Deadline: 31-Jan-22
Applications are now open for the Atal Incubation centre (AIC) – NMIMS Incubation Program.
AIC-NMIMS Incubation Centre is the trademark and brand name of the Atal Incubation Centre established at NMIMS (Deemed-to-be-University). It is one among the several Atal Incubation Centres that is being established in the country and funded by Atal Innovation Mission set up be NITI Aayog. AIC-NMIMS Incubation Centre is registered as a not-for-profit Section 8 Company (erstwhile Section 25 Company under the Companies Act, 1956) and will be guided by well-qualified and competent Board of Directors.
AIC-NMIMS is located at the Mumbai campus of state-of-the-art NMIMS School of Business and will have access to Institutes’ wifi-enabled infrastructure like classrooms with LCD projectors, technical labs, seminar halls, conference rooms, board rooms, computer labs, library, cafeteria, vehicle parking and other facilities.
Eligibility Criteria
- Entrepreneurs and Start-ups interested in applying for incubation at AIC-NMIMS Incubation Centre will be considered under following criteria:
- Entrepreneurs/Start-ups may be an individual or group of individuals working towards development of innovative products/ processes/ services and must have a scalable business model with a high potential of employment generation or wealth creation.
- Entrepreneurs/Start-ups may be registered under either form of business entity as follows:
- Private Limited Company (under The Companies Act, 2013); or
- Sole proprietorship Company; or
- One Person Company; or
- A Registered Partnership Firm (under The Indian Partnership Act, 1932); or
- A Limited Liability Partnership (under The Limited Liability Partnership Act, 2008); or
- A “Commercial Establishment” in any other form allowed by Government of India laws or as notified in the Official Gazette.
- Entrepreneurs/Start-ups with no legal registration may be considered for incubation provided the application is submitted in the names of all promoters/founders. Also the promoters/founders must ensure that the Start-up is registered under either form of business entity listed in point 2, within a period of One Year from the start date of incubation at AIC-NMIMS Incubation Centre.
- Further to the criteria, the registered Start-up:
- Must not be older than 7 years from the date of registration/ company incorporation (Biotechnology-related Start-ups must not be older than 10 years from the date of registration/ company incorporation).
- Its annual turnover (as defined in the Companies Act, 2013) in any preceding financial year must not exceed INR. 25 crore.
- Must not be formed by splitting up, or reconstruction, of a business already in existence.
- Must be working towards development of innovative products/ processes/services and must have a scalable business model with a high potential of employment generation or wealth creation.
Selection Process
Entrepreneur/Start-up can submit an application through the online portal. The selection process will be performed in 3 stages as described:
- Online submission and Screening
- Boot Camp and Business Pitch Presentation
- Selection and Incubation Offer
For more information, visit https://www.startupindia.gov.in/content/sih/en/ams-application/incubator-program.html?applicationId=61b30883e4b0b13f63e663af
