Incubation

Incubation is the route for a startup that is past the idea stage. You need a working product and a business model you have tested, and you need to be a registered entity. The centre's policy allows direct entry with the right documents, so you do not have to come through pre-incubation.

What you get

• A mentor matched to your sector and business model, and workshops on pitching, marketing and intellectual property
• Office and co-working space, meeting and conference rooms, and access to campus labs and prototyping facilities
• Seed funding from the centre's own seed fund where you qualify, released in tranches against agreed milestones
• Introductions to angel investors, venture capital firms and corporate partners through pitching events and funding forums
• Help applying for government schemes and grants
• Support with filing patents, trademarks and copyrights, and introductions to intellectual property firms

Who can apply

• Technology startups with a working product and a validated business model
• Registered as a private or public limited company, or conditionally an LLP or joint proprietary firm, or registered with MSME, DPIIT or JKTPO
• Incorporated within the last two years, with at least 51 per cent of shareholding held by Indian promoters
• DPIIT recognition is expected within thirty days of the pre-incubation phase, with extensions available on request
• No campus, state or geography restriction is set. Founders from outside Jammu & Kashmir appear among the companies that have graduated.
• Employees promoting a company need a no-objection certificate from their employer

How selection works: You submit an executive summary and business plan. A three-person screening committee assesses innovation, market potential and how central the technology is. If you clear it you present to the committee, and startups seeking seed funding are then evaluated by the centre's managing committee before the chairperson approves, usually one to three weeks after the presentation. The published scorecard weights the need for the idea most heavily, then feasibility, impact and novelty equally, then the team, the plan for using funds and the presentation.

What it takes: Once incorporated you must offer the centre a minimum one per cent equity stake in return for mentorship and services, and it may take more depending on your stage. Mentors may separately ask for equity or a fee. The centre may charge for office space, utilities and specialised services, but publishes no schedule, so ask. Intellectual property you develop stays yours unless you sign it over.

How to apply: Submit the online application on the centre's website; email and physical applications are also accepted. Enquiries go to smvdu.tbic@smvdu.ac.in.