Intellectual Property (IP) can be a patent, software code, copyright, design registration, developed product, or alike. IP for incubation purpose will be assessed based on the following details:
Whether any seed grant (from public or private sources) has been used in developing the technology which will go into the product(s) of the proposed company.
If yes, details of the understanding with the funding agency in terms of sharing of the IP.
Whether any person other than the applicants has worked on the technology and if their work will be incorporated in the product(s). If yes, whether such other person has a right in IP ownership.
If the IP is developed at HOST INSTITUTION, whether any HOST INSTITUTION infrastructure (hardware, testing setup, instrumentation, computing resources, processes) of the HOST INSTITUTION has been used in developing the technology that will go into the product(s). If the IP is developed at HOST INSTITUTION, whether any consultancy projects were executed in the proposed area. A statement from the owners/ innovators/ creators of IP to the effect that they are the owners/ innovators/ creators of IP as the case may be.
Applicants, who are current faculty or students of HOST INSTITUTION, aspiring for incubation shall first approach HOST INSTITUTION for transfer of / licensing of/ permission to use IP in favour of prospective incubatee companies. They will initiate a letter to Dean R&D, HOST INSTITUTION and GEU requesting the transfer of HOST INSTITUTION IP in favour of a startup company in the Business Incubator intended to be promoted/ supported by the inventor.
GEU may provide seed loan subject to the availability of funds/ grants/ schemes meant for this purpose. Seed loan will be sanctioned only to the registered companies and shall be based on merits of each company. Promoters/ founders whose companies are not registered at the time of application shall not be eligible to apply for seed loan until their companies are incorporated. Further, admission to GEUTBI shall not automatically entitle the companies to seed loan.
A company desirous of getting seed loan may submit an application for seed fund on admission in GEUTBI. Sanction of seed loan will be decided based on the eligibility criteria as decided by GEU. It would be also subject to the terms stipulated under specific grant or scheme as the case may be. Though seed loan may be sanctioned, disbursement shall be linked to the milestones. One of the criteria for approval of the seed loan will be to help the company reach a level of maturity in terms of product development or gotomarket stage. Preference will be given to companies with strong commitment and contribution from their promoters. GEU will have sole discretion to sanction or reject an application for seed loan and the decision of GEU in this regard shall be final. GEU is not bound to give any reason in case an application for seed loan is rejected.