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An incubator is by definition a growth infrastructure which helps new ventures develop into successful businesses. The process usually involves the provision of physical and communication facilities as well as networking possibilities and education. Via the assistance provided, the start-up will eventually gain access to capital.

Origin

The concept of incubators was born in the United States in the 1950s, but primarily became noticeable in the mid-1990s. Indeed, the dot-com boom resulted in a chain of incubators and 2005 finally saw the creation of Y Combinator. This American organisation is one of the leading incubators around the world. It is at the base of successful companies such as Dropbox, Airbnb, Twitch, Quora and more such enterprises.

Y Combinator is also known as the company which sparked the rise of modern incubators around the world. For instance, there are approximately 7000 incubators worldwide, according to the National Business Incubation Association (NBIA). Amongst these, 1250 can be found in the United States alone, 700 in China, 400 in Brazil and 220 in the United Kingdom. Mauritius also has some incubators, although the numbers are less impressive.

Impact of incubators

All of these incubators are impacting on the worldwide start-up scene and individually changing specific entrepreneurial landscapes. The survival rates for businesses that go through incubators are reportedly around 92%. Their success is attributed to various aspects.

Guidance

While some value the development of business skills, others highlight the networking advantages that come with incubator programs. Start-ups gain both credibility and value when associated with incubators and the latter’s sponsors. Also, they are less likely to scramble with official/legal paperwork with the provided guidance. These contribute to raising a confident batch of start-ups that can tackle markets and challenges with relative ease.

A good work environment

The provision of office equipment and a functioning work space also impacts on the entrepreneurial scene in various ways. Firstly, these give entrepreneurs the necessary tools they need to cultivate their ideas and to network with other start-up owners. The potential for growth is considerably greater in this sense.

The whole ecosystem benefits from incubators

Also, with access to these facilities, entrepreneurs are given a place to start, which boosts their involvement in their project. It is therefore safe to say that incubators promote and actively participate in the growth of entrepreneurship on various levels.

For instance, the start-up ecosystem is seeing changes at both macro and micro levels with the involvement of incubators. The organisations help with the economic growth of a country. They also have a hand in the creation of wealth, jobs and innovation ventures. Additionally, incubators aid in the fostering of an entrepreneurial culture on a local level. They promote research and create opportunities for university students and in certain cases also impact on international trade.

On a more specific note, the changes that incubators are bringing to the entrepreneurial scene in India reflect the local population’s drive in terms of start-up creation. However, while around 5000 businesses are created in the country each year, a lot of these start-ups end up dying due to a lack of support. This can be attributed to the gap between entrepreneurs’ expectations and incubators’ offers.

In any case, Mauritius has a lot to learn from incubator experiences and impacts worldwide. The advantages that these business hubs provide can be very beneficial to the local entrepreneurial scene.

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Turbine proudly hosted the Digital for change summit which was organized by the Digital Marketing Mauritius. This event had for purpose to share knowledge on digital transformation, promote the creation of a network of digital marketers and encourage entrepreneurs and individuals as well to make the best use of digitalization.

Digital Marketing Mauritius

The Digital Marketing Mauritius was launched in 2017 by Jason Bholanauth and joined later by Madevi Subramanian, Dylen Citta, Jemilla Greedharry, and Pahlavi Tilloo. This group of dynamic digital marketers started with the vision to provide a platform of knowledge sharing and learning about Digital Marketing since this field is still new and vast, constantly changing and interesting.

Digital for change Summit

The event was well received by the audience, there were a total of 184 registrations. We were honored to have 3 inspiring speakers who shared with us their experiences.

 

Natacha Emilien, Red Dot, Turbine, Business Incubator, Coworking

Natacha Emilien, the Co-founder and Managing Director of Red Dot, shared with us how in her quest of satisfaction and self fulfillment. She changed her career path from engineering to accounting. After 13 years as an employee, she is now an entrepreneur who is much more happy, with the feeling of being free and having a bigger purpose. She encouraged the audience to go forward and try things, the first choice may not be the right one though the experience is worth it.

 

Turbine, Quantum, Business Incubator, Digital Transformation

Chen Hindi, General Manager and Head of digital at Quantum, explained how the various tools of digital marketing can be exploited for more concrete information and thus better strategic decisions. She also believes that despite the lesser response rate, email marketing retains people who are genuinely interested and give their undivided attention to the mail while they read. Chen gave some foolproof examples of companies who are successful through digital marketing.

 

Sean Fourmacou, Digital Transformation, Turbine Business Incubator, Coworking

Sean Fourmacou, Founder of YouthSceal, brought another aspect of digital marketing: a platform to sensitize people and address social issues. He explained that social media allowed him to reach the mass population whereby his messages were heard, seen through videos and people could connect and engage. Sean learnt how to make use of digital marketing to meet his purpose. He showed the various actions that have been done by YouthSceal which were very impressive. Sean also encouraged the audience to make best use of digital marketing so as to connect people and get things done for a better society.

The feedback that this event received was very positive. each person who attended this event learnt at least 3 new things. The dynamic interaction that followed between the speakers and the audience after each presentation showed the intensity and success of the event.

What is next?

Follow Digital Marketing Mauritius on Facebook and stay tuned for their next event.