Eligibility Criteria and Admission Procedure

• Any student, staff, alumni, or persons desirous of availing incubation facilities have to apply in the prescribed format along with required documents. The prospective candidate should submit an application in the prescribed format containing the business plan and shall present the executive summary to the review committee. The committee is authorized to make comments on technical and business feasibility of the idea and recommend to the Centre.

Infrastructure and Services provided to incubates

• Mentoring and Advisory Services: the candidates can take a faculty advisor as a mentor for startup issues. Support for research activities/ legal services / market accessibility - An incubated company can take a faculty advisor as a mentor on technology issues.
• Institutional Infrastructure: SAIC may facilitate access to the Institutional infrastructure or laboratories as per the norms of University. The Centre offers fully furnished space to the incubators with Wi-Fi facility along with Seminar / Conference Halls.
• Common Infrastructure: SAIC provides a common pool of hard and soft infrastructure to be shared by all incubated companies. The following resources are provided: Photocopying machine, Access to college Library: Books, Subscription to IT, Business, Management and Trade journals and newspapers, Meeting/Conference room with Audio and projection equipment, Tele or Video conferencing facilities.

Tenure of Incubation

• The incubators will be permitted to utilize the incubator services for a period of two years. They may be granted a maximum of two extensions of 6 months each, at the sole discretion of the Institution.
• Completion of two year stays (if no extension granted).
• Underperformance or non-viability of business proposition as decided by Committee
• Violation of the policy of institution (SAIC).
• Any other reason for which SAIC may find it necessary for an incubated company to leave.

Periodic Assessment

• A review committee set up by SAIC will evaluate the performance of the incubatee every six months.

Seed Funding

• SAIC may provide seed fund subject to the availability of funds/ grants/ schemes meant for this purpose. A company desirous of getting seed fund may submit an application for seed fund after three months of incubation at SAIC. The seed fund will be sanctioned based on the eligibility criteria as decided by SAIC from time to time. It would also be subject to the terms stipulated as per the Seed funding Guidelines of SAIC.

Business Plan Template

1. Introduction / Company overview
2. Concept / Proposition / Product description
3. Market opportunity
4. Competition survey
5. Development plan and milestones
6. Marketing plan
7. Management / Organizational chart
8. Financials
9. Risks and de-risking strategies
10. Appendix

Agreements

1. Incubation Agreement: Contain rules and other incubation norms, consideration, equity holding, etc. (Applicable to all.)
2. Seed-Fund Agreement: Contain rules of disbursement and repayment. (Applicable to incubate availing seed-fund.)