Terms & Conditions

1. Applicants must complete and submit the application in its entirety with all required enclosures, to be considered for acceptance as an incubatee in the incubation centre. Incomplete and unsubstantiated applications will not be reviewed and will not be evaluated.


Shortlisted applicants will be interviewed by the selection committee and given an opportunity to discuss their business further. Acceptance and participation are afforded at the sole and absolute discretion of the Selection Committee


The applicant should be able to meet the following basic criteria to gain acceptance into the program:

a. The applicant should be ready to setup or already having a small start-up /business.

b. The applicant should be able to articulate the business model and conduct the entrepreneurial opportunity.


All information sent by the applicant is subject to verification available on public domain and the incubatee agrees to furnish the facts as demanded from time to time for any significant variations noticed and communicated by the incubation centre or the NMIU.


By agreeing to the Terms and Conditions, you hereby warrant and represent the following:

  • You are the exclusive owner and sole author of the Idea, such that the Idea is your original creative work and your submission thereof will not infringe, misappropriate or violate the intellectual property, privacy or other rights of any third party; and/or you have obtained prior written authorization to act on behalf of any co-creators of the Idea;
  • Neither your execution of this agreement nor your participation of in the Promotion, including your submission of the Idea, will conflict with or violate any term or condition of any other agreement to which you are a party, including but not limited to any union or guild regulation;
  • There are no threatened, pending or current claims, actions or lawsuits in connection with the Idea and you agree to notify the Implementing Agency, immediate upon your notification of any such claims, actions or suits;
  • You are submitting the Idea voluntarily on a non-confidential basis;
  • You are at least eighteen (18) years of age; and a citizen of India
  • You have the right, authority, and capacity to enter into this agreement, and you agree to abide and be bound by the terms and conditions herein.


You agree that the decision of the competent authority and its committees in selecting and awarding the Ideas shall be final and no discussion or correspondence shall be entertained in this matter.


Sending in your Entry, or submission of the Idea, in no way grants / transfers any rights therein or otherwise to us or the Incubators. You are requested to register the copyright / patent of any intellectual property before submission to protect your rights under applicable copyright / IP laws. You are solely responsible for protecting your rights in the Idea and while you retain the ownership and all rights to the Entry itself, we will be free to use the entry, photos, creative materials submitted of the idea, as well as any other information or collaterals for Promotion.


The Selected start-up company / Incubatee will be hosted and seeded in the incubator for a period of 1 year, for which a part of the grant will be utilised. Two further extensions can be granted for 6 months each at a time, at the sole discretion of incubation centre, at an overhead cost which shall be directly borne by the Incubatee.


The Start-up company/Incubatee will be required to leave the incubator under the following circumstances:

  1. After the completion of the Incubation including extended incubation period, if any.
  2. Underperformance or in-ability to perform business as evaluated and decided by incubation centre on case to case basis.
  3. Violation of any Statue, rules and regulations of incubation centre in the opinion of incubation centre & Mentors allocated on case to case basis.
  4. Number of employees of the incubatee exceeds 10.
  5. When the annual gross revenues of the incubatee (excluding all the taxes) exceeds Rs. 1 crore or the Net Profit After Tax exceeds Rs. Ten lakhs. Capital cash flow exceeding Rs 1 crore, in the opinion of incubation centre on case to case basis.
  6. When the start-up / enterprise / company enters in an acquisition, merger or amalgamation deal or reorganization deal resulting in a substantial change in the profile of the company, its promoters, directors, shareholders, products or business plan.