" Develop an institutional mechanism to create entrepreneurial culture in academic institutions to foster growth of innovation and entrepreneurship amongst the faculty and students and to provide quality professional services in Research, Entrepreneurial development and Innovation. "
Trivandrum - 695 581
Telephone: + 91 471 2700777
Selection Process for Students and New Entrepreneurs
Students/Entrepreneurs shall apply online , along with the proposal / technology concept. The proposal shall consist of Title of the proposal, Brief Description of the Product/Services/Technology business you plan to incubate, its objective, market potentials and marketing strategy, value addition of the work, skills/technology required, milestones to be achieved in each quarter, Details of company registration, if already registered etc. The proposal will be evaluated by an expert committee consists of four or five members, including technical/domain experts, financial expert, one member from TBI, Technopark. The shortlisted parties will be called for a presentation, and based on the approval of the committee, the final selection will be done. This is applicable to both students and potential young entrepreneurs. Technopark, TBI will act as the nodal TBI and will also provide guidance to the selected students. If there are gaps found in the business proposal, it can be considered with revision. With necessary updation, one more chance will be given for re-submission for consideration.
For Scheme III, Industry may submit the form by showing the expression of Interest. After further interaction, Institute will enter into a collaboration with interested Industry by signing an MOU. The responsibilities, terms and conditions will be worked out separately.
The submission and process involved:
(1) Apply online by clicking the Apply on the menu to submit the application along with proposal.
(2) The proposal will be evaluated by the Committee
(3) The shortlisted candidate will be called for a presentation.
(4) Based on the approval by the committee, the final selection will be done.
Funding Mechanism & Financial Guidelines
CITI will provide limited financial assistance to the new Entrepreneurs for a maximum of three members in a team. It is the responsibility of team members to earn more money with the entreprenourial spirit for their sustanability. There are schemes from Department of Science and Technology(DST) and Department of Electronics and Information Technology (DEITY), Government of India to promote and launch Technology Incubation and Entrepreneurship programmes. The incubators can apply for such schemes directly or with the support of CITI to get more finanacial support. The financial and technical support from NASSCOM, CII, CSI may also be explored. Institute will provide space, office equipments, internet etc in free of cost. Other than the facilities, mentoring , training and technology support will be given. There will a thorough review by the committee in each quarter and based on the recommendations, grant will be sanctioned as per institute/CITI norms on entrepreneurship.
Period of Entrepreneurship
The period of student Entrepreneurship is the duration of the course. However, they can opt for scheme II and continue for one more year if the committee approves. For new entrepreneurs, the period of stay is two years. However, the financial assistance is guaranteed only for one year and may continue for one more year, if the ventures became self - sustained or institute receives any grant in this regard. For Industry collaboration, the period will be defined in MOU.
Intellectual Property Rights, Copy Rights and Patents
CITI and Entrepreneur/Student will have the joint ownership of the Intellectual Property/Invention/Software generated out of the research during the incubation period. Therefore the Patent/Copyright on the invention/software shall be jointly owned by CITI and Entrepreneur/Student. Entrepreneur/Student will have the sole ownership of Trademarks, Designs etc.
Protection of Patent/Copyright will be the responsibility of CITI. However, the protection of Trademarks, Designs, etc. shall be the responsibility of Entrepreneur/Student.
The expenses involved for obtaining and maintaining the Patent/Copyright in India and abroad will be borne by CITI. The expenses involved for obtaining and maintaining the Trademarks, Designs, etc. in India and abroad shall be borne by Entrepreneur/Student.
Entrepreneur/Student will have the first right for commercial exploitation of intellectual property/software and/or knowledge base. In the event Entrepreneur/student fails to exercise the option or fails to commercially exploit the intellectual property/software within a period of 48 months, CITI will have the right to license the Patent/Copyright to others on terms to be mutually decided between Entrepreneur/Student and CITI.
Licensing of Patents/Copyrights will be as per guidelines laid down by CITI and according to the terms and conditions agreed upon by further negotiations with the Licensee.