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Criteria

A start-up applying to the Incubation Program at VJTI-TBI will be selected based on following criteria:
  1. A start-up must be working on an innovative idea/technology/product/service in one the thematic areas including Clean-tech, Energy, IoT, Cloud Computing and Cyber Security of Smart & Critical Infrastructure.
  2. A start-up that is preferably at an early stage (registered as a Private Limited Company or Registered Partnership or Limited Liability Partnership and is not older than 7 yrs since date of incorporation).
  3. A start-up whose turnover for any of the financial years has not exceeded INR 25 crore.
  4. A start-up that is willing to pursue the Incubation Program full time with no other concurrent commitments during incubation period.
  5. A start-up that will preferably have a market ready prototype or Proof-of-Concept (PoC), or willing to commit to convert their idea into prototype during the tenure of the Incubation Program.
  6. A start-up that will preferably have a clear IP strategy and a technology commercialization plan that will create jobs.
  7. A start-up that has a strong business proposal, can confidently pitch to investors and raise funds, can be scaled up and become self-sustainable in 18 – 24 months’ time.
  8. A start-up that offers technology enabled solutions with a social and strategic impact.
  9. A start-up that has a potential for large resource generation and can create an impact value and visibility for VJTI-TBI.
  10. A start-up that is incorporated under either of the legal entities listed in point 1 under Eligibility, will have to meet the following additional criteria:

    a. At least 51% of the start-up company should be owned by Indian nationals (directly or indirectly).

    b. The start-up company should have no significant revenue at the time of application.

    c. The start-up company has to ensure they have all required IP rights (if applicable), including any technology license or patent assignment, to take the technology ahead. The start-up company may also be required to ensure that they will have Freedom to Operate.

  11. A start-up applying to the Incubation Program at VJTI-TBI Incubatee will not be considered for incubation if the proposed idea/ innovation/ technology or business plan falls under following conditions:

    a. Start-ups proposing products, services or processes which lack novelty with no or limited incremental value.

    b. Start-ups should not have been formed by splitting up or reconstruction of a business already in existence.

    c. Start-ups working as a Proprietorship Company or Public Limited Company is not eligible.

    d. Start-ups with proposals that do not have potential for commercialization, or

    e. Start-ups proposing products, services or processes with no differentiation factor,

    Start-ups with proposals those are not scalable and sustainable.