Incubation Centre

Eligibility for a Start-up

  • Students/Companies desirous for setting a start up shall have a ready proof of concept that can be transformed to final product.
  • Company formed as Pvt. Ltd, One person company , LLP registered as per Govt. of India’s appropriate laws are eligible.
  • Start ups desirous to incubate at TIES and not formally registered will have to register their company within 3 months of entry to TIEC.
  • Faculty start up to be allowed subject to permission from Director -SGGS as per guidelines.
  • Students start-ups shall be allowed to incubate
  • Educational training companies, courses, vocational training, distribution or trading of a goods etc shall not be entertained.

Entry Policy

The prospective start-up shall be evaluated on following criterion

  1. The business idea proposed shall be Technology based . Preference will be given to those who have a ready proof o f concept ( POC). It will also be evaluated for  relevance of technology, product idea innovation,  Timelines and market availability.
  2. Profile of the core team / promoters.
  3. IP already generated or potential of the idea for IP generation.
  4. Financial commercial viability – Start up may give 5 years projection on P&L, Cash flow
  5. Time required to put the product to market (If product is under development / prototype ).
  6. Break even period
  7. Based on commercial potential  and market demand
  8. Scalability of idea.

Entry Procedure:

 

Exit Policy

The Start up companies will exit from TIEC

  1. On completing 3 years unless mutually extended.
  2. Unsatisfactory business performance or no business.
  3. On attaining annual turnover of 2 cr or net profit after tax exceeds 25% of turnover , which ever is higher.
  4.  When number of employees exceed 30 excluding intern students.
  5.  In case of dispute among promoters
  6.  Change in promoters without acceptance of TIEC
  7. Violation of policies laid down by TIEC
  8. Any other reason that TIEC management feels that incubatee leaves the TIEC.

Facilities to Startup.

  1. Infrastructure and Equipments
  • Basic facilities of standard furniture and fixtures with Single phase power supply suitable for technology start ups without financial liability.
  • Access to equipments available and workshop at concessional rates.
  • Facilitation
  • To connect with ecosystem of design houses, conducting field trials.
  • For manufacturing and scaling up
  • For showcasing the product in appropriate platform.
  • For events like demo day for pitching to investors.

ii)Mentoring and Coaching

  • Two mentors will be assigned to each start up.
  • Connect with functional expertise and CxO level inputs.
  • Expert sessions on business and technology development.
  • Regular networking events with entrepreneurs and industry experts.
  • Sessions on state and central govts. Schemes.
  • Exposure to VC’s and Angel Investors.

Intellectual Property (IP) Policy

  • The IP already owned remains property of Start up
  • IP developed by Start up  exclusively and independently  at TIEC will be owned by them.
  • Any IP developed in partnership with the faculty and students shall offer due credit to the members.

IP developed by faculty/Students and licensed to the incubatee for monetization, shall have revenue share in form of equity as decided by TIEC on time to time.