The Startup Incubation and Innovation Centre (SIIC) offers a whole gamut of incubation facilities and services to prospective entrepreneurs and innovators to convert their innovative ideas into commercially viable products. SIIC incubates ventures in technology, engineering and other interdisciplinary areas. The regular events like entrepreneurial talk series, workshops and seminars have offered SIIC a good interface and visibility in the region.
Since its inception in 2003, the centre has grown tremendously and has emerged as a prestigious incubator in India (won the National Award for Technology Business Incubators for the year 2011).
Note : This is not any investment scheme, but technology incubation support scheme to enable and guide startups and innovators.
Eligibility Criteria for Incubation @SIIC
- Any startup, registered in India, developing technology-enabled solution, fulfilling the following criteria, can apply.
- If it’s turnover for any of the financial years has not exceeded INR 1 crore
- Is working towards innovation, development, deployment or commercialization of new products, process or services driven technology or intellectual property
Terms and Conditions for incubating with SIIC
- For incubation, we don’t ask for any upfront rental/ service charges.
- We operate on an equity share model where the startup is required to offer up to 3% equity depending on the type of incubation (physical or virtual). The equity is negotiable and is decided by the incubation committee.
- Startups incubated at SIIC can access coworking space or an office in the IIT Kanpur campus on a rental basis.
- Office space is available at INR 8 / sq. ft. for the first 24 months (up to 200 sq. ft.).
- Startup may also apply for the additional office space at INR 20 / sq. ft.
- Startup may apply for an extension of the office/coworking space at INR 30 / sq. ft.