Membership Criteria
A panel of eminent technocrats consisting of experienced and qualified professionals from dairy industry, leading bankers, seasoned venture capitalists and academicians of repute will process the applications of potential entrepreneurs for membership in TBI. The panel will select the ventures for incubation after carefully evaluating the business idea, capability for business viability & growth prospects, market availability, potential value of the technology, innovative content and promoter team. The expert committee will assess this through personal interview, review of past activities, background check, references etc.
Who are covered?
Any innovative Indian- a student, dairy/food technologist, engineer, scientist, retired scientist, unemployed youth/housewife, etc., can be member of the TBI. The individual must have an innovative idea/project, which has the potential of commercial utility and/or societal absorption. The TBI is conducting counseling sessions every Saturday for the young innovators.
How to Join ?
Join us if you have a viable project idea having high technology content covered under thrust areas which requires incubation facilities. The Application form to become a member of TBI and Format to submit business plan can be obtained from TBI office or downloaded from the site.
Selection Process
(i) Submission of complete application package:
a. Duly filled in application form with business plan. (In the absence of a proper business plan, the request for membership will be accepted provisionally if business proposal looks promising prima-facie to the expert panel. The TBI can help development of a business plan under pre-incubation programme).
b. Entrepreneur’s tax returns for prior three years if applicable.
c. Details of company’s corporate structure, bylaws, ownership, etc.
(ii) Evaluation of the application by expert committee using following criteria:
a. Merit of the business proposal
b. Background and experience of the entrepreneur
c. Financial viability
d. Status of the business plan, market research and feasibility studies
e. Growth potential
f. Applicant’s commitment-both financial and personal time-to the venture
g. Business references
h. Make up of the management team
i. Source of technology and to what extent is the entrepreneur developing technology, or using technology for a unique business purpose.
j. How effectively does the entrepreneur demonstrate an understanding of the environment facing the venture in its target markets, and a reasonable strategy to achieve stability and growth?
k.How clear is the entrepreneur’s need for the types of services that the incubator offers?
l. Market knowledge and experience (market definition, markets serviced, competition, SWOT analysis etc.)
(iii) Presentation of the business plan by the entrepreneur to the expert committee.
(iv) Interview with expert panel.
(v) Decision by expert panel.
Post Admission Process
Once the decision is made to admit the entrepreneur to the incubation programme of TBI, the following activities are undertaken:
a. Negotiation of terms
b. Execution of agreement between TBI and the entrepreneur.
c. Jointly set short-term & long term objectives for the venture’s performance.
d. Develop a written plan of work for the venture.
e. Set up the venture’s financial management and budgeting systems.
f. Identify mentors, consultants, service providers or resource centres to assist the entrepreneur in achieving his goals.
g. Start of venture
Graduation
The venture shall graduate from the incubation programme when any one of the following conditions is fulfilled.
i) The expiry of the period specified in the license agreement is over unless it is extended by the competent authority.
ii) The revenue stream of the company is adequate for self-sustenance.
iii) The entrepreneurs have been able to tie up investors to finance the expansion plans of the venture and the incubator support is no longer necessary.
If any of the above events takes place the venture will be treated as graduated from incubation programme and the membership in the incubator will be discontinued.
Review of Progress
The performance of each company is reviewed twice in a year by the expert committee set up for this purpose who evaluates the progress of the company against its objectives. The quality and impact of the business assistance provided by the TBI and any further assistance in the form of mentors, consultants, service providers or resource centres required by the entrepreneur is identified during this review. In case the progress is not as per plan, the entrepreneur has to submit a formal application to the expert committee highlighting all factors responsible for the delays in the plan and the strategies to be adopted by the venture in overcoming the problems faced by the company.
Tenure of Incubation Programme
The Tenure of license to operate in the incubator program shall be for a term of 18 months. An extension of one more term of 18 months shall be considered on a case-by-case basis based on the recommendation of the expert committee. These entrepreneurs shall move out of incubator at the end of the license period whether they have graduated or not.