SINE maintains and grows a support system for knowledge-based start-ups founded by IIT Bombay community. Admission in the incubator is subject to business plan review process. Maximum incubation support is for three years. On completion of three years, incubatees have to exit the incubator.
The following points describe our incubation programme.
1. Who can apply for incubation programme?
A team which consists of at least one member from IIT Bombay community who could be
- IITB students
- Permanent Staff
- Research Partner Institute
A start-up where none of the founders are from IIT Bombay, but start-up has technology linkage with IIT Bombay.
2. What is the process for admission in SINE?
Applicants have to submit business plan to SINE. Admission to the business incubator is based on evaluation of business plan carried out by external reviewers with relevant expertise.
3. How long can a start-up stay in the incubator?
An incubatee company can stay in the incubator for a maximum of three years.
Pre-incubatees can remain so till they achieve certain business milestones.
4. Do the incubatees have to be incorporated companies?
Yes. A team may approach for incubation without being a registered company but once incubated, all incubatees have to be registered as a private limited company within 3 months of incubation.
5. When will an incubatee company exit the incubator?
Incubatees have to exit SINE on completion of three years’ term or if the companies do not perform during the incubation period.
6. What are the facilites and support we get from incubator?
Incubatees get physical infrastructure and business support. During pre-incubation, potential entrepreneurs also get office space, assistance in preparation of business plan, and business advisory support. Virtual incubatees get advantage of business support from SINE.
7. What do we have to pay for incubation support?
Companies have to pay consideration for incubation which is combination of subsidised rent, small equity and revenue share.
8. Where do I find more details about incubation programme?
For more details, please refer to SINE BI_Policy and Procedures