Expression of Interest (EoI) For Startups/Incubation (Physical & Virtual
At

Incubation Center,

NEHU, Tura campus

Expression of Interest (EoI) is invited from the budding entrepreneurs to apply to Incubation Center-NEHU, Tura campus at Meghalaya for incubation (physical and virtual). We aim to focus on incubation support to innovative startups. We are open to exploring ideas in all fields of science & technology and will be happy to evaluate your business plan.

You can send e-APPLICATION to nehuturaincubation@gmail.com in the prescribed form at attached with this advertisement (mention “Application for Registration of Startups at Incubation Center-NEHU” in the subject line)

You can also attach your pitch deck along with application and it should crisply cover the following aspects:

Problem you are solving.
Your value proposition –how do you solve customer's problem?
What is the innovation that you are bringing to the society?
What enables you–the technology or business model innovation that differentiates you?
Your revenue model –how will you make money, pricing, etc.?
Sales and Marketing Strategy –how do you plan to spread the word around about your solution, how would you sell it?
Management Team –Who are the main team members and advisors?
Financial projections –What are your cash flow projections–expenses and revenues?
How much money do you need to raise as investment? When would you start breaking even operationally?

Technology that one is willing to adapt,
The availability of a prototype for the project (either self or other sources)
Assessment of the technology,
Market potential of the product,
Qualification and track record of the entrepreneurs,
Analysis of business prospects of the products, services,
Business plan along with the milestone of the company,
Financial strength of the company,
The project should be based on innovation and in the field of technology.
The project should be feasible.
The entrepreneur should have prepared a financial plan and has good knowledge of the market and the competition.
Team members should have harmony and administrative experience.
The entrepreneur should clearly state and demonstrate the reasons for the success of his/her project.

(Note: A committee constituted by Incubation Center-NEHU will evaluate all the received proposals and select suitable applications based on the above mentioned parameters)

Entry Guidelines

The proposed idea for incubation must be technology based and innovative; if a similar product/technology already exists in the market, a value addition must be proposed.

Before signing the agreement with this incubation unit, companies/persons registering will have to submit following documents:

Soft copy of the passport size photo of all promoters
PAN Card
ID Proof of Promoters (PAN CARD/DL/Passport)
Two References (Clients/Academics/Any Other)
Company Incorporation Certificate (to be submitted within 1 month of registering at this incubation unit)
Executive summary of idea
Permanent address proof

All incubates would be required to deposit 2 months rental as security deposit before joining to this incubation unit (refundable upon exit).

Maximum available space will be given for incubated companies (Incubation Center-NEHU may consider providing extra space on case to case basis)

Exit Guidelines

The registered company would be allowed to exit from Incubator based on one or the following:

>At this incubation unit, by default, incubates will be allowed for an incubation period up to two years. This can be extended for additional six months on approval from advisory committee.

>After the incubation period of two and half years, if the incubate wishes, he/she can continue at this incubation unit maximum for six more months by paying nonsubsidized running costs –this being subject to approval from advisory committee. After this period (a total of 3 years), the incubate will be obliged to exit the incubation unit.

>Underperformance by the incubated company with respect to the pre-determined milestones will be decided by incubation unit management and advisory committee based on periodic review. This may lead to exit from the incubation unit at any time during the incubation period.

>Failure to perform: If any incubate does not commence activities within assigned time (3 months after selection), he/she may be asked to exit from the incubation unit.

>Incubates engaged in the activities different from the theme of the incubation unit will be asked to exit from the incubation unit.

>If incubates are found indulge in any illegal activities, a strict action according to the law and order will be taken against them and they will be asked to exit from the incubation unit with immediate effect.

Services Offered at Incubation Center-NEHU

In case of Physical Incubation, NEHU will provide total area of about 100 sq.ft. at approved rent having the following facilities:

Services Offered:

Basic Infrastructure services, as part of agreement

Access to NEHU technology Data Bank/ technologies available for startups for commercialization
Furnished incubation space (with working table and 3 chairs) @ Rs. 30 sq. ft. (Any other service charges decided by the advisory committee/Incubation center management time to time shall be applicable)
Meeting Room
Linkage with academic/ research institutes, common facility testing centres
Handholding, Mentoring & Networking
Access to testing/QC facilities available with network partners
Connecting with Startup India and other Government programs
Facilitating linkages with funding firms
Common Utilities

–Electricity for office use

–Air conditioned hall space (for each cabinet)

-Water

–Security

-Office cleaning

–High Speed Internet Facility/ Wi-Fi Network access

(Service charges shall be applicable for common utilities)

10.Access to different government schemes including NRDC schemes, like

Patent Filing Assistance* (subject to meeting eligibility criteria)

11. Access to patent and technology information databases

12. Dedicated Mentor for the incubation centre

13. Basic Testing Facility for food products consisting of

a.Proximate analyzer,

b.Spectrum Analyser,

c.PCR analyzer

d.Texture Analyzer

e.Baking equipment

f.Hydro-distillation unit

g.Pulverizer

14.Basic workshop facility

15.Special 25 % discount will be offered to the incubates for the workshops and trainings organized by Incubation Center-NEHU

Professional Services (on chargeable basis)*

Technical Support like idea validation, technology assessment,
Knowledge base and consultancy
Instruments on a cost basis available in the Incubation Center-NEHU lab
Business Facilitation
Market Survey Reports
Patent Prior Art Search Reports/ FTO Analysis/ Patent Landscaping
Techno-legal assistance for incorporation of a company/ startup/ LLP/ OPC
Seminar Hall
Video conferencing facility

* T&C applicable/ on chargeable basis

Note:

1. In case of Virtual Incubation all the services will be offered except free physical space and facilities at the Incubation Unit. Charges for such virtual incubates will be Rs. 15,000/- per year per incubate and may be revised by the advisory committee/Incubation center management time to time.

2. All amounts mentioned in this EoI are provisional.