UDDYAM–PAHSUI FOUNDATION

Punyashlok Ahilyadevi Holkar Solapur University Incubation Centre

The operational rules of the incubator



  • Criteria for entry

    Proposals will be invited from the potential startups submitted by any citizen including students, alumnae and faculty members. The application will be evaluated based on the criteria such as concept of the proposal, development plans, market potential, uniqueness of product, usefulness to the society, cost, returns, etc. Out of the total selected applicants more than 70% will be selected from the startups proposals submitted by existing students, research scholars, faculty members and recent alumnae of Solapur University and its affiliated colleges. There will not be any deadline for the applicants to submit the application. A committee comprising board of directors will meet once in three months and will evaluate the proposals to look for their suitability. If needed, this committee may recommend for formation of subcommittee to study the proposal in more detail for making decision on suitability of the proposal. Shortlisted proposals will be invited for a presentation. Based on the technical document and presentation, the committee comprising experts in specific domain will either select or reject the proposal. On selection of any proposal, the proposer of the startup will be issued a letter with details of material, equipment, facility to be provided to his/her startup. Such selected startup will be placed under the preincubation stage and necessary facilities will be extended to such startups.


  • Rental Policy

    No rent will be levied to the startups in the preincubation stage. A nominal rent will be charged to the startups for the allocated building space for those who are upgraded from preincubation stage. Other facilities like electricity, water, internet, limited server space, common area, vehicle parking, etc will be provided at free of cost.


  • Exit policy

    A natural exit of startup will be a period of five years for all those who show a steady performance. If the entrepreneur progresses excellently and would like to exit within the five years period, then it will be permitted to do so and incubation centre will reserve some percentage of equity in that startup. If the progress of any startup is not up to the mark during its intermediate evaluation, then based on the recommendations of the committee, the agreement with the startup will be terminated leading to its exit.


  • Establishment of funding arrangement

    The University will provide resources like land and other facilities, man power to look into the activities of incubator and an initial grant for establishing necessary infrastructure through its own resources. University has reserved Rs. 1 crore for this incubation activity under the “Soft Loan” head. It will also generate resources from CSIR, RUSA, MeitY (project worth Rs. 1 crore is in progress) and other funding agencies. For long term sustenance, the incubation centre will have an equity in the startups, which have attained stability in their business. This will generate funds and will help to fund the future startups.


  • Rules for engaging external mentors/ experts

    Shortly the University will frame a committee for incubation policy. The committee will comprise faculty members engaged in the research transformed in to products and external experts, who will generally be industrialists. Regular meetings will be arranged to monitor the progress of startups and provide proper direction for the growth. Experts in specific domain will be invited to organize workshops or to mentor the students, research scholars and faculty.



 

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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