NSIC - National Small Industries Corporation
NSIC - Facilitating the Growth of Small Enterprise Since 1955

MSME Mart






Last updated date - Thursday, October 02, 2014
 
IT INCUBATOR

 


Background:


With the globalization of Indian economy, the traditional sectors as well as hi-tech areas are in immediate need of innovations and fresh technological inputs. Emerging technological and knowledge-based ventures seek nurturing of ideas form professionals for which one need to go beyond the traditional venture capital activity. Such entrepreneurial ideas have to be fostered and developed in a supportive environment before they become attractive for venture capital. Hence the need arises for incubation centers.

Recognizing the importance of Information Technology and its contributions towards export earnings, NSIC established its first Software Technology Park at Okhla in 1995. The Park has met its objectives in terms of facilitating establishment of business units within minimum lead time and creating the complete business environment conducive to software exports. Based on the experience gained, a Technology Business Incubator in IT sector is being established at Okhla. This initiative is also aimed towards backward integration of the existing NSIC STP objectives.


Objectives:


Creating sustainable entrepreneurship development in the area of ICT especially first generation entrepreneurs. Nurturing the innovative ideas to commercially viable business prepositions. Encouraging commercialization of R&D outputs into commercial ventures.
Harness the expertise of NSIC in extending hand holding of start-up companies to become successful SSI enterprises. Networking between R & D and industry Target beneficiaries

Primary target groups:

Persons who would like to become an entrepreneur or have founded an enterprise. Groups of researchers´ nearby universities who are partially financed by an industrial partner in-charge and who develop products adapted to this partner´s needs Students or ideally potential employees of start-ups, who are in need of some practical training in the industry. People who have an established credibility in the industry and would subsequently like to start product development on their own.


Secondary target groups :

Investors, who financially commit themselves to researchers´ groups as well as to the start-ups at the Incubator. Clients and sales partners who are interested in cooperation with researchers´ groups and start-ups at the Incubator. Industrial enterprises, universities and private training institutions who are interested to transfer their know-how within the qualifying offers of the Incubator and mediate their clients


Location of NSIC-TBI


NSIC Technology Business Incubator on Information Technology is located in the premises of NSIC Technical Services Centre at Okhla Industrial Estate, New Delhi. This location is ideal for the occupants of incubator due to the prevailing conducive environment for software development and presence of established small-scale entrepreneurs in software development housed in the NSIC Software Technology Park.


Services Provided


  • Ready to move in Built-up Space ,Standard Computer Hardware facilities,Access to Software Library,Internet and Business Centre facilities.

  • Preliminary Level  Training / Counseling,Facilitation in fine tuning business plans,Specialized training,Mentoring Services,Market exposure

  • Advanced level Facilitating seed finance / venture capital,Market Survey,Support in legal formalities,Documentation support,Maturity level

  • Sourcing of business partners,J. V / technology transfer,Legal and statutory formalities for launch of enterprise,Selection Process

The prospective entrepreneur has to submit an application in the prescribed format to NSIC. The application should contain a business plan of the proposed idea to be incubated giving details of technological advantages, marketing opportunities and financial considerations.All the applications will be scrutinized on the merit basis by a selection committee. After the preliminary scrutiny, the applicant will be called for presenting his business plan to the selection committee. The selection criteria are based on the strengths & merits of the business plan and the basic entrepreneurial skills of the applicant. The business ideas of the prospective entrepreneurs will be dealt with high confidentiality and professionalism. NSIC ensures its best efforts towards maintaining the confidentiality of the business plans, however, does not take responsibility of legal, patent or any other obligations of all the applicants. The decision of the selection committee is final and binding on the applicants. After the selection, the prospective entrepreneur has to sign an agreement with NSIC to start working in the incubator.


Incubation Period


Since, products and services of information technology are technologically sensitive and have shorter life cycles, the incubation period is kept at maximum of 12 months. However, in the deserving cases, as recommended by the selection committee, the time may be extended maximum to another 6 months in the intervals of 3 months each.
 


Exit Norms


All the incubator occupants shall have to submit a monthly progress report of their activities to NSIC. A quarterly review will be taken by NSIC objectively to analyze the milestones to be achieved as per the business plans submitted by the occupants. Unsuccessful projects are liable to be terminated during the reviews. The incubator occupants have to complete the requisite business process to become enterprises within 12 months failing which, NSIC will withdraw the infrastructure facilities and other services being provided to the entrepreneurs.  Any occupant maturing within 12 months may vacate the facilities at the incubator.


Licence fee


For the utilization of the space and infrastructure of NSIC-TBI, the prospective entrepreneur shall pay a monthly licence fee to NSIC. In addition to the licence fee, business center, telephone and internet charges are also payable on actuals. Expert services like marketing, legal, accountancy etc. are also chargeable.


How to apply


The prescribed application form is downloadable (Please Click Here) free of cost. The application along with the business plan shall be submitted to

Project Manager - NSIC TBI-Okhla,
NTSC Premises
Okhla Industrial Estate, New Delhi-110020
011-26926513
E-mail: itincubator@nsic.co.in