Incubators – the new fads of entrepreneurship? Translators help scientists and engineers take their work from the laboratory to a point where it can be developed for commercialisation. They usually do not develop the idea to the point of manufacturing and marketing the product on a commercial scale. They are especially relevant in the fields involving deep science such as drug development where once the molecule is developed in the lab further work needs to be carried out on how to make it ready for industrial production. Incubators are facilities where entrepreneurs can develop a business plan for an idea they have identified. They also support product development and testing, starting from the building blocks of technology. A more contemporary extension of incubators, accelerators, as the name suggests, help accelerate the commercialisation of an idea by enabling quick and efficient customer acquisition. thehindubusinessline/features/incubators-the-new-fads-of-entrepreneurship/article6258026.ece
Posted on: Mon, 28 Jul 2014 21:02:31 +0000
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