Incubation Facilities and funding
The following facilities are available for an incubatee:
- An office space (please note this cannot be the registered office on your company)
- Hi Speed Internet facility
- Uninterrupted Power supply
In addition to these primary services, there are advantages of getting to work in an academic environment. For example, academic mentors can closely engage with start – ups and share knowledge.This allows the startup team to focus on the product/service it is working on and get it to the market quickly.The availability of business networks helps refine business models of companies.
NSRCEL also provides seed money support to some of the incubatee companies. The funding is primarily through government grants and its disbursement is in accordance with the guidelines that have been laid down by the primary funding agency. It is expected that the incubatees will be able to refine and sharpen the focus of their business plans during this period.
NSRCEL suggests that an incubatee spend around three months as part of the incubation program and then apply for this funding. This time frame enables start – ups to streamline their business plans with the help of their mentors.
The incubatees would need to inform the NSRCEL office prior to indicating their interest to present to the Screening Committee. This would enable the NSRCEL office plan the schedule for the Screening Committee Meeting accordingly. The funding request is again presented to the Screening Committee which takes a call on the approval of the funding to the startup.
A number of NSRCEL incubatees have acknowledged that being located at NSRCEL helped them attract talent from the best technology schools.