Academic institutes provide fledgling startups with the money, knowhow and guidance they need to become world-ready
A lot of eyes widened when Stanford University sold its stake in Google for $336 million in 2005. In 1996, Larry Page and Sergey Brin had begun a research project as PhD students at the university. Started as google.stanford.edu (now google.com), the search engine giant had, in its initial days, used the domain expertise of the university’s professors and the much-needed cash to survive.
This essentially is the idea of academic incubation, where the incubation cell of an academic institute provides the space for an idea to breathe, along with the required resources, training and infrastructure in exchange for a small stake in the company, or other conditions.
(This story appears in the 26 April, 2019 issue of Forbes India. To visit our Archives, click here.)