Services

1. Infrastructure
   Incubatees will be provided office space including reception services, shared meeting room, internet access, product display, exhibition hall and secure environment.
2. Technical Managerial Assistance
   This service will allow incubatees to access university faculty resources and gear-up their engineering and managerial capability. A total of 40 hours per month of consultancy may be provided by the incubator against which the incubator will pay Rs.800 per hour to Lecturer/Assistant Prof., Rs.1000 per hour to Associate Prof. Rs.1200 per hour to Professor. Any additional consultancy required by the incubatee will be charged.
3. Access to Labs
   Incubatees will also have access to labs of the university. A nominal fee can be charged for that service by the university.
4. Access to Funding Sources
   The selected company may apply and get funds for developing prototype and commercialization of their respective product, in order to get them ready for venture capital funding. The disbursement of this fund to the incubatee will be at the discretion and evaluation of the Supervisory Committee.
5. Keeping the Incubatee Focused
   

   A business like discipline, team work and attention to details of every aspect of the project is necessary for the start-up to be a success.

   The Incubatee must prepare and present a detailed project plan describing each milestone and corresponding activities along with resources required to achieve each milestone.

   The project plan must be carefully designed, implemented and adhered to strictly in order to correct any deviation. The Business Incubator management would ensure that the plan is followed properly.

Selection Process for the Incubatees

BIC Tenant's Selection Criteria

1. Entrepreneurs having a well-developed business plan and pre-feasibility will be preferred in the selection process
2. Preference will be given to entrepreneurs having a Bank Account and an NTN
3. Current status of the business to assess the need for services of BIC and their sustainability for future business success or growth. Applicants business scope, function and activities falling within preview of BIC
4. Applicants with secure source of funding would be given preference
5. The line of business falls within the specific products of BIC
6. Applicant demonstrates scalable business potential and enjoys significant market size
7. Applicant presents strong growth potential and is well versed with marketing, finance or management
8. Applicant has relevant professional experience and education, can demonstrate technical expertise and has potential for IPR
9. Applicant is committed not to misuse the BIC office facility for retail/wholesale outlet

General Criteria for selecting Incubatees The following criteria will be taken into consideration for selecting incubatee companies;

1. The proposed investment would fall in BIC's identified inventions/products
2. The candidate has good repute and reasonable experience in the relevant sector
3. The candidate is not defaulter of any financial institution or any government duties or taxes
4. The candidate has not been convicted in any civil or criminal case