AMITY INNOVATION INCUBATOR WINS AABI'S INCUBATOR OF THE YEAR AWARD OUTPERFORMING INCUBATORS FROM 19 MEMBER COUNTRIES

NOIDA, India, Nov. 5, 2024 /PRNewswire/ -- The Amity Innovation Incubator won the Asian Association of Business Incubation (AABI) 'Incubator of the Year Award 2024', outperforming incubators from 19 countries. The award was presented at the ISBACON 2024, the 16^th Annual Conference of the Indian STEPs and Business Incubators Association (ISBA), in the presence of over 200 industry experts, thought leaders and government representatives.

The Amity Innovation Incubator and TusStar were awarded the title of 'Best AABI Incubator of the Year for 2024' surpassing nominations from AABI's 19 member countries including China, South Korea, Japan, Chinese Taipei, the Philippines, Indonesia, Australia, Hong Kong, New Zealand, Vietnam, Thailand, Pakistan, Malaysia, Singapore, India, Saudi Arabia, Uzbekistan, Kazakhstan, and the Kyrgyz Republic.

The AABI grants the 'Incubator of the Year' award annually, recognizing outstanding business incubators across the Asia-Pacific region. The award evaluates several criteria, including:

Support for Innovation and Entrepreneurship: How effectively the incubator fosters innovation and assists startups, especially in technology-driven sectors.

Graduation Success: The number and success of companies graduating from their programs, including funding raised, patents filed, and global market reach.

Impact on the Ecosystem: The incubator's broader contributions to the entrepreneurial ecosystem, such as collaborations with universities, research institutes, and other stakeholders.

Upon receiving the award, Mr. Ojasvi Babber, CEO, Amity Innovation Incubator, said, "This accolade is a testament to the dedication and efforts that align with the vision of our President Dr. Aseem Chauhan, as well as the support of our exceptional network of startups and stakeholders in the ecosystem, along with the hard work of our entire team. It motivates us to continue driving entrepreneurial success and contributing to the global startup ecosystem with renewed energy and vision."

Mr. Babber also shared his thoughts in a panel discussion at the summit, known to be India's largest gathering of startup incubators, on the topic 'AI Transformation: Challenges and Opportunities for International Business Incubation '.

The Amity Innovation Incubator constantly strives to be at the forefront of technology and innovation, having been ranked in the band of 'Top Performers' among the 12 best incubators of India in 2023 as per the 'Assessment Framework for Startup Incubation Centres' created by the Atal Innovation Mission, NITI Ayog in collaboration with the World Bank and the Indian Institute of Technology, (IIT) Delhi.

The AABI, founded in 2002, is a global network dedicated to fostering collaboration and promoting innovation and entrepreneurship throughout the Asia-Pacific region. By bringing together business incubators, government organizations, and innovation hubs, AABI builds a solid support framework for startups and rising firms. The group accelerates the establishment of innovative firms and drives economic development throughout the region by sharing expertise, exchanging resources, and forming strategic relationships.

The award represents the shared success for all stakeholders in the ecosystem of the Amity Technology Innovator, highlighting the collaborative spirit and dedication to excellence that drives its mission.

About the Amity Innovation Incubator:

The Amity Innovation Incubator is a pioneering concept in the context of Indian Universities. Supported by DST, Ministry of Science & Technology, GOI, the Amity Innovation Incubator has in a very short time of its existence earned an enviable position for itself with start-ups that have regularly been on top of the innovation curve and have been recognized on platforms like 'The Power of ideas', Red Herring Global winner, Tata NEN and NASSCOM Innovation Awards to name a few. Recently, the Amity Innovation Incubator was selected as a key partner for the Indian Ministry of Defence's iDEX initiative to facilitate a culture of technology co-creation and co-innovation within the defence and aerospace domains.

Amity Innovation Incubator has a clear philosophy to encourage and incubate technology-based new enterprises with innovative products and services. The stringent selection process is the reason behind the success of 'Amity Innovation Incubator'. Each business proposal/Incubation request is carefully screened on various parameters set up by Industry experts/mentors to ensure that only commercially viable and investable proposals get through.

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