UDDYAM–PAHSUI FOUNDATION

Punyashlok Ahilyadevi Holkar Solapur University Incubation Centre

Following table shows the budget plan for the Uddyam – Solapur University Incubation Centre. 50% of the total budget is reserved for the soft loan and about 17% of the budget is reserved for seed money. University will reserve Rs. 1 Crore towards Soft Loan component of this incubation centre. The detailed description of account head, amount allocated, purpose of this head and its utilization are described in the following section.


Sr.No. Budget Head Year-wise breakup (Rupees in Lakhs) Total
18-19 19-20 20-21 21-22 22-23
1. Soft loan 50 150 50 30 20 300
2. Seed money* 20 20 20 20 20 100
3. Infrastructure facilities (Furniture and Fixtures, LCD Projector, CC TV Network, Internet facility, RO plant, etc) 30 30 10 - - 70
4. High end Server 10 - - - - 10
5. Computers, Printers, etc 5 7 3 2 - 17
6. Training and workshop 2 3 2 1.50 1.50 10
7. Travelling 4 4 4 4 4 20
8. Contingency expenses 4 4 4 4 4 20
9. IP Consultancy Expenses 0.5 1.0 1.5 2 2 7
10. Miscellaneous Expenses 4 4 4 4 4 20
11. Audit Expenses 1 1 1 1 1 5
12. Manpower
(i) Incubation centre manager (Rs. 25,000 pm) 3 3 3 3 3 15
(ii) Office Assistant (Rs. 10,000 pm) 1.20 1.20 1.20 1.20 1.20 6
Grand Total 17.70 230.20 104.70 73.70 61.70 600

* 70% of the seed money will be reserved for startups initiated by students and alumnae passed out recently (within last three years)


1.Soft Loan: The loan will be provided from this budget head to the needy startups to meet their initial operational expensed such as salaries for their employees, purchase of any specific equipment, etc. A nominal interest of 4% will be charged to the incubates, who avail this loan. It must be refunded by the incubate within a period of 3 – 5 years’ timeframe. To avail this loan the incubate has to submit an application clearly specifying the purpose of its utilization and plan of its refund. Such applications will be placed in the meeting of board of directors. The board will look into the merits of proposal for soft loan and may approve/disapprove or partially approve (approval for partial amount) the application for loan. If approved, then the amount will be disbursed to the incubate for the amount approved.

2. Seed money: Seed money is the grant which will not be recoverable. Rs. 1 Crore is reserved in the entire budget for this grant. The seed money will be provided to incubates, specifically to those who are not capable to purchase very essential equipment for their startup. As in case of soft load, the needy startup has to submit an application requesting for seed money with complete details of materials to be procured using this fund. The board of directors, in consultation with experts, if needed, will decide on sanctioning this grant. In any case this seed money should not exceed Rs. 5 Lakhs per startup.

3.Infrastructure facilities: The University has already identified built-up space for the startups in five schools within the University campus. These startups need basic infrastructure facilities such as tables, chairs, other furniture, meeting room facilities, RO water plant, electrification, fans, lights, etc. Rs. 70 Lakhs has been allocated towards this head. These facilities will be procured/setup as and when need arises.

4. High end Server: Most of the IT startups may need server to host their data. The University is also in need of its own server to provide server space for different departments like incubation centre website, its own website, seb space for different online applications, research and development requirements of school, etc. Currently University is independently hiring these web spaces from different vendors independently. A dedicated server will solve complete need of University as well as the incubation centre including startups. This server may be setup in University instrumentation centre where 24 hours cooling is maintained for its equipment.

5. *Computers, Printers, etc: For the general purpose, computers and shared printers will be procured under this head. These equipment will be for both incubation centre and for startups. Total budget reserved for this purpose is Rs. 17 Lakhs.

6. Training and workshop: The new entrepreneurs will need regular training on many concepts like business, technologies, IPR, accounts, etc. The incubation centre need to organize regular trainings, workshops, etc on these topics at regular basis by experts in specific field. For organizing these training and workshop Rs. 10 Lakhs is reserved under this account head.

7. Travelling: The incubation centre officials and directors need to travel for works related to the incubation centre. For this purpose, Rs. 20 Lakhs is allocated under the traveling budget head.

8. Contingency expenses: The incubation centre as well as the startups will need consumables for their regular operations. Rs. 20 Lakhs has been reserved for this budget head.

9. IP Consultancy Expenses: Every startup will work extensively to register their ideas in the form of patents. The drafting of patent and filling require expert services. As and when there is need the experts will be hired and all IP filling expenses will be spent from this account head. In such case the University/incubation centre will also have certain stake in the IP rights. The funds reserved for this head is Rs. 7 Lakhs.

10. Miscellaneous Expenses: Any other minor miscellaneous expenses incurred during functioning of incubation centre would be spent from this account head. Rs. 20 Lakhs is reserved for this account head.

11. Audit Expenses: The incubation centre and all the startups need annual auditing and regular filing of income tax, GST and any other taxes. An auditor will be appointed to take care of all these activities of incubation centre and startups. The funds reserved for this account head is Rs. 5 Lakhs.

12. Manpower: For day to day smooth conduct of incubation centre activities there is need of appointing a manager and an office assistant. The manager will look after the entire official communications and all the documentation, including monitoring of progress by the startups. He/she will be responsible for preparation of regular reports to be submitted to the higher authorities. Apart from manager an office assistant will also be required for upkeeping of building space and serving for regular needs of incubation centre and startups. Both of these positions will be on hiring basis for certain contractual period. The total funds reserved for both of these positions is Rs. 21 Lakhs.

 

Dr. Mrunalini Fadnavis

Vice Chancellor
Punyashlok Ahilyadevi Holkar
Solapur University,
Solapur

Director
Innovation,Incubation And Linkage
Punyashlok Ahilyadevi Holkar
Solapur University, Solapur

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