Incubation

Incubation

The incubation program is curated for women entrepreneurs or students and faculty who have been part of the AIC-GNITS pre-incubation program. The outline of the Incubation Program will be as follows:

Eligibility Criteria

  • Existing women entrepreneurs with prototype or proof of concept
  • The applicants have a venture that demonstrates to have a technology component.
  • Business Plan

Application Process

  • Submission of a sound business plan
  • Evaluation by an internal committee of AIC-GNITS
  • Presentation by the Applicant
  • Evaluation by an expert core committee of AIC-GNITS
  • Selection of ventures that are sound, feasible, and scalable.

Evaluation Criteria for Application

The selection of entrepreneurs for support in AIC-GNITS will be based on the recommendation of an expert committee specifically set up for the purpose. The criteria for acceptance of the students or entrepreneurs are the following:

  • The business activity proposed is in the advanced technology area.
  • The company must meet the definition of a “technology-based company” (An organization which pursues commercial applications of science/technology-based innovations; employs a high percentage of technicians, engineers or scientists; or requires extensive R&D to produce new products or services). The venture proposed is a corporation, partnership or sole proprietorship.
  • Demonstrate a need for incubator services.
  • Demonstrate capability for business viability and growth.
  • The business plan submitted by the entrepreneur is sound.
  • In the absence of a proper business plan, the request for membership will be accepted
    provisionally if the business proposal looks promising prima-facie to the expert committee.
  • The entrepreneur will submit a proper business plan to AIC-GNITS, which will be reviewed by the expert committee before final acceptance.
  • The business proposed should have significant technology content / employment
    potential / revenue generation potential / export earning potential.

Selection Process

  • Merit of the business proposal
  • Background and experience of the entrepreneur
  • Financial viability
  • Status of the business plan, market research and feasibility studies
  • Growth potential
  • Applicant’s commitment-both financial and personal time-to the venture
  • Business references
  • Make up of the management team

Duration of the Program 6 to 12 Months

ONBOARDING TO THE PROGRAM

  • License agreement is executed between AIC-GNITS and the student/entrepreneur.
  • Jointly set short-term objectives for the venture’s performance.
  • Develop a written plan of work for the venture.
  • Set up the venture’s financial management and budgeting systems.
  • Identify mentors, consultants, service providers or resource center’s to assist the entrepreneur in achieving her goals.

Program Structure

The incubation program will be focussing on advanced business planning and commercialization. The program is for 6 months covering Product Market Fit, Access to Finance and Coaching and Mentoring.
DURATION OF THE PROGRAM 6 to 12 months

ONBOARDING TO THE PROGRAM

  • License agreement is executed between AIC-GNITS and the student/entrepreneur.
  • Jointly set short-term objectives for the venture’s performance.
  • Develop a written plan of work for the venture.
  • Set up the venture’s financial management and budgeting systems.
  • Identify mentors, consultants, service providers or resource center’s to assist the entrepreneur in achieving her goals.

Program Structure

The incubation program will be focussing on advanced business planning and commercialization. The program is for 24 months covering Product Market Fit, Access to Finance and Coaching and Mentoring. MONITORING AND EVALUATION
AIC-GNITS will review the formal performance of each individual / company. The expert committee gauges the progress of the company against its objectives. The expert committee also evaluates the quality and impact of the business assistance provided by AIC-GNITS. Any further assistance in the form of mentors, consultants, service providers, or resource centres required by the entrepreneur is identified during this review.

Graduation

  • The revenue stream of the company is adequate for self-sustenance.
  • The entrepreneurs have been able to tie up investors to finance the expansion plans
    of the venture and the incubator support is no longer necessary.
  • The entrepreneurs have sold the venture to a larger company.
  • Expiry of the period specified in the license agreement.
    In case, the startup is not able to achieve the above, the startup shall repeat the program.

Start Your Innovation Journey Today

Whether you’re a founder, mentor, or changemaker — AIC-GNITS is the place to grow bold ideas. Join our incubation programs, access expert support, and be part of a thriving startup ecosystem. 

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