About
The Technology Business Incubator (TBI) has been in active operation in the Institute since the year 2000. The TBI is conceived, programmed and implemented by the Foundation for Innovative and Technology Transfer (FITT) – the Industry interface unit of the Institute. The objective of the TBIU is primarily to promote partnerships with new technology entrepreneurs and start-up companies.
Who can incubate
The Institute’s incubation program has been set up with the aim of converting technology-based innovative ideas into commercially viable products with a competitive edge over products by others. Developing technology-based products require relevant qualifications and knowledge with proven results. Hence,
- Engineering graduates from educational institutes of repute having innovative technology-based ideas may apply for incubation at the Institute.
- Under special circumstances, incubation proposals from graduating students (having completed three-fourths of graduate studies) may be considered if submitted with No Objection from the graduation institute.
Categories of Incubatee
Within the existing policy guidelines of the Institute, the following categories of entrepreneurs are eligible for the incubation programme:
- An incubator nursery programme initiated by one or more members of academic staff, students or alumni of one of the Institute or a faculty-student led company.
- A start-up company formed by one or more first-generation entrepreneurs.
- R&D division of existing Small & Medium Enterprises (SMEs).
The ventures addressing developed products/services, leveraging technologies having homology in the Institute shall be incubated by start-up units preferred for residency in the order listed above.
Selection of Incubatees
An individual/startup submits a duly filled-in Preliminary Application Form TBIU-APPLICATION-FORM.pdf (fitt-iitd.in) to the FITT office or emails at fitt.incubator@gmail.com. Applications after scrutiny for completeness and innovativeness in the idea are put up to the Institute's TBIU Standing Committee (TSSC). The Standing Screening Committee in the Institute on predefined criteria appraises each incubation proposal and the business plan. Generally, an application is approved for incubation for 2 years. Program-specific applications shall be approved for the period specified in the Program guidelines. An individual entrepreneur/applicant has to form a private limited company before the start of incubation. The startup company shall have an authorized capital of Rs.5.00 lakh and a paid-up capital of Rs.1.00 lakh. Incubatees are allotted for incubation operations workbench / modular space or rooms of size and at a location per the requirement of the incubatee. Incubatees issue up to 5% of their equity shares to FITT depending on the development stage of the proposed end product. Startups shall deposit refundable security equivalent to one month’s incubation charges.
Incubation spaces and facilities
Startups are allotted Coworking seats / Workbench / Modular Space / Rooms / Labs at the Institute incubators. These spaces are available at much cheaper rates than the rates prevailing in the market. They may also be allotted a combination of spaces. The size of the incubation space ranges from 12 sq. ft. to 400 sq. ft. The incubation spaces, centralized air-conditioned, are equipped with lighting, tables, seats, electrical fittings, storage cupboards and almirahs, etc.
In addition, the startups shall be allowed to use various facilities provided at the incubators of the Institute. These include Reception, Internet, Fax, Photocopy, Pantry, Canteen, washrooms, Meeting Rooms, Conference Rooms, Training Room, Auditoria, Small and Large Board Room, Suites, Equipments, Labs, 3-D Printing, Parking, etc. The biotech incubator is further equipped with various equipment, devices, chemicals, meters, lab apparatus and wet-stations, etc. The facilities shall be used as per norms set for the purpose. Most of these facilities are available free of charge.
Permitted activities in the TBIU include product development, product innovations, software testing, simulation and prototyping, pilot experimentation, training, and similar other technology-related work, in which homology exists with the Institute.
Funding support to incubatees
Physical and virtual incubatees shall be provided with fund support of reasonable order. FITT has provided fund support from its own sources and under a Govt./Corporate sponsored program. FITT fund support shall be provided as a stopgap/bridge loan.
Many Government Departments have appointed FITT as a partner for providing fund support to startup companies. These include DST (TePP, CAWACH, NIDHI-SSS), MEITY (TIDE-II, SAMRIDH, META), BIRAC (BIG, SPARSH), and M/o MSME. FITT has extended fund support as a loan/investment/grant as per approved norms. FITT will continue to partner with these and many more Government departments for fund support to future incubatee companies under the TBIU Program.
FITT reached out to / was approached by many corporate organizations with a proposal of the utilization of their CSR fund for supporting startup companies resident at the Institute incubators. These include Pfizer, Samsung, Sona Comstar, Boeing, EIL, etc. FITT will approach many more corporate organizations for applying their CSR fund to support incubatees of the Institute.
Incubator Management
The TBIU Board is an Institute level empowered and the apex body for taking final decisions in any and all matters of incubation of the Institute. The TBIU Board creates and administers incubation policies and guidelines for the operations of various incubators of the Institute.
In addition, sub-committees like TBIU Standing Screening Committee (TSSC), TBIU Review Committee (TRC), TBIU Monitoring Committee (TMC), TBIU Valuation Committee (TVC) etc. work for managing various activities of incubatee startups.
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