Karpaga Vinayaga College of Engineering and technology

Choose the right route

• Students and faculty with an idea should apply to the Incubation Centre, which also takes ideas through its idea events.
• Students who want to run a business alongside their course should check with their department head first.
• For public funding for a prototype, ask the centre about the MSME Innovative Scheme.

Prepare the application

• Write an executive summary or business plan. The centre first reviews it for technical and business feasibility.
• Gather a PAN or Aadhaar card, proof of permanent address, two references and a passport-size photograph.
• Sign the incubation agreement, which sets out the rules incubatees must follow.

What reviewers look for

• The strength of the product idea: technology content, innovation, timing, market potential and scope.
• The profile of the core team and the potential for intellectual property.
• Financial viability, time to market and break-even, with profit and loss projections.

Before you sign

• Plan for audited accounts and quarterly compliance reports for the whole incubation period.
• Read the revenue-share and equity terms in the agreement before signing.

Karpaga Vinayaga College of Engineering and Technology (KVCET) is an engineering college in Tamil Nadu, run by the Karpaga Vinayaga Educational Lore for Learning. Its Incubation Centre takes technology and social ideas from students, faculty, alumni and members of the public, and helps turn them into ventures. The college was established in 2001, is approved by AICTE and is affiliated to Anna University.

What the incubator supports

The Incubation Centre accepts ideas from a wide range of fields. Its policy lists biotechnology, bio-medical instrumentation, health, agriculture, construction technology, renewable energy, electric mobility, emission control, solar systems, water and waste management, telecommunication, cyber security, artificial intelligence, drone technology and additive manufacturing, among others.

Ideas are judged on five points: innovativeness, commercial viability, technical feasibility, social sensibility and scalability. Social ventures are in scope too, and the centre supports founders who want to turn a social idea into a social startup.

Who can apply

Any individual or group can apply: students, general public, faculty or a mix. The policy also covers alumni, pre-incubatees and existing firms that want to incubate a spin-off idea. Founders can reach the centre by applying directly, or through the ideathons, boot camps and idea fests the centre runs, alone or with event partners.

What the centre gives you

On admission, incubatees get office space, internet, a telephone connection and standard furniture. Up to two computers can be rented from the centre; more can be rented at market rates. Shared facilities include a photocopier, scanner, projector, printer, library access, a meeting room with projection equipment, and video conferencing. Where it is needed, the centre can also arrange use of departmental laboratories, subject to the department's own policy.

Support comes in three layers. Every incubatee must take a faculty advisor from the college on technology and business matters. Incubatees can also bring in specialist mentors from industry, research institutes or government bodies. Part-time professionals from the centre's panel can help with accounting, intellectual property, legal work and management.

Seed funding

The centre may give a seed loan, subject to available funds or schemes. Admission does not guarantee one. Incubatees can apply after six months from admission, and the centre decides each case on merit and can refuse without giving reasons. The loan is meant for equipment, materials, machining, fabrication, registration, validation and testing.

Terms of incubation

An incubatee can stay for up to two years. Two extensions of 6 months each can be granted at the centre's discretion, and biotech and pharma companies can ask for more time to reach market. Companies must have audited accounts, file a quarterly compliance report and keep their books open to the centre's chartered accountants.

The centre charges a refundable deposit and an annual registration fee. Working space is free in the first year and charged monthly after that until the company graduates. The centre also takes a share of the company's profit, set in its policy, and takes an equity stake where an equity agreement is signed. Students may run a start-up part-time while studying, and with department approval a start-up can take the place of a project.

Other programmes on campus

The college's Entrepreneurship Development Cell was started in 2011 with AICTE support. It runs awareness and development programmes for students and mentors aspirants who want to turn an idea into a business. The Institution's Innovation Council, set up under the Ministry of Education, offers competitions and mentoring, but is open only to students and faculty of the college.

The college is also registered with the Ministry of Micro, Small and Medium Enterprises as a Host Institution. Through the Ministry's innovation scheme, the government part-funds the cost of an innovator's project, routed through the college's MSME Incubation Cell.

Location and contact

The campus is on G.S.T Road at Chinna Kolambakkam, Madhuranthagam, Chengalpattu district, Tamil Nadu. Enquiries go to admission.kvcet@kveg.in.