Startup India

November 2016 \ Diaspora News \ SPECIAL COLUMN ON LAW & DIPLOMACY

The Government of India has announced ‘Startup India’...

By Mr K K Anand

#	Parameter	Benchmark
1	Number of years of establishment	The Incubator should be in existence for at least the last 2 years. This benchmark of existence for at least 2 year shall not be applicable for incubators which have received a sanction letter*1 by the Central/State Government
2A 2B	Number of incubatees currently enrolled Number of incubatees graduated	The incubator should have a minimum of 20 incubates graduated2 or on rolls at present i.e. at the time of filling of application. For incubators which have received a sanction letter1 by the Central/State Government a minimum of 5 incubatees should have graduated*2 or on rolls at present i.e. at the time of filling of application
3	Availability of Infrastructure	The incubator should have a minimum of 5000 sq. feet of carpet are a dedicated to the incubatees
4	Contact period of engagement	The incubator should facilitate at least 3 months of in person or virtual interactions between its incubatees and mentors

The certificate of recognition shall be valid for a definite period of time which would be two (2) years from the date of grant of recognition. In case, an incubator fails to justify its roles and responsibilities or if found to be misrepresenting any information, the recognition status of the incubator shall be revoked, However, previous recommendations from the incubator to the Startups shall still remain valid.

A recognized incubator shall be evaluated on the following parameters after six months of obtaining the certificate of recognition. The certificate of recognition shall be reconsidered in case the recognized incubator is found wanting on fulfillment of the following stated parameters (Table 2):

#	Parameter
1	Incubator engagement with Venture Capital Funds/Alternate Investment Funds For the purpose of this parameter, the number of tie-ups between the Incubator and Venture Capital Fund and Alternate Investment Fund shall be considered.
2	Incubator engagement with Corporates For the purpose of this parameter, the number of tie-ups between the Incubator and Corporate Organizations to provide industry exposure to the Incubatees shall be considered.
3	Number of mentors associated with the Incubator For the purpose of this parameter, the number of mentors providing in person or virtual mentorship to the Incubatees shall be considered.
4	Number of outreach programmes*3 conducted by the Incubator For the purpose of this parameter, the number of outreach programmes conducted in the previous one year shall be considered.