Incubation :: Virtual Incubation

For virtual incubation, the startup is required to register with NDBI but operate from their own space away from NDBI. Virtual incubatees are not eligible for service tax exemption.

Incubation cycle

Incubation cycle involves the following broad steps:

> Application for incubation
> Selection of incubatees
> Signing of Memorandum of understanding with incubatees
> Providing access to networks and services to selected incubatees
> Formation of an enterprise, business plan, market research, consultancy,
   legal, finance and other support
> Periodic assessment of the incubatee
> Graduation of the incubatee

Facility

These among others include:

> Access to conferencing facility.
> Network by which one could access specialists and research labs to develop or
   to improve the innovative technology including research, testing facilities, materials,    prototyping, design, etc.
> IPR consultants for help in registering patent, copyright and trademarks.
> Legal experts for firm incorporation, venture capitalist, faculty mentoring, help in    preparing business plan for the incubatee product/design, access to conferencing    facility, library, photocopying machine, mess/canteen, etc.

Infrastructure

The infrastructural facilities available to physical incubatees are also available for virtual incubatees.

Incubation period in NDBI

Virtual Incubatees will be permitted to stay in NDBI for a period of 18 months, same as in the case of physical incubatee. NDBI holds indisputable right to decide on giving further extension of 6 months or more depending on the case concerned.

Registration Fee

To register as virtual incubatee, the company has to pay a onetime registration fee of Rs. 10,000.