NSIC IT Incubator
NSIC IT Incubator
National Small Industries Corporation (NSIC) is working to fulfil its mission of promoting aiding and fostering the growth of Micro, Small & Medium Enterprises (MSMEs) in the country. All the traditional sectors of India and high-tech areas are in total need of new innovations and all new technology. This is mainly because of the globalisation of the Indian economy. The growing technology seems to have many professionals with good knowledge and are emerging with new ideas every day.
The ideas of entrepreneurial professionals have to be developed in a good and supported environment before they are attracted to venture capital. Incubation centres are needed for these purposes.
Objectives
- The first generation of entrepreneur’s innovations is used in sustainable development in the area of Information Technology in NSIC.
- The Innovative ideas of the entrepreneurs are nurtured for making them commercially available for business purposes.
- The outputs produced will be encouraged and managed to become commercial ventures.
- NSIC will provide its expertise helping hand to the start-up companies. This will help them to become successful companies.
- There is a network established between the R&D and the industry target system.
There are two types of target groups to be focussed in the NSIC IT incubator. They are:
Primary target group
- The small start-up company owner or a person who is willing to become an entrepreneur can become a primary group.
- Group of research people from the surrounding universities and are funded with only a partial amount become a primary group.
- Students or capable employees of the start-up companies and are in need of practical training in the company.
- People who like to start their development of products can be a part of the primary group.
Secondary target group
- People who are financially strong have a tie-up with the researchers are capable of forming the start-up groups at the Incubator.
- Sales Partners and their clients who are personally interested in coordinating with the research people can form a group at the incubator.
- Universities, private training institutes, and industrial enterprises can form a group at the incubator.
NSIC Incubator
The NSIC Incubator is located at the Centre of Okhla Industrial Estate, New Delhi.
Services by the Incubator
- To provide with a building and business space, computer hardware, and software facilities, the software library and providing access to it, the Internet for business purposes all these facilities will be provided.
- All the guidelines will be provided, and preliminary level training will be given, business plans will be discussed, specialised training will be provided, and the exposure of the market and business will be provided.
- Provides support for documentation, survey, legal formalities support, managing the finance will be provided.
- The process of identifying the business partners will be provided along with legal formalities for starting a business, and its selection process will be guided.
Application Process
- The entrepreneur has to submit the application in the given format to NSIC.
- The application must contain all the business plan along with the marketing and financial sources.
- There will be a selection committee that will scrutinise the applications based on merit.
- After which the applicant will be called for presenting his business plan to the selection committee.
- The applicant’s strength, confidence and entrepreneurs skills will be analysed, and the selection committee will take the final decision.
- After the selection process, the applicant has to sign an agreement with NSIC to start working in the incubator.
Incubation Period
The incubation period is kept at a maximum of 12 months due to the shorter life cycles of the products and services. For some of the deserving cases, the lifetime may be extended to a maximum of 6 months in a gap of 3 months each.
Norms for exit criteria
There will be monitoring, and all the incubator occupants should submit a progress report on a monthly basis regarding their activities to NSIC. The review will be taken quarterly to check whether the business plans are executed. Unsuccessful projects will be terminated from the incubator. Within 12 months of time, the occupants should complete their facilities and vacate the incubator.
Incubator Licence
For using the infrastructure of the NSIC, the applicant should pay a monthly fee for a licence to NSIC. In addition to the licence fees, telephone charges, internet charges will also be payable. For using the marketing, accountancy and other legal sources, the applicant has to pay the charge.
How to Apply for Incubation
The application form can be accessed below:
NSIC_ITincubatorformThis form must be filled along with all the business plan along with the marketing and financial sources for carrying on the business and must be sent to the NSIC for further process of scrutinising. The form must be filled with the prescribed guidelines.
Contact Details
- Project Manager–NSIC TBI-Okhla,
- NTSC Premises,
- Okhla Industrial Estate,
- New Delhi–110020
- Phone: 011-26926513
- Email: [email protected]
