*Admission in the incubator is subject to business plan review process.
1. Who can apply for incubation programme?
A team which consists of at least one member from PSIT / PSIT coe / PSIT CHE community who could be
• Current students
• Alumni
• Faculty
• Partner Organizations
or
Any other person who wants to start a venture.
2. What is the process for admission in PSIT-IEDC?
Applicants have to submit business plan to PSIT-IEDC. Admission to the business incubator is based on evaluation of business plan carried out by external reviewers with relevant expertise.
All relevant information is available on our website www.psitiedc.in
3. How long can a start-up stay in the incubator?
An incubatee company can stay in the incubator for a maximum of three years.
Pre-incubatees can remain till they achieve certain business milestones.
4. Do the incubatees have to be incorporated companies?
Yes. A team may approach for incubation without being a registered company but once incubated, all incubatees have to be registered as a private limited company within 3 months of incubation.
5. When will an incubatee company exit the incubator?
Incubatees have to exit PSIT-IEDC on completion of three years’ term or if the companies do not perform during the incubation period.
6. What are the facilities and support we get from incubator?
Incubatees get physical infrastructure and business support. During pre-incubation, potential entrepreneurs also get office space, assistance in preparation of business plan, and business advisory support. Virtual incubatees get advantage of business support from PSIT-IEDC.
7. What do we have to pay for incubation support?
Companies have to pay consideration for incubation which is combination of subsidized rent, small equity and revenue share.
8. what is the maximum incubation support time?
Maximum incubation support is for three years. On completion of three years, incubatees have to exit the incubator
