An Applicant for admission to the Technology Business Incubator of JUiNCUBATOR may be an individual or registered company.
Applicants should have a Technology based product/idea which could be of any or in combination of the following categories.
Preference will be for intellectual property based companies.
In case of faculty member JU, he/she must obtain permission from the offices of Dean (Academics) and Registrar to be part of the venture.
Pursuing student- will have to obtain permission from his or her faculty guide and/or head of department for starting a venture and pre- incubation in JUiNCUBATOR. A letter from guardian may also be needed. This is to avoid any academic or social conflict vis-a-vis incubatee companies as also with JUiNCUBATOR.
If a potential venture is based on technology, Intellectual Property (IP) or know-how belonging to or developed in JU (JU IP) or belong to or developed by full time employees of JU (Private IP), the inventor (student or faculty member) has to obtain the permission from the office of Dean – Academics for technology transfer or technology licensing in favor of the venture.
Similarly, a faculty who is an inventor of a technology which is a private IP will also initiate a letter to Dean -Academics, JU and JUiNCUBATOR indicating his/ her intention to promote/ support a start-up company with the said technology. In the said letter, the inventor will also inform that it is his/ her private IP which he/ she agrees to transfer it to the proposed start-up company.
If IP is of any other institute or organization, NOC from concerned institute/organization will have to be obtained.
In the event there are other members involved in the development of the IP and if they are not going to be part of the startup /venture NOC from each of them will have to be obtained from each of such members.
What kind of support do I get?
Infrastructure- Physical infrastructure with fully furnished office, conference room, meeting room, internet etc.at a very nominal cost.
Ecosystem- Benefit from the ecosystem at JUiNCUBATOR and in JU, Access to JU labs, Proximity of technical and management expertise at JU, Library resources and access to the talent pool of JU like students.
Funding- Access to Investors and Government schemes.
Advisory- Business plan assistance, Mentoring support, Access to professionals with legal, financial, accounting, IP, and industry expertise, Training programs and seminars relevant to entrepreneurs.
Visibility- Showcasing events for exhibition of products and solutions, networking events to facilitate interaction with investors and industries.
What is the process of qualifying for incubation?
Apply: The entrepreneur shares the details of their idea and startup through an online application (link provided on www.juincubator.com)
Screening: The applications are then screened for technology & business validation
Business plan deck: This covers wider aspects such as pilot trial results, customer validation if any, go to market plan, cash flow statements, funding requirement etc.
Two Level Review Process
Internal – Detailed discussions on business ideas with JUiNCUBATOR representatives.
External – After successful internal review process, the applicants are invited to make presentation to the Screening Committee comprising of experts who review the plan and provide their feedback and recommendations. The experts are usually from the domain with user perspective and/or an investor.
Incubation - This can be either Physical or Virtual based on the needs of the entrepreneur and availability of space. Mentoring will be provided.
Pre-Incubation - For early stage ideas with good potential, a mile stone based mentoring support for up to 3 months. After successful demonstration and review if required, can be converted into incubation.
What does the Incubator expect from the incubatee?
Incubatee Company will enter into necessary agreements on the approval of the admission in the Technology Business Incubator.
If the applicant is not a registered company, the applicant will have to register a company within a period of three months from the date of approval for admission in the Technology Business Incubator.
Incubatee companies will be subject to continual reporting as per the Technology Business Incubator (JUiNCUBATOR) policy and are governed by the policy guidelines (including any changes that are incorporated from time to time) during the tenure at the TBI.
The company will be subject to periodic progress review to determine the progress and assess the growth projections and achievements of milestones
JUiNCUBATOR has a revenue model comprising of
Revenue share for period of incubation.
Rent for fully equipped office.
What will be the duration of incubation provided?
The goal of JUiNCUBATOR is to support companies in a way that will enable the business to graduate from the incubator in one to two years.