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Incubation Policy

Incubation Policy and Guidelines

AIC BAMU Foundation wishes to facilitate the creation of ideas and inventions that benefit society. The scope of this docment is to define the policies and procedures for the operational matters related to the AIC BAMU Foundation. The policy is subject to periodical review and amendments. It will be the responsibility of the start-ups admitted to AIC BAMU Foundation to update themselves from time to time on amendments in Incubation policy and procedures. AIC BAMU Foundation reserves the right to make an exception of all or any of the terms of policy for a particular company or a promoter on a case-to-case basis.

Types of Support Offered

  • Support offered to groups/teams having an idea which can be converted into a start-up venture and have not yet incorporated a company. The idea could be at the initial stage or developing a Proof-of-Concept.

  • Pre-incubation support can be offered to groups/teams from BAMU, Other Universities or Separate entities having a valid business idea.

  • The period of Pre-incubation would be for 1 year.

  • Pre-Incubation service fees details are provided in Annexure I.

  • The benefits of a pre-incubatee are summarized in Annexure II.

  • Any person desirous to avail incubation facilities has to incorporate a private/public limited company/ LLP (as defined in the Companies Act, 2013). This condition may be relaxed for 6 months, provided they incorporate their start-up within 6 months of Incubation at AIC BAMU Foundation. In that case a LOI needs to be signed and submitted to the Incubator.

  • Support offered to start-up ventures having registered entities and having developed initial prototypes or validated their product/services in the market with some initial customers.

  • The companies promoted by the Faculty of BAMU shall be governed by policies for Faculty Entrepreneurship of the BAMU available at the office. The companies promoted by full-time students at BAMU have to provide a No Objection Certificate and Self declaration about their company interest and BAMU will not be responsible for any impact on their academic activities.

  • Other start-ups, not linked with BAMU, have to be either Technology based or Companies creating Social Impact and would be encouraged to have an association with BAMU e.g., having a mentor or advisor on the Board. The Incubation Center will provide all support in facilitating the association. However, Incubation center can incubate and allow time to identify the mentor. Any other exceptions will be decided by the committee.

  • A company if promoted by an employee of Govt. / Organization shall be granted Incubation only upon submission of ‘No Objection Certificate’ from the competent authority or employer.

  • Incubation Fees are to be paid by start-up in advance as mentioned in Annexure I with an appropriate security deposit as per Incubation Services Agreement.

  • A graduated start-up shall not be incubated again for the same startup venture.

  • Support offered to start-up ventures having registered entities and do not require physical infrastructure (working space) at the Incubation Center.

  • Any person desirous of availing incubation facilities has to incorporate a private/public-private limited company (as defined in the Companies Act, 2013). This condition may be relaxed for recent graduates for the initial term, provided they incorporate within 6 months to 1 year of starting at AIC- BAMU Foundation. The Incubatee has to sign a declaration(s).

  • The virtual incubated company should be having innovative ideas/POC with a sustainable revenue generation plan.

Eligibility

The institute has designed and developed mechanisms and bodies to help create new enterprises that employ technology and social impact developed by its faculty and students. Any person desirous of availing incubation facilities has to incorporate Private Public Limited Company under the Indian Companies Act 2013 and apply In the prescribed format along with the required documents. No application for Incubation can be entertained if the applicant has not incorporated a Private/ Public Limited Company under the Companies Act.

The companies promoted by Facuity of Dr. Babasaheb Ambedkar Marathwada University shall be governed by Faculty Entrepreneurship Policy as approved by the Institute.

Companies that are promoted by students enrolled for full-time Degree at an educational institute shall not be offered incubation if the student is holding An Executive position, however companies promoted by students are eligible apply for incubation provided the student is not actively engaged with the company beyond any engagement which may be permitted by the Institute.

A company if it is promoted by regular Government staff or employees shall be granted incubation only upon submission of “No Objection Certificate” from the competent authority or employer. However, companies having employees as shareholders are eligible to apply for incubation.

Any company that is or proposing to be engaged in imparting educational courses and/or training program including vocational programs or is planning to undertake auch activities during or after its incubation at AIC-BAMU Foundation is not deemed eligible for incubation and their application will not be entertained.

Incubation Admission procedure

  • Call For Application (Yearly twice)

  • Initial Screening (Identifying Potential ideas and credibility)

  • Sharing Application Form and Pitch Deck Template

  • Conducting a Startups Selection Committee (SSC) (yearly twice)

  • All Applicants need to come and pitch in front of the Startups Selection Committee (SSC)


Sharing Draft Agreement (All the applicants shall have to read and agree to the terms and conditions of the incubation, their applications shall be processed only when they agree to the “terms and conditions of AIC BAMU Foundation”.)

Infrastructure and Services provided to incubatees

  • Office space

  • Internet connection

  • Standard Furniture as decided by AIC-BAMU Foundation

  • Library

  • Meeting/Conference room with projection equipment

  • Tele or Video conferencing facilities

  • Common secretarial pool/staff

  • Intern Support: Also, to provide support in management, incubates will be assigned to an MBA student, if desired.

  • Mentoring and Advisory Services

  • Strategic Checkups: The AIG-BAMU Head will meet with company CEOs at least once per month for strategy reviews and discussion of operational issues.

  • An Incubated company has to take a faculty advisor as a mentor on technology issues.

  • Specialized mentors are also available to the companies to assist with particular strategic areas or to provide project-oriented consultation. These arrangements may begin as a pro bono arrangement with an option for both parties to graduate to a paid relationship.

  • An Incubated company may avail of consulting services by empaneled professionals of AIC-BAMU Foundation.

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