Entrepreneurs and Start-ups interested in applying for incubation at AIC-ADT Baramati foundation Incubation Centre will be considered under following criteria:
1.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.
2.The applicant should be a registered legal entity in India 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
3.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-ADT BARAMATI FOUNDATION Incubation Centre.
4.Further to the criteria mentioned in Section 2, 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.
Entrepreneur Selection Process.
Currently the steps to on-board are:
1. Submit an Online application along with a presentation (template is available online) expressing interest to apply for Incubation.
2. Upon receiving the application and presentation, a quick internal review is done and the feedback is passed on to the applicant for improvisation, if any.
3. Once the draft presentation is ready, a meeting is arranged for with the Management of AIC-ADT BARAMATI FOUNDATION.
4. Upon evaluation and if accepted, the incubation application is then recommended to be presented before an Incubation Committee (comprising of external members as well)
5. Upon Committee’s approval, the said terms are communicated to the applicant. After mutual concurrence, it is preceded towards Incubation Agreement sign off.
AIC-ADT BARAMATI FOUNDATION has sole discretion on acceptance or rejection of proposals for incubation and the decision of AIC-ADT BARAMATI FOUNDATION in this regard to be deemed final.
2. Proof of Concept
3. MVP Idea Validation
4. Revenue Generation Iteration Business Model Consolidation
5. Revenue Consolidation, Growth strategy
6. Funding and Marketing Expansion
7. Scaling Up & launch