National Institute of Technology Durgapur

Before you apply

• Check that your company is incorporated under the Companies Act or holds Udyog Aadhar Registration.
• Prepare the business plan, certificate of incorporation, and Memorandum and Articles of Association.
• If you are faculty, staff or a student, check the rule for your category first. Staff need a no-objection certificate.

What reviewers look at

• How strong the product idea is in technology, innovation and timing
• The core team and promoters
• Intellectual property the idea has or could create
• Financial viability, five-year projections and funding needs
• Market potential and scalability

The incubation cell of the National Institute of Technology, Durgapur, known as IIIC or the Innovation Council, supports early-stage companies from the institute and beyond. The institute was established by an Act of Parliament in 1960 and is administered by a Board of Governors.

How the incubator works

A company applies with a business plan and goes through two review stages. An internal committee first checks the idea for technical and business feasibility. Admitted companies are reviewed every three months against the milestones in their plan. A company normally stays for two years, unless an extension is granted.

Who can apply

A company must be incorporated as a private or public limited company under the Indian Companies Act, or hold Udyog Aadhar Registration. Companies promoted by faculty follow the institute's faculty entrepreneurship policy. Companies promoted by students are eligible unless the student holds an executive position in them. Companies promoted by regular staff need a no-objection certificate from their employer. Companies that run educational courses or training are not eligible.

Facilities and services

Incubated companies share a common pool of infrastructure, including library access, computing, photocopying and conferencing. They may also use institute laboratories under the institute's norms. Office space is provided on a rental basis, and each company pays its rent and bills. Business services such as accounting, intellectual property and legal help are available on a paid basis.

Seed funding

The cell offers an IIIC seed loan. Disbursement and repayment follow a seed fund agreement, and each further instalment depends on progress shown in the previous review.

Other activities for students

The student-run Entrepreneurship Development Cell runs Pitchfest, the flagship pitch event of its E-Summit, and the on-campus round of the Hult Prize. The Innovation Council also runs an Ideathon, where students pitch solutions to industry mentors and judges.

Current status

The council's website lists the incubation application forms. Intake dates, equity terms and fee levels are not stated on the pages reviewed.