UDIT (Udhmodya Incubation and Training)

UDIT is where incubation at Udhmodya Foundation actually happens. It is described as a hub for founders who want to ideate, collaborate and turn an idea into a sustainable venture, and it covers pre-incubation, on-campus incubation and a virtual route.

What you get

• Shared office space and labs on North Campus, dedicated desks and office equipment, private meeting rooms and high-speed internet
• Mentorship and coaching from experienced mentors, plus workshops and training
• Legal and financial services — accounting, legal advice and tax consultation — and shared IT, administrative and marketing support
• Introductions through the Foundation's partnerships with venture capital and angel investors
• Networking events, workshops and ideathons through the year
• Permission to use the Foundation's address for your company, and possible on-campus accommodation for a limited period subject to availability

Who can apply

• Category I: students enrolled in any University of Delhi course or programme
• Category II: faculty at the University's departments, centres and colleges, including former, emeritus and visiting professors
• Category III: non-teaching staff, current and former
• Category IV: anyone else — any individual or group of prospective entrepreneurs with no University connection, and all University of Delhi alumni
• You must be a registered unlisted business, or incorporate within three months of your application being approved
• The majority of founders, shareholders or core team must hold Indian citizenship

How selection works: Submit an application covering your business idea, team, market research and financial projections, often with a business plan or pitch deck. The Foundation screens and evaluates it against the policy criteria, then invites a shortlist for interviews, mentor meetings and a presentation to a selection committee. Incubation-stage applicants also go through due diligence, which can include reference and background checks. Selected startups receive an offer and sign a contract setting out the terms. In pre-incubation, continuing in the programme and any release of funds is subject to a quarterly performance review, and promotion to the incubation stage comes on the recommendation of a performance review committee.

The Foundation takes a minority equity stake, set by its Finance Review Committee against the support you use — brand, faculty time, space, infrastructure, mentorship, seed support, accounting, legal and patent help, and University intellectual property. Where equity applies there is a three-month cooling period during which you can use the services on a rental basis before committing. IP developed using the Foundation's facilities, funds or support is jointly owned and jointly licensed, with inventors having the primary say.

How to apply: Fill in the online application form linked from the UDIT page on the Foundation's site. Questions go to operations@uf.du.ac.in.