Business incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts. Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve.

Business incubation has been identified as a means of meeting a variety of economic and socioeconomic policy needs, and it includes

• Creating jobs and wealth
• Fostering a community's entrepreneurial climate
• Technology commercialization
• Diversifying local economies
• Building or accelerating growth of local industry clusters
• Business creation and retention
• Social Empowerment
• Identifying potential spin-in or spin-out business opportunities
• Community revitalization

The process of work we follow at Growth Lab

• Help with business basics
• Networking activities
• Marketing assistance
• High-speed Internet access
• Help with accounting/financial management
• Access to bank loans, loan funds and guarantee programs
• Help with presentation skills
• Seed Fund Support
• Links to strategic partners
• Access to angel investors or venture capital
• Comprehensive business training programs
• Advisory boards and mentors
• Management team identification
• Financial Planning Asssitance
• Technology commercialization assistance
• Help with regulatory compliance if needed
• Intellectual property management

Scitech Park entered into a collaborative agreement with Fondation Sophia Antipolis on 19th September 2006 and the Growth Lab  was formally inaugurated by Mr. Pierre Lafitte, Founder Fondation Sophia Antipolis & Senator Alpes Maritimes on 15th of May 2007.

The Growth Lab is the Technology and Business Incubator situated about 15 km from the University of Pune, that hosts the Sciitech Park. It is situated in well orchestrated sylvan surroundings and has about 45000 sq ft of space available for various activities of the incubation program. It has been visualized as a center for excellence that experiments on Growth by providing key inputs in Science and Technology.

Experts, Institutions/organizations are welcome to join the incubation program and benefit from the opportunities available to start up companies both from India and overseas. The Growth Lab is also an excellent platform for Micro Small and Mini Enterprises (MSME) for starting new ventures.

Purpose of Founding Growth Lab
Pune region is well known for good industrial climate, supportive and progressive government, growth oriented and investment friendly policies, good infrastructure, availability of excellent human resources because of strong academic and research base. The region is home to many industrial houses and companies in the areas of automobiles, biotechnology, pharma, electronics and information technology.
The Growth Lab leverages the Scitech Park as the industry academia bridge and aims to convert Job seekers to Job providers through the concept of technology and business incubation. The Growth Lab provides ideal settings to start these dream ventures

Scope

A strong board of mentors with proven expertise and academic excellence handhold entrepreneurs helping them to translate visions to visible manifestations

The Growth lab currently focusses on
a) Clean Technologies
b) IT Open Source and Open Platform Technologies

There are various sectors where in 38 companies have been incubated under the Business Incubation program