In case of faculty member from IIT Roorkee,he/she must obtain permission from the offices of Dean (R&D) and Dean (Faculty affairs) to be part of the venture.
Pursuing student- will have to obtain permission from his or her faculty guide and/or head of department for starting a venture and TIDES incubation in TIDES. A letter from guardian may also be needed. This is to avoid any academic or social conflict vis-a-vis incubate companies as also with TIDES.
If a potential venture is based on technology, Intellectual Property (IP) or know-how belonging to or developed in IITR (IITR IP) or belong to or developed by full time employees of IITR (Private IP), the inventor (student or faculty member) has to obtain the permission from the office of Dean – R&D for technology transfer or technology licensing in favour of the venture.
Similarly, a faculty who is an inventor of a technology which is a private IP will also initiate a letter to Dean -R&D, IIT Roorkee and TIDES indicating his/ her intention to promote/ support a start-up company with the said technology. In the said letter, the inventor will also inform that it is his/ her private IP which he/ she agrees to transfer it to the proposed start up company.
If IP is of any other institute or organization, NOC from concerned institute/organization will have to be obtained.
In the event there are other members involved in the development of the IP and if they are not going to be part of the startup /venture NOC from each of them will have to be obtained from each of such members.
Infrastructure –Physical infrastructure with fully furnished office, conference room, meeting room, internet etc.at a very nominal cost.
Ecosystem –Benefit from the ecosystem at TIDES and in IIT Roorkee, Access to IITR labs, Proximity of technical and management expertise at IIT Roorkee, Library resources and access to the talent pool of IIT Roorkee like students.
Funding-Upfront Cash Support and Additional Seed Support on case-to-case basis.
Advisory –Business plan assistance, Mentoring support, Access to professionals with legal, financial, accounting, IP, and industry expertise, Training programmes and seminars relevant to entrepreneurs
Visibility –Showcasing events for exhibition of products and solutions, Networking events to facilitate interaction with investors and industries
frequently asked questions
Here you can find queries related to the incubation, registration and other general frequently asked questions
Idea disclosure:The entrepreneur shares their idea which is then screened for technology and business validation. Preferably an appointment needs to be taken and a short write up about the idea needs to be shared with the business development manager
Pitch:This covers the elevator pitch, business model canvas and customer validation
Business plan deck:This covers wider aspects such as pilot trial results, customer validation if any, go to market plan, cash flow statements, funding requirement etc
Two Level Review Process
Internal – Discuss business ideas with TIDES representative(s), may invite applicants to make presentation.
External – After successful internal review process, the B plan is sent to at least 2 experts who review the plan and provide their feedback and recommendations. The experts are usually from the domain with user perspective and/or an investor.
Incubation –This can be either Physical or Virtual based on the needs of the entrepreneur and availability of space. Up front cash support and mentoring will be provided.
Pre-Incubation –For early stage ideas with good potential, a mile stone based mentoring support for up to 6 months without cash support. After successful demonstration and review if required, can be converted into incubation.
Incubate company will enter into necessary agreements on the approval of the admission in the Business Incubator.
If the applicant is not a registered company, the applicant will have to register a company within a period of three months from the date of approval for admission in the Business Incubator.
Incubate companies will be subject to continual reporting as per the Business Incubator (TIDES) policy and are governed by the policy guidelines (including any changes that are incorporated from time to time) during the tenure at the BI.
The company will be subject to periodic progress review to determine the progress and assess the growth projections and achievements of milestones.