ASBM Business Incubator Centre

Choose the right form

• Individuals and teams, inside or outside the university: Form A.
• Registered firms, and subsidiary or ancillary units of established firms: Form B.

How to apply

• Download the form from the centre's page and fill in every section.
• Form A asks for a summary of the business plan, the capital needs, the competitor analysis and the market analysis.
• Send the hard copy by post to the Head, ASBM Business Incubator Centre, Shiksha Vihar, Bhola, Chandaka, Bhubaneswar, Odisha 754012.
• Send the soft copy by email to info@asbm.ac.in.

What reviewers look for

• A novel idea that is commercially viable.
• A business plan you can present in person to the selection committee.
• Clear requirements: Form A asks which mentoring, equipment or workshop support you need from the centre.
• A realistic plan to reach working prototypes, models or services.

Check the timing first

• The page gives no intake date and no closing date. Write to info@asbm.ac.in to confirm that applications are open before you post your form.

ASBM Business Incubator Centre is a business incubator run from the ASBM University campus in Bhubaneswar, Odisha. The centre's page says the Ministry of Micro, Small and Medium Enterprises set it up to promote and foster entrepreneurship, and that the centre's goal is to help students and new companies start and grow a business.

Who can apply

Enterprising individuals and teams can apply, whether they are inside or outside the university. Registered firms, and subsidiary or ancillary units of established firms, can also apply. Each applicant needs a novel and commercially viable idea. The forms ask applicants to certify that their turnover is within the ceiling stated on the form.

What the centre offers

Selected entities can take furnished, semi-furnished or unfurnished space, with internet, electricity and water. Mentoring support and business training cover management, business basics, intellectual property management, business etiquette and marketing research. The page also lists help with getting a bank loan. Laboratory, workshop, hostel and library facilities of the university are listed too, and are available on payment under institute rules.

Funding

The centre runs a seed or ignition fund, released in phases, for a maximum of 10 selected registered startups. Other selected entities are accommodated as self-financed units. The page does not say how many entities of each kind it takes in a year.

How selection works

Each applicant makes a business plan presentation before a selection committee. Selected startups sign an agreement with the centre. The centre expects working prototypes, models or services, and patents and copyrights from its entities, and wants new entities to become registered firms.

Duration

The incubation period is one year. It can be extended on approval, without funding. The page gives no intake date and no closing date.

Partners

The page says the centre has tied up with the National Science & Technology Entrepreneurship Development Board, under the Department of Science & Technology, to build a startup ecosystem in Odisha. The Central Tool Room & Training Centre, under the Ministry of MSME, is listed as its training partner.