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.
5. REPRESENTATIONS AND WARRANTIES
By agreeing to the Terms and Conditions, you hereby warrant and represent the following:
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.
7. INTELLECTUAL PROPERTY RIGHTS
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: