also awarded the best mentor at the National Entrepreneurship Awards 2016, has opened the Electropreneur Park, another accelerator for the electronics start-ups to have the right kind of hardware re-sources. While, some partners/accelerators can provide you with the right kind of infrastructure, others support you with the right kind of "best in the business" kind of mentors. Becoming a part of one of eminent institutions/partners has its own challenges. The bigger challenge is to find the right kind of incubator that fulfills your requirements in the best possible way. While they all have a lot to offer, it is all a matter of having the right fit! And, of course, a killer idea and a superb execution plan!