Business incubation has been globally recognized as an important tool for job creation and economic development. ICPS Division of the Department of Science and Technology, Government of India is supporting Technology Business Incubators primarily in and around academic, technical and management institutions to tap innovations and technologies for venture creation by utilizing expertise and infrastructure already available with the host institution. Recently non-academic institutions have shown interest in setting up CPS-TBIs. Technology based new enterprises are high risk and high growth ventures, and require an enabling environment like CPS-TBI to enhance the prospects of their success. There are different variants of incubators like – Technology Business Incubators (CPS-TBIs); Innovation Hubs; Centers for Innovation &Entrepreneurship; Virtual Incubators and Seed Accelerators.