Innovation has long been acknowledged as central to economic growth and social development. Innovation generally refers to the process of creation, acquisition, diffusion, absorption and use of knowledge, which creates added value in the economy in the form of new or improved products, processes or organizational models. Innovation is a successful exploitation of a new idea. It is not a demonstration of an idea or not merely an invention. It is an idea in practice, in the field, in the market place, in the society. The journey from mind to marketplace is a challenging journey. A community based incubation center is a relatively new concept of innovation where interested people of any age and level of education may join and share new ideas that may be translated to new wealth. The following section explains this concept of innovations in details.