- Applicants may Visit SINE to discuss their business ideas. if the business plan is ready, they may also submit the same with SINE.The Business Plan could be in form of document of maximum 20 pages or a detailed presentation. This can be submitted in SINE or online by Clicking here. SINE may invite applicants to make presentation for internal review purpose.Thereafter, the business proposal for incubation is subject to review by external experts.
- If team members consist of a faculty member from IIT Bombay, he or she needs to obtain permission from the offices of Dean (R&D) and Dean (Faculty affairs) to be part of the venture.
- If a potential venture is based on technology, Intellectual Property (IP) or know-how belonging to or developed in IITB (IITB IP) or belong to or developed by full time employees of IITB (Private IP), the inventor (student or faculty member) has to obtain the permission from the office of Dean – R&D for technology transfer or technology licensing in favour of the venture. While seeking the permission, the inventor will waive his/ her share of IP consideration equivalent to 70% (as per prevailing Consultancy and Practice Rules & Norms (2003) of IIT Bombay as modified from time to time) to be received from IIT Bombay.
Similarly, a faculty who is an inventor of a technology which is a private IP will also initiate a letter to Dean -R&D, IIT Bombay and SINE indicating his/ her intention to promote/ support a start-up company with the said technology. In the said letter, the inventor will also inform that it is his/ her private IP which he/ she agrees to transfer it to the proposed start up company.
- On approval for admission in the Business Incubator SINE, IIT Bombay will transfer/ license IITB IP in favour of the incubatee company promoted/ supported by the inventor. In case of a Private IP, IIT Bombay will give its ‘no objection’ for the said IP for incubation in SINE.
- If the team includes a pursuing student, he or she will obtain permission from his or her faculty guide and/or head of department for starting a venture and business incubation in SINE. A letter from guardian may also be needed. This is to avoid any academic or social conflict vis-a-vis incubatee companies as also with SINE.
- If the applicant is not a registered company, the applicant will have to register a company within a period of three months from the date of approval for admission in the Business Incubator.
- Incubatee company will enter into necessary agreements on the approval of the admission in the Business Incubator.
- Incubatee companies will be subject to continual reporting as per the Business incubator policy.