Vjti Technology Business Incubator Program

Veermata Jijabai Technological Institute (VJTI) is inviting applications for its Cohort-3 of the Business Incubation Program. It is designed to help Entrepreneurs and startups working in the domains of energy, cleantech, AI/ML, IoT, electric vehicles, and cybersecurity. The current article briefs Vjti Technology Business Incubator Program.

Note on VJTI

VJTI Technology Business Incubator (VJTI-TBI) is the NIDHI-TBI (National Initiative For Developing And Harnessing Innovations (NIDHI) - Technology Business Incubator (TBI)). established at the Veermata Jijabai Technological Institute (VJTI), Mumbai with the support of the Department of Science and Technology, Govt. of India. VJTI is one of the most prominent engineering institutions in the country. VJTI Technology Business Incubator is now accepting applications from entrepreneurs and startups for its Cohort-3 of the Incubation Program. Entrepreneurs and startups working in the domains of energy, cleantech, AI/ML, IoT, electric vehicles, and cybersecurity are welcome to submit their applications.

Eligible Startup for VJTI-TBI

The following type of startups can apply for the Vjti Technology Business Incubator Program

Accelerator and Incubator
Investor and Mentor
Individual and Corporate
Ideation Stage Startup
Validation Stage Startup
Early Traction Startup
Scaling Stage Startup

Eligibility Criteria for VJTI Incubator Program

The eligibility criteria for startups to participate in the Vjti Technology Business Incubator Program are as follows:

The Applicant for VJTI-TBI Incubation Program must be a start-up working preferably in the following areas:
- Clean-tech
- Energy
- IoT
- Cloud Computing
- Cyber Security of Smart & Critical Infrastructure
The Applicant for VJTI-TBI Incubation Program can be a start-up formed by an individual entrepreneur or group of entrepreneurs incorporated under the following legal entity:
- Private Limited Company (under the Companies Act, 2013)
- One Person Company
- A Registered Partnership Firm (under the Indian Partnership Act, 1932)
- A Limited Liability Partnership (under The Limited Liability Partnership Act, 2008)
- A “Commercial Establishment” in any other form allowed by Government of India laws or as notified in the Official Gazette.
- The incorporated start-up must not be older than 7 years from the date of registration/ company incorporation
- Biotechnology-related startups must not be older than 10 years from the date of registration/ company incorporation.
The incorporated start-up’s annual turnover (as defined in the Companies Act, 2013) in any preceding financial year must not exceed Rs. 5 crores.
The incorporated start-up must not be formed by splitting up or reconstructing, a business already in existence.
The incorporated start-up must be working towards the development of innovative products/ processes/services and must have a scalable business model with a high potential of employment generation or wealth creation.
The startup will be mandatorily required to register with the ‘Start-up India Scheme’ under Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India.
They should obtain ‘Udyog Aadhar Registration’ with the Ministry of Micro Small and Medium Enterprises (MSME), Government of India.

Other Conditions

The Applicant for VJTI-TBI Incubation Program can be a start-up formed by an individual entrepreneur or group of entrepreneurs that have not incorporated under either of the legal entities listed above. In such cases, an application may be made in the names of all promoters/founders of the start-up. However if selected for the Incubation Program, the promoters/founders of the start-up must ensure that their start-up is incorporated under either of the legal entities listed above within three months from the date of signing of the incubation agreement with the VJTI-TBI.

Benefits offered to Startups

Being a government-backed Incubator, VJTI-TBI offers all possible institutional support for start-ups incubated with them

Fiscal Incentives

Financial support will be offered to incubated startups towards procurement of thrust area equipment and consumables, towards attending training programs, workshops, conferences, and trade expos in the relevant areas.

Non-Fiscal Incentives

The startup will get access to thrust area lab infrastructure, tools, and platforms including MatLab, Simulink, SOLIDWORKS, AWS, ZOHO, MyOperator, and more.

Special Incentives

CSR Funds from VJTI-TBI Industry and Corporate Partnerships will be provided

Focus Area

VJTI-TBI Incubation Program is looking to collaborate & work with startups in any of the following themes:

Analytics, Automotive, and AI
Green Technology and Renewable Energy
Technology Hardware and Internet Of Things
IT Services and Non- Renewable Energy
Social Impact and Security Solutions
Robotics

TimeLine of VJTI-TBI Incubation Program

Application Opens	2nd December 2021
Deadline to Apply	31st December 2021
Application Result Date	31st January 2021

Application Procedure

The Application Procedure for VJTI-TBI Incubation Program is explained in detail below:

Access the official webpage of VJTI Technology Business Incubator, from the home page click on the Apply option and then select the “Apply for Incubation”.
On the new page, click on the apply now option, the link will redirect to Startup India.
Login to the portal, the application form will be displayed. Provide all the details in the application form, and submit the form.

Selection Process

All applications received by VJTI-TBI until 5 pm, 31st December 2021 will be considered for the screening process. Screening and selection of applications will take at least 1-2 weeks after closing the application portal.

Applications will be screened based on several parameters apart from eligibility which includes quality of innovation/technology, the potential for IP generation and commercialization, ability to create sustainable ventures and employment, strength and experience of the team, etc.
Shortlisted applicants will be separately notified about the pitch presentation to be made to the Selection Committee. VJTI-TBI will not send any communication to applicants that are not shortlisted/selected
The recommendation of the Selection Committee for the selection of start-ups for Cohort-3 of the Incubation Program will be final and binding. Only selected candidates will be intimated via email.
Incubation at VJTI-TBI will be offered only to those selected applicants who will agree to all terms and conditions under the Incubation Agreement.
VJTI-TBI will not provide any suggestion/explanation concerning the applications that are not selected.

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Frequently Asked Questions

Common questions about VJTI Technology Business Incubator Program, Mumbai.

The VJTI Technology Business Incubator (VJTI-TBI) is a National Initiative for Developing and Harnessing Innovations (NIDHI) - Technology Business Incubator (TBI) established at the Veermata Jijabai Technological Institute (VJTI), Mumbai, with the support of the Department of Science and Technology, Government of India. It is designed to help entrepreneurs and startups working in domains like energy, cleantech, AI/ML, IoT, electric vehicles, and cybersecurity.

Startups working preferably in areas such as clean-tech, energy, IoT, cloud computing, cyber security of smart and critical infrastructure can apply for the VJTI-TBI Incubation Program. The startup should be incorporated as a private limited company, one person company, registered partnership firm, limited liability partnership, or a commercial establishment allowed by the Government of India laws.

The eligibility criteria include that the startup should not be older than 7 years (10 years for biotechnology startups), should have an annual turnover not exceeding Rs. 5 crores, should not be formed by splitting up or reconstructing an existing business, and should be working towards developing innovative products/processes/services with a scalable business model.

Startups incubated at VJTI-TBI can avail fiscal incentives like financial support for equipment, consumables, training programs, and events. They also get access to lab infrastructure, tools, and platforms like MatLab, Simulink, SOLIDWORKS, AWS, ZOHO, and more. Additionally, they can benefit from CSR funds and industry partnerships.

The VJTI-TBI Incubation Program is looking to collaborate with startups in areas such as analytics, automotive, AI, green technology, renewable energy, hardware, Internet of Things, IT services, non-renewable energy, social impact, security solutions, and robotics.

The application window for the VJTI-TBI Incubation Program opens on December 2, 2021, and the deadline to apply is December 31, 2021. The application results are expected to be announced by January 31, 2022.

To apply for the VJTI-TBI Incubation Program, you need to access the official webpage of VJTI Technology Business Incubator, click on the "Apply" option, and then select "Apply for Incubation." This will redirect you to the Startup India portal, where you can log in and fill out the application form.

Applications received by VJTI-TBI are screened based on parameters like the quality of innovation/technology, potential for IP generation and commercialization, ability to create sustainable ventures and employment, team strength and experience, etc. Shortlisted applicants will be notified for a pitch presentation to the Selection Committee, whose recommendation will be final and binding.

Yes, startups formed by individual entrepreneurs or groups that have not incorporated under any legal entity can apply for the VJTI-TBI Incubation Program. However, if selected, they must ensure that their startup is incorporated under one of the eligible legal entities within three months of signing the incubation agreement.

VJTI-TBI does not provide any explanation or suggestions concerning applications that are not selected for the Incubation Program. Only the selected candidates will be intimated via email, and incubation will be offered to those who agree to all terms and conditions under the Incubation Agreement.