setting up an incubator under up startup policy 2020

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Setting up an

Incubator under

UP Startup Policy

2020.

Guidelines for

Incubator

Recognition

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Overview

Historically, India has been the land of entrepreneurs. The visionary Prime Minister of India Launched the “Startup India” campaign with a vision to create a world class ecosystem for startups in India. Today, India is positioned as the third largest startup ecosystem in the world. India is also home to the third largest number of unicorns in the world. This historic growth in the Startup Ecosystem of the country has been witnessed due to access to abundant, high quality talent, strong underlying macroeconomic growth, holistic ecosystem enablers, and a supportive regulatory framework. The Government of Uttar Pradesh has launched the new “Startup Policy 2020” and focusing on providing the startup ecosystem with all the support that it needs with the goal to make Uttar Pradesh a leading destination for entrepreneurs and investors. A startup ecosystem comprises academia, entrepreneurs, enthusiasts, support organizations, incubators, investors, research institutions, government, and industry. From the launch of the Startup Policy in July 2020, the State government has significantly eased the process for building and sustaining startups. The number of startups in the state have increased from 540 in 2018 to over 3800 until April 2020 covering 75 districts of Uttar Pradesh. To further enable this vibrant ecosystem, there are over 24 incubators, supporting startups across all sectors.25% seats in these incubators are reserved for Women founders.

Preamble The state of Uttar Pradesh with tremendous potential for entrepreneurship has been steadily moving towards building a robust startup ecosystem in the state over past few years. The state announced its first startup policy “IT & Startup Policy 2016” to promote the spirit of innovation and entrepreneurship which was later amended as “IT & Startup Policy 2017”. However, one more revision of the policy became essential due to introduction of State’s Startup Ranking Framework by Government of India and the commitment of UP Government to promote the policy at the grassroot level by integrating state government schemes such as Yuva Hub, Innovation Hub and the Largest Incubator in Lucknow. Therefore, the state Government has decided to launch new Startup Policy 2020 to make it more holistic and beneficial for the Youth of the state.

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This policy also aims to broad base the coverage of the policy seeking greater collaboration amongst state government departments, technical and higher education institutes etc.

With the introduction of new “Startup Policy 2020”, the State Government is aiming to inculcate the culture of entrepreneurship at school level itself in order to make students learn virtues of entrepreneurship during early years of their education. This initiative will not only elevate the student learning to a new level but also help in creating entrepreneurs of the future.

The new Policy aims to build a holistic startup and entrepreneurial ecosystem in the state by supporting the establishment of Tinkering Labs in Schools, E-Cells in colleges, Incubators in institutes of higher learning and Centers of Excellence to promote research & development in the areas of emerging technologies etc.

Vision To establish a world class startup ecosystem in the state by developing a robust infrastructure and providing conducive policy environment.

Mission Promote the culture of innovation and entrepreneurship at the grassroot level leading to employment generation and introduction of emerging technologies in niche sectors thereby contributing to state economy and empowerment of youth.

Goals 1. To be among top 3 states in the “States’ Startup Ranking” conducted by,

GoI

2. Establish/support 100 incubators, minimum one in each district of the State

3. Develop minimum one million square feet of incubation/acceleration space for startups

4. Create the ecosystem for at least 10,000 startups in the state

5. Establish 3 state of the art Center of Excellence (CoEs)

6. Establish India’s largest incubator in Lucknow

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Incubators as anchors of Startup Ecosystem

What is a startup incubator?

A startup incubator is an institution established with the objective of helping new startups succeed. Incubators help entrepreneurs solve some of the problems commonly associated with running a startup by providing workspace, seed funding, mentoring, and training. The sole purpose of a startup incubator is to help entrepreneurs grow their business.

Incubators are the most critical component of startup ecosystem. They are established by private/government host institutes to support startup companies during their early stages of life to develop a scalable business model. They provide startups with various resources such as physical office space, coaching, mentoring, legal & corporate services and providing network connections to grow their business. An incubator shall also mean a Technology Business Incubator recognized by Government of India. In the context of this policy, incubators will serve as first point of contact for startups to get their business plans evaluated for availing any incentives as per the Startup Policy. Startups shall be able to apply for financial incentives to Nodal Agency only after approval by the incubators.

i. State Government shall promote establishment of incubators in each district of the state.

ii. Largest Incubator: The state aims to develop country’s largest Incubator in Lucknow under hub and spoke model.

iii. Host institutes willing to get recognized under UP Startup Policy shall be required to fulfill the following parameters:

• Floor Area:10,000 sq. ft. for educational institutes and 5,000 sq. ft. for incubators occupying commercial space

• Dedicated Incubation Team: Incubator must employ a dedicated incubation manager to manage the regular operations along with 2 other team members to support.

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• Co-working Space: Incubator shall create coworking space of at least 100 sq. ft. per seat.

• Meeting Rooms: There should be availability of dedicated meetings rooms available to be used for client meetings by startups.

• Conference Room: A conference room should also be there to hold small events or mentoring classes for startups founders.

• Cafeteria/Refreshment Zone: Refreshments zone shall be established for startups and visitors working from/visiting the incubation center

iv. Apart from physical infrastructure, Incubators shall also be required to set up digital infrastructure to offer incubation services and engage with startups/other stakeholders digitally. They will be required to provide input in digital format (through API integration with Start-In-UP Portal, wherever possible) against Key Performance Indicators assigned by the Startup Nodal Agency/PIU to all GoUP recognised incubators.

v. Sector specific incubators shall be established in consultation with respective departments through collaboration/partnership with academic institutions/private sector.

vi. Host institutes like Government and Private Technical Colleges, Management Institutes, R&D Institutes, organizations /non-profit organization/corporates/industry association shall be encouraged to establish Incubators in Uttar Pradesh. The selection of host institutes shall be done after due diligence and fulfillment of the laid down guidelines. However, the financial incentives assigned for incubators can be claimed by private institutions only and Government host institutes shall not be covered under this policy as they already get grants and endowments under various schemes of State/Central Governments.

vii. Women led startups: 25% incubation seats at GoUP recognized incubators shall be given on priority basis to startups with women founders/co-founders on preferential basis.

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Legal Entity for Incubator Entity Structure: The legal structure selected by the incubator should be relevant to the nature of the incubator, its strategy and the financial model which sustains it. The incubator’s strategy will determine whether the optimal legal status for the incubator should be as an independent unit or as a connected unit of an existing institution such as a university, a company or a local government body. The independent unit is a legal entity on its own and has advantages like more flexibility regarding funding and decision-making. The advantages of a legal status as a connected unit include more interaction between institutions, use of host resources and more possibilities to leverage off the bigger brand to access funding. Since the incubator will be set up to support startups in scaling up, and not necessarily from the point of view of creating source of revenue, a not-for profit incubator must be set up. A not-for profit incubator can register itself as any one of the below types of legal structures: 1. Society under Society Registration Act, 1860 or equivalent State Law 2.Section 8 Company under The Companies Act, 2013 (formerly Section 25 company under The Indian Companies Act, 1956) 3. Public Charitable Trust The above legal structures allow the incubator to avail the below benefits: Registration under Section 12AA under the Income Tax Act 1961; subject to permission from the Income Tax Authority. Ability to provide its donors the benefit of availing exemption on donations given under Section 80G of the Income Tax Act, 1961; subject to permission from the Income Tax authority for grant of approval under 80G. Allowing FCRA registration that allows accepting receipt of fund from foreign

entity

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Managerial Structure and Team A very important factor for incubators is finding and retaining a team with the right skills. Effectiveness of the working of the incubator can be linked directly to the skills, commitment, vision and entrepreneurial leadership talent for their incubator management teams. It has been observed that the right incubator management team can set the incubator on a road to success. The operational tasks at an incubator are divided into two basic categories: 1. Activities related to operations of the business incubator 2. Activities related to fostering growth of incubates Team Structure: Each Incubator must have at least 1 Incubator Manager supported by 2 other supporting staff members. There should be a panel of mentors from different areas like Technology, finance, legal, taxation, banking etc. Setting up the Infrastructure Infrastructure is a key to the growth of Startups in a state. Affordable workspaces that are equipped to handle the connectivity and creativity requirements of Startups play an important role in building the health of ecosystem. Host institutes willing to get recognized under UP Startup Policy shall be required to fulfill the following parameters:

• Floor Area:10,000 sq. ft. for educational institutes and 5,000 sq. ft. for incubators occupying commercial space

• Dedicated Incubation Team: Incubator must employ a dedicated incubation manager to manage the regular operations along with 2 other team members to support.

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• Co-working Space: Incubator shall create coworking space of at least 100 sq. ft. per seat.

• Meeting Rooms: There should be availability of dedicated meetings rooms available to be used for client meetings by startups.

• Conference Room: A conference room should also be there to hold small events or mentoring classes for startups founders.

• Cafeteria/Refreshment Zone: Refreshments zone shall be established for startups and visitors working from/visiting the incubation center

Some of the essential resources and services need to be provided by the incubator includes • Internet (Wi-Fi and LAN connections) • Video conferencing options and hardware • Landline telephones • Electricity • Furnishing (chairs, tables, and cubicles) • Printer, scanner, and copier • 3-4 Meeting rooms • Cafeteria (drinking water, coffee machine, food options) • 2-3 spare Android & iOS phones for testing apps Additional Facilities • Wi-Fi 24*7 • Auditorium/ Board Room • Security (Card Key, Lockable Offices, Lockable Storage areas) • Parking Spaces • After hours guest access mechanism • AC/Heaters with uninterrupted power supply • Recreation Area

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Role of a Startup Incubator: An incubator support the development of start-ups by providing them with advisory and administrative support services. They help the startups in identifying future problems and solving the current problems faced by the Startup. Below are few of the problem startups face: Phase 1: Ideation 1. Pre-incubation training programs for aspiring entrepreneurs 2. Seed funding mechanism/ grants for ideation stage startups Phase 2: Validation 1. Mentorship focused training programs 2. Infrastructure availability- office space, testing facilities etc. 3. Mentor network 4. Other ecosystem enablers like corporates, investors etc. 5. Funding schemes for validation of products 6. Angel network 7. Engagement with research institutes and academia Phase 3: Early Traction 1. Networks of venture capitals and angels 2. Mentor network 3. Advisory and mentor organizations 4. Accelerator programs 5. Engagement with corporate innovation programs 6. Access to crowd funding portal 7. Service provider companies (legal, accounting etc.) 8. Platform and opportunities for showcase and for business development 9. Access to markets Phase 4: Scaling 1. Networks of venture capital funds 2. Access to international and domestic markets

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Offerings to Startups Incubators need to provide startups with catalysts that would enhance the growth of the startup and would ease out burden. Some of the facilities that incubators should

provide are:

I. Infrastructure The incubation centre should provide basic infrastructure support to startups including: Co-working space: Dedicated cubicles/desk-chair should be available for startups depending on the number of seats they opt for. The centre should also have meeting rooms and conference rooms. Internet: The centre should have high speed internet facility available for all startups 24*7 Pantry: Pantry/Cafeteria should be available for use by startups. Startups can be charged for using this service. II. Partner Services Incubator should partner with companies to offer pro-bono services to startups like Cloud Credit for hosting website and managing business phone systems on the Cloud Management & Enterprise Software by making use of SaaS solutions to automate organizational processes such as sales and marketing and enhance productivity levels. Legal Services including company incorporation, structuring and compliances. Financial Services providing use of convenient banking and fintech services for starting up and running business. Marketing Services providing tools to assist startups in marketing their product. Other business services that can help startups in their operations Startup India has various resource partners listed on the platform providing pro bono services to startups registered with Startup India. III. Programs & Activities to be conducted Various programs and activities can be organized by the incubator to build capacity of the startups and provide them an opportunity to network with relevant stakeholders.

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Few of these (suggestive) activities include organizing Workshops on topics like how to pitch, how to raise funds, how to market their product, regulatory compliances, etc. Mock Pitching Sessions to preparing them for pitching to investors Hackathons to motivate innovators to develop solutions within a given period of Time Host delegation of startups & stakeholders (including foreign) to provide networking opportunity to startups Speaker sessions by established startups, corporates, mentors. Government Officials to educate and disseminate information Meet ups to provide networking opportunity to startups Exposure visits to global ecosystem Business Support by incubation team like connecting startups with relevant stakeholders for business development, help in preparation of their pitch deck

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Developing Incubator’s Strategy Every Incubator should have pre-defined operational guidelines and plans to help it navigate over the years to support startups. Defining certain points such as sector of startup, stage of startup, services being offered, incubation model help in streamlining the operations of the incubator. Every incubator should map their ecosystem before finalizing sector and stage of startup to be supported. Revenue Sources An incubator has various sources of funding available by the government and private bodies to setup and run operations, however they should focus on becoming self-sustainable after a period of approximately 5 years from the date of their establishment. The Startup Policy 2020 offers following financial incentives to the incubators:

Incentives for Incubators

1. Capital grant

Capital grant on setting up/scaling up technology infrastructure for the private host institutes shall be reimbursed upto 50 percent of the eligible amount subject to maximum limit of INR One (1) Crore, first installment to be capped at 25 percent of the maximum limit. The demand for the same shall be raised on quarterly basis by incubators. The limit of INR 1 crore shall be increased to INR 1.25 crore for incubators established in Purvanchal/Bundelkhand regions.

Capital grant to government host institutes shall be given in exceptional cases only post approval by PMIC. However, despite not getting the capital support, government incubators will continue to act as first point of contact for startups on behalf of Startup Nodal Agency.

2. Operational Expenditure

Financial support to incubators upto INR 30 Lakhs per year to cover operational expenditure for 5 years or until self-sustainable whichever is earlier. This incentive shall be granted to those incubators which have 10 or more startups incubated. The year-on-year continuation of operational expenditure support shall be solely

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dependent on incubator’s performance assessed through Incubator Performance Evaluation Framework released by Nodal Agency and approved by PMIC.

3. Acceleration Programs

Acceleration programs are short to medium term mentoring programs to support startups with business expansion once they have scaled up from an idea to formal product launch in the market. A matching grant of INR 5 Lakhs per year (Maximum INR 2 Lakhs per program) shall be given to competent institutions (upto 25 institutions per year) to run acceleration programs for supporting the startups.

Acceleration programs with minimum 10 startups participating shall be eligible to get incentives under this program and maximum 100 programs could be organized in a year under the policy.

The competent institutions in this case would be GoI/GoUP supported/sponsored incubators, angel investors registered with SEBI/Banks or reputed academic institutions. Capping on total number of institutions benefitted could be relaxed by PMIC on recommendation of PIU.

4. Annual Incubator Rankings

State level annual incubator rankings shall be introduced as per the KPI framework approved by the PMIC. An external agency will be engaged to perform the evaluation and assign rankings. Top3 performers in the ranking will be awarded amount of INR 3 Lakhs, 2 Lakhs and 1 Lakh per year to the winner, first runner up and the second runner up respectively.

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Other than the government incentives, an incubator can tap few of the following avenues to generate revenue:

1. Renting out co-working space Rental charges for co-working space offered to startups can be a source of funding, though incubators need to achieve a significant size before this becomes a major income source. Startups can be charged on per seat basis. The meeting and conference rooms can also be provided on per time use basis. The rent amount ranges from INR 5,000 – INR 10,000 per seat per month. Rent in many incubators in USA, China, Brazil, and other countries is the main income source (up to 40%) and can make incubators self-sustainable if large enough. In South Africa, incubators gets 20-30% of their revenues from rents. Sometimes initial rental is subsidized.

2. Equity from incubates Equity from startups is another source of revenue for incubators. Incubators can take minority stakes (2-6 %) in incubated businesses, often in return for free and low rent periods, enabling future income from dividend payments. An additional equity (e.g. 1-2%) may be further added for additional periods spent in the incubators. The low percentage of shareholding implies that there are many opportunities for it to liquidate its position. To work, the equity model requires scale and portfolio quality.

3. Program Funding Incubators can partner with various stakeholders like Corporates, Government Departments, etc. to host programs for them. These programs may include start-up support programs, ecosystem development programs, or, branding/marketing programs. This comprise for majority of cash flow into the incubator, focus needs to be put on on-boarding partners and hosting multiple programs. This revenue is usually received in the form of management fee for managing the program on behalf of the stakeholder. Also, it can either be restricted grants having fund utilization guidelines that the incubator needs to follow, or unrestricted grants allowing the incubator to utilize the funds as they deem ft in order to realize the end outcome from the grant. For example, SINE IIT Bombay runs DST’s NIDHI PRAYAS, NIDHI EIR, Intel & DST’s Pulgin.

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4. Professional Fee Incubators can offer knowledge support to various stakeholders in terms of outreach, consulting, capacity building, training, mentoring and charge fee against it. For example, KSUM, FIIT IIT Delhi, Startup Oasis and KIIT are managing Startup India’s WING initiative.

5. CSR grant from corporates The Companies Act requires firms with a net worth of Rs 500 crore, turnover of Rs 1,000crore or net profit of Rs 5 crore or more, to set aside two percent of their average net profits over the last three years towards ‘approved’ CSR activities Schedule VII of the Companies Act consists of a list of activities that are covered under Corporate Social Responsibility (CSR) and item (ix) of schedule VII include contributions to a. Incubators funded by Central Government or State Government or any agency

or Public Sector Undertaking of Central Government or State Government. b. Public funded Universities, Indian Institute of Technology (IITs), National Laboratories and Autonomous Bodies engaged in conducting research in science, technology, engineering, and medicine aimed at promoting Sustainable Development Goals (SDGs).

Non-Fiscal Incentives for Incubators/ CoEs/ Startups i. As per the notification issued by Government of India, startups shall be

allowed to self-certify with 9 labour and environment laws (currently approved by GoI and will be revised time to time based on GoI notification) or as per any amendments afterwards. In case of the labour laws, no inspections will be conducted for a period of 3 to 5 years from the date of incorporation. Startups may be inspected on receipt of credible and verifiable complaint of violation, filed in writing and approved by at least one level senior to the inspecting officer.

ii. Permission shall be available for 3-shift operations with women working in the night for startups, subject to such units taking the prescribed precautions in respect of safety and security of employees in addition to providing the required welfare and health amenities as prescribed under applicable labour laws and obtaining the necessary approvals from the competent authority.

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Financial Assistance to Startups

As per the UP Startup Policy 2020, incubators play an important role in the startup lifecycle and primary touch point for startups to avail financial incentives under the Policy. A startup is required to reach out to GoUP recognised incubators for incubation and recommendation for the state government incentive. GoUP recognised incubators are Authorised to recommend startup to the state startup Nodal Agency for processing various financial incentives under the Policy. The following incentives are available for the startups incubated under the incubator in the Startup Policy 2020. Each Incubator can recommend 10 startups each year for the following financial incentives. i. Sustenance Allowance

Sustenance allowance at the rate of INR 15,000 per month per startup for a period of one-year upto 10 startups per incubator per year shall be given to startups at the idea stage. This incentive shall be given to only those startups founders which are financially needy. The criteria to identify needy startups shall be approved by PMIC.

ii. Seed Capital/Marketing Assistance

The seed capital will be given in the form of Marketing Assistance upto INR 5 Lakhs per startup upto 10 startups per incubator per year to launch the Minimum Viable Product (MVP) in the market. The seed capital will be disbursed in milestone-based installments (e.g. 40% + 30% + 30%) in three tranches, the first being advance and remaining two on completing the milestones. On disbursement of first installment, Startups shall have to commit Key Performance Targets to the PIU on which they will be assessed before releasing the second and third installments of the grant.

An evaluation committee will be set up for approval of grant demands from startups and will be sanctioned/disbursed only on the recommendations of the evaluation committee.

Note: Additional 50% shall be given to startups founded/co-founded by women/divyangjan/ transgender or startups having 50% or more women/ divyangjan/Transgender employees or startups having registered offices/operations in Purvanchal/ Bundelkhand regions for both Sustenance

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Allowance and Seed Capital/Marketing Assistance, or Startups founded/co-founded by persons from Economically Weaker Section (EWS).

Performance Indicator for Incubators

Incubators setup goals at the start of every year to provide startups with required resources to nurture their growth. A similar exercise should be conducted at the end of every year to track progress and impact created over the years. Some of the criteria that should be measured are: • Number of startups incubated • Number of prototypes created by incubated startups • Number of patents filed • Number of Pilot opportunities tapped • Amount of revenue generated by incubator • Percentage of occupancy of incubator • Number of startups graduated • Number of workshops/webinars conducted • Total number of mentoring hours provided • Number of products commercialized i.e. got their first sales • Number of startups invested/ Amount of money invested • Number of incubated startups that raised follow up funding • Number of startups graduated • Number of jobs created by incubated and graduated startups • Revenue generated by each startup • Return on Investment • Number of women entrepreneurs supported.

Application Process

i. Incubators shall submit their application for recognition under the

Startup Policy 2020 to the state startup Nodal Agency through online platform www.startinup.up.gov.in . (Form in annexure 1)

ii.

iii. At the time of application, incubator must be operational with all the required infrastructure in place along with following ecosystem:

http://www.startinup.up.gov.in/

http://www.startinup.up.gov.in/

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✓ Minimum 5 startups incubated

✓ At least 10 mentors onboarded

✓ 5 MOUs to establish industry connect

✓ Must have conducted at least 10 startup/ entrepreneurship programs in the past

iv. The Nodal Agency will assign a team for incubator visit to review the infrastructure/ facilities, incubation ecosystem and interact with various stakeholders. A visit report afterwards will be submitted by the team to Nodal Agency.

v. Based on the visit report and application form submitted by the Incubator, the case will be presented to the PIU Committee to take a final decision on the recognition and financial incentives.

vi. After the approval from PIU, Incubator will receive a confirmation letter from the Nodal agency regarding the recognition

Note:

a. Government host institutions shall not be eligible to get Capital Grant. However, all other provisions related to incubators mentioned in this policy shall be applicable to them

b. Only those Incubator which are having at least 10 startups incubated with them are eligible for the Operational incentive.

c. Host Institutes must maintain a separate account for all incubator related activities.

For more details and support feel free to contact

Praveen Kumar

DGM, UP Electronics Corporation

Email id: [email protected] Mobile: 9235567201

www.startinup.up.gov.in

mailto:[email protected]

mailto:[email protected]

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Annexure 1

Department of IT & Electronics,

Government of Uttar Pradesh, India

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Proposal Form for setting up Incubator under Uttar Pradesh Start-up Policy 2020

Details of Host Institutes and Incubators ()

Host Institute Details

Name of Host Institute:

Address of Host Institute: Pin code:

Year of Establishment:

Telephone: Website: Fax: Email:

Contact person name:

Mobile number

Email Id:

Is it situated in Eastern UP/Bundelkhand region? Yes No

Nature of Institute: Government Private Total capacity for startups:

Coworking seats --

Head of Host Institute Details

Name: Designation:

Contact Number: email:

Incubator Details EXISTING INCUBATOR Brief Incubator Profile:

Year of Establishment: Area of Incubator (in sq feet): Facilities available for Startups: (Incubator must have all the facilities mentioned in the policy document) Tenure of Incubation Period permitted to incubates: Thrust Area of Existing Incubator (Please tick the relavent)

• Mobile and Information Technology

• Internet of things, e-commerce

• Electronics design/VLSI design

• Any innovative ideas/technologies in IT & Electronics sector

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• Women entrepreneurship dedicated

• Others, please specify Details about Existing Partnerships and Collaboration with Other Organizations for Existing Incubator: Name of Partner Organization Type of services provided to Startups Date of MOU

IT Infrastructure services provide to Startups

Name Description (Qty/Space etc) Total Amount Amount of Capital Grant

claimed* (Not more than

1.25 crore , up to 50% of

the total amount)

Server

Router

UPS

Networking

Cabling

Switches

Racks

Firewall

Wifi Access Points

Others, please

specify

TOTAL AMOUNT OF CAPITAL GRANT

Structure of Incubator An incubator must be a registered entity falling under one of the following categories. Please provide details, accordingly

• Society (under The Societies Registration Act, 1860)

• Section 8 Company (under The Companies Act, 2013)

• Private Limited Company (under The Companies Act, 2013)

• Public Company (under The Companies Act, 2013)

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• Limited Liability Partnership (under The Limited Liability Partnership Act, 2008)

Incubator Team Incubation manager: other staff: Other Sources of funding for Incubator

Please provide the details about the other sources from where funding has been raised or is proposed to be raised from for the Existing/New Incubator Authorized Representative Details of (New/Existing) Incubator

Name of Authorized Representative:

Designation of Authorized Representative:

Mobile No. of Authorized Representative:

Email id of Authorized Representative:

Portfolio of Incubates

Name of Company:

DPIIT Registration Number:

District of registration:

Incubation Period:

Promoter(s) Name and Contact details:

Company Description:

Products/Services:

Website:

Name of Company:



Incubation Period:



Products/Services:

Website:

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Name of Company:



Incubation Period:



Products/Services:

Website:

Name of Company:



Incubation Period:



Products/Services:

Website:

Note: Add more rows for Incubates, accordingly

Operational Expenditure

Description Amount (proposed) claimed in Year 1

Amount (proposed) claimed in Year 2




Total Amount claimed for 5 years:

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Mentorship

S NO. Name of Mentor Designation of Mentors Contact details of Mentors

(phone number/email id)

Please provide copies of resumes of mentors.

Details of Incentives sought under UP Start Up Policy 2020

S. No. Incentive Incentives Sought (In Lakhs)

1. Capital Grant

2. Operational Expenditure (Maximum 30 lakh per year for 5 years)

Date: Signature of Head of Host Institute:

setting up an incubator under up startup policy 2020

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