SCEI Incubation Program:
Incubatee startups undergoing this program are offered a buffet of facilities to help them grow their business from the stage of idea/prototype to a pre-scale level. In parallel, their business model and performance is tuned to project well to investors for scaling. At appropriate times, investors are brought in to evaluate curated startups and work out an investment deal with them. Here’s the menu on the buffet:
SCEI works with its incubatees to build up a solid business plan, which can then be presented to funding agencies. SCEI brings forth at the appropriate time, funding parties from its network (including HNI, family portfolios, Angel Networks and Government Agencies), to witness presentations by curated incubatees and fund them with equity investments at a good valuations.
SCEI offers deep guidance and collaboration through its network of technology, domain and business mentors (alumni, corporate managers, earlier generation entrepreneurs, business partners). SCEI coaches incubatee-startups to move up the startup business ladder: product validation, market validation, initial scaling, funding and pivoting as required.
The Symbiosis Innovation Laboratory, equipped with state-of-the-art machinery (eg. 3-d printers, 3D-CMMs, Laser-cutters, LIDARs, RFID, chromatographs, spectrometers, medical electronics and devices, sensor-technologies and other such) is available to incubatee startups for prototyping and research.
SCEI provides incubatees, at a reduced charge, through its network of professionals and faculty experts, commercial support like Statutory CA services, ROC (and other CS) compliance services and. Accounting services are offered by SCEI free of any charge.
SCEI, through its network of corporate partners, offers mentoring and use of the corporate marketing establishments, for live-testing the product and marketing it.
SCEI provides its incubatees and their employees with creature comforts including AC operating space (table/cabin), shared meeting rooms, high-speed wifi, transport to and from campus, tea/coffee, etc. Incubatees are given free registrations to most events conducted by SCEI. Facilities for employees (like space, transport and tea/coffee) would be charged extra as per ruling policy.
SCEI believes that cash is a scarce resource for startups and hence takes a small share of equity in the startup (typically 1000 shares) and a nominal charge of Rs. 5000 per month till external (non-promoter) funding (debt/equity) reaches Rs. 25 lakhs. After that cash-level, the fee would be Rs. 30,000 p.m.
Calls are given periodically in various outreach media for start-ups to apply for participating in the incubation program at SCEI. Startups interested in being incubated at SCEI can send their applications to firstname.lastname@example.org and it would be considered in the next cohort intake. Candidates pitch to a panel comprising of startup founders, investors, mentors, business professors and SCEI staff. The primary criteria for selection are scalability of business, competitive strength of delivery mechanisms and dedication of founders.