XCEED Incubation

XCEED incubates startups from any industry, at XLRI's Jamshedpur campus, its Delhi-NCR campus, or virtually if you cannot be on site. The term is twelve to twenty-four months and the governing council can shorten or extend it. There is no cohort calendar and no deadline: the application form is open all year.

What you get

• Office space on campus for the agreed period, with internet, computers, furniture, electricity, a meeting room with video conferencing, a pantry and access to the XLRI library
• Mentorship from XLRI faculty and alumni, plus the option to pick one industry mentor within six months of joining, who is paid in equity
• Connections to legal, accounting, audit, tax and HR service providers, paid for directly by the startup
• Support with patent filing and trademark registration, with XCEED stating it will not claim ownership of your intellectual property
• Introductions to angel investors and venture funds, and help building the pitch
• Help finding and applying to central and state government schemes
• Live Projects, where XLRI MBA students work on a business problem you submit
• The option to apply for seed money after three months, structured as a loan and subject to funds being available

Who can apply

• Anyone with a registered private limited company, LLP or partnership firm. No XLRI connection is required.
• Teams that have not incorporated yet may apply in the founders' names, but must register within three months of signing the incubation agreement, or six months for XLRI alumni
• The company must be under seven years old and within the stated turnover ceiling
• Proprietorships and public limited companies are not eligible
• The startup must not be formed by splitting up or reconstructing an existing business
• At least fifty-one per cent must be owned by Indian nationals, directly or indirectly
• Employed founders, including government staff, need a no-objection certificate from their employer
• Companies where a current XLRI student holds an executive position are not offered incubation, though companies promoted by students may apply

How selection works: the written application is screened against the published criteria, then reviewed by XCEED's selection committee with industry professionals. Shortlisted teams pitch to the committee, in person at the XCEED office or XLRI campus or by video, and take questions. A recommendation is followed by discussion of the incubation agreement terms, due diligence, admission and the equity allotment. XCEED states its decision is final and that it does not give reasons for a rejection.

How to apply: fill the application form on XCEED's incubation page and attach your business plan for the first twelve months, your certificate of incorporation, your memorandum and articles of association, and a note on the infrastructure and support you need. Questions go to xceed@xlri.ac.in.