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Eligibility Criteria for Application to AIC-SMUTBI Foundation

Entrepreneurs and Start-ups interested in applying for incubation at AIC-SMU Technology Business Incubation Foundation will be considered if they full fill the following conditions:

  1. Entrepreneurs/Start-ups may be an individual or group of individuals working towards development of innovative products/ processes/ services and must have a scalable business model with a high potential of employment generation or wealth creation.
  2. Entrepreneurs/Start-ups should be registered either one of the following business entity:
    • Private Limited Company (under The Companies Act, 2013);
    • One Person Company (OPC);
    • 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.
  3. Entrepreneurs/Start-ups with no legal registration may be considered for incubation provided the application is submitted in the names of all promoters/founders. Also the promoters/founders must ensure that the Start-up is registered under either form of business entity listed above, within a period of One Year from the start date of incubation at AIC-SMU TECHNOLOGY BUSINESS INCUBATION FOUNDATION.
  4. The registered Start-up should also be compliant to the following:
    • Must not be older than 7 years from the date of registration/ company incorporation (Biotechnology-related Start-ups must not be older than 10 years from the date of registration/ company incorporation).
    • Its annual turnover (as defined in the Companies Act, 2013) in any preceding financial year must not exceed INR. 25 Crore.
    • Must not be formed by splitting up, or reconstruction, of a business already in existence.
    • Must be working towards development of innovative products/ processes/services and must have a scalable business model with a high potential of employment generation or wealth creation.

Selection Process

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