Chitkara University Launches EXPLORE HUB

India has seen a significant growth in adopting entrepreneurship as a career. Young minds coming out with new ideas and innovative solutions to serve the society better. India has stepped into an era of entrepreneurial zest and Chandigarh is at the forefront. This vibrant city has seen a tremendous rise in the startups. To nurture this startup culture CHITKARA UNIVERSITY is coming out with a new and noble idea of EXPLORE HUB. A Startup incubator cum Accelerator where industry leaders, young, passionate and enthusiastic minds are coming together to explore new business opportunities. The Explore Hub provides an ecosystem where a business can grow, share technology and get support from the industry leaders. The incubator is a landmark structure, modern and provides a superbly crafted space for working enthusiasts.

Incubator spreads in an area of 15000 sq ft. offering a working capacity of over 40 startups (200 people). Located at the main campus of the Chitkara University, Punjab, Explore Hub was launched on 18th March 2017 by Consulate General of Canada, Chandigarh Mr. Christopher Gibbons. It provides state of the art infrastructure and is one of its kind. It houses everything from the corporate government or university labs to small companies. It partners with local SBDC (Small business Development Corporation) to create a one-stop solution for entrepreneurial support.

Since startups lack many resources at the early stage. To help them to get through these hurdles. Explore Hub provides a range of facilities to foster the spirit of young entrepreneurs.

Among the most common services;

1. Help with business basics

Starting a new business involves planning, making key financial decisions and completing a series of legal activities. So they provide a complete business assistance to help, nurture the young minds.

2. Marketing assistance and research

Marketing is a strategic tool for business development and is critical for the growth and survival of new businesses. Marketing is the most important factor for the success of any enterprise. Start-up entrepreneurs do not have these resources at their command and thus needs institutional support for working in the area of marketing.

3. High-speed internet access

A reliable internet connection is crucial for many business functions these days. Businesses need high-speed internet connectivity to compete with other businesses on a global scale and expand their businesses.

4. Accounting and financial management services

Accounting is a pulse of any business, it mostly required for controlling the financial expenses. Accounting is the prime way for a company to determine its productivity & profit both. Whether it is a start-up or a large business, accounting is crucial requirement to forecast financial estimates.

5. Access to angel investors or venture capital

Investors are those who provide capital for any business in exchange for ownership equity. Here, at Explore Hub, they have industry link-ups with small or medium investors who may provide capital assistance to your business.

6. Help in regulatory compliance

Regulatory compliance is often overlooked by many Organizations because they are not aware of the existing laws, policies, and regulations. Ignorance is not a bliss in the case as it affects start-up viability. It is always a safer option to register business at the initial stage and follow the regulatory norms.

The EXPLORE HUB is a one of its kind platform for all the aspiring entrepreneurs, investors, and accelerators by any university in the north India. It not only provides an opportunity to the students who want to start their own business at the university level but also gives access to numerous resources to learn and develop a program under the mentorship of experienced faculty. The university is also running a mentorship program like Startup OPD- A daily two hrs mentorship program for early startups and STARTUP DAY- A much mature business idea development program crafted by the university in 2016, which offers a winning prize of worth 1000 USD for best business and one-year free incubation space.

The EXPLORE HUB is a center for entrepreneurs, innovators, faculty, industrial players and funding organizations interested in gathering, interacting and collaborating to promote startup culture and local entrepreneurial ecosystem.