The phenomenal growth of the incubators world over in last two decades, the concept the nurtures innovative ideas requiring mentoring, infrastructure and resources into successful technology business, has benefited many countries. This has also helped in utilizing technology as a means for their economic development.
The primary goal of a business incubator is to facilitate economic development by improving survival and growth of new entrepreneurial units. Incubators accelerate the development of young entrepreneurial units. Incubators accelerate the development of young entrepreneurial company from ideas stage to independent self-sustaining successful business.
TBI provide workspace with shared office facilities with emphasis on business and professional services necessary for nurturing and supporting early stage growth of technology and technology based enterprises.
The National Institute of Technology Calicut has set up a Technology Business Incubator TBI-NITC with the support of National Science and Technology Entrepreneurship Development Board (NSTEDB), Department of Science&Technology, Govt. of India, to incubate start up industries in the IT and electronics.