Incubators

Incubators

Partners in progress

  • One-Time Capital Grant of 50% of the capital cost (excluding the cost of building) up to a maximum of Rs.1 crore, which may be given to an approved incubator to set up or scale up incubation facility
  • In case, a university recognised under the Central/ State Act is able to raise funding for development of its incubation infrastructure, the Startup Council may consider providing a matching grant subject to an upper limit of Rs.5 crore on case-to-case basis. Such grant from the government shall only be used for development of incubation infrastructure including purchase of equipment for the incubation facility
  • Reimbursement of Utility Expenseof Rs.1 lakh per year for a period of 3 years, which may be provided to an approved incubator for providing free internet, free electricity and free mentoring services to the incubatees. This benefit will not be available to virtual incubators
  • Performance capital grant of Rs.5 lakhs, which may be given to an approved incubator for its each successful Startup incubated at least for a minimum period of 3 months
  • Existing / Aspiring incubator may register by filling Incubator Registration Form with Startup Odisha initiative
  • Startup Secretariat will collate all such applications and will present them with its recommendation to the Task Force for final consideration and approval
  • Task force will consider these applications once in a month and decide
  • Result will be published online and also emailed to the concerned Incubator
  • An approved incubator may apply online for monetary benefit as applicable, with Startup Odisha initiative
  • Incubator shall provide proof of capital investment made as ‘own contribution’ for availing one-time capital grant
  • In case a university is able to raise funding for development of its incubation facility, proof of such funding shall be provided for availing the matching grant
  • Startup Secretariat will collate all such applications, undertake due diligence of such applications and requisite documents and will present them with its recommendation to the Task Force / Startup Council for final consideration and approval. Result will be published online and also emailed to the concerned Incubator
  • Once approved by the Task Force / Startup Council, the existing / aspiring incubator will receive the monetary benefit directly in its bank account
One-Time Capital Grant:
  • Aspiring / Existing incubators established in a University / Educational Institute will be eligible for one time grant of 50% of capital cost (excluding the cost of building) up to a maximum of Rs. 1.0 crore to set up / scale up an Incubator Facility
  • However, Aspiring / Existing incubator should dedicate a minimum of 5,000 sq. feet of carpet area to the incubatees
  • In case, a university recognised under the Central/State Act is able to raise funding for development of its incubation infrastructure, the Startup Council may consider providing a matching grant subject to an upper limit of Rs.5 crore on case-to-case basis
  • Such grant from the govt. shall only be used for development of incubator infrastructure including purchase of equipment for the incubation facility
Reimbursement of utility Expenses:
  • Applying body should be an approved Incubator
  • Applicable only for an incubator having physical infrastructure in place
  • Applicable only if incubator is providing free internet, free electricity and free mentoring services to the incubatees
Performance capital grant
  • Applying body should be an existing approved Incubator
  • Applicable, only if the successful startup is incubated for at least three months at the approved incubator
One-Time Capital Grant:
  • The approved aspiring/ existing incubator will submit online application for Monetary Grant to the Startup Secretariat and upload requisite documents for due diligence
  • The grant may be disbursed in a phased manner as per the budget/ utilisation plan submitted by the incubator and approved by the Startup Council
  • The grant may be disbursed in proportion to the funds brought in by the approved incubator, as mentioned in their budget plan and approved by the Startup Council
Reimbursement of Utility Expense:
  • One-time payment of utility expenses limiting to Rs. 1 lakh per year for a maximum period of 3 years may be made directly to the approved existing incubator in its registered bank account
  • The incubator must submit bills for the expenses while availing the grant and submit utilization certificate within 3 months of the release of the grant
Performance capital grant
  • One-time payment may be made directly to the approved incubator in its registered bank account
  • The approved incubator will submit a list of the successful incubatees incubated at least for a period of three months
*The forms for claiming monetary benefits will be visible to recognized incubator’s on their Startup Odisha Dashboard post recognition