Provide an environment to create successful entrepreneurs.
PIBS will create an ecosystem that will foster and support innovation based entrepreneurship amongst PIBS community leading to wealth creation and societal value.
PIBS manages a Business incubator at Pune University. The incubator is a platform to support startups founded by PIBS community. Thus, PIBS facilitates conversion of R&D into entrepreneurial ventures. PIBS can incubate 5-10 companies at a time.
- Pre-incubate, incubate and virtually incubate early stage ventures.
- Create physical infrastructure and support systems necessary for business incubation activities.
- Facilitate networking with professional resources, including mentors, experts, investors, industry professionals, consultants and advisors.
- Identify innovations which have potential for commercial ventures.
- Promote and foster the spirit of entrepreneurship, and generally to carry out activities that facilitate knowledge creation, innovation and entrepreneurship activities.
We maintain and grow a support system for knowledge-based startups founded by PIBS community. Admission in the incubator is subject to business plan review process. Maximum incubation support is for three years. On completion of three years, incubatees have to exit the incubator.
The following points describe our incubation programme.
A team which consists of at least one member from PIBS community who could be
+ PIBS students
+ Permanent Staff
+ Research Partner Institute
Applicants have to submit business plan to PIBSIIC. Admission to the business incubator is based on evaluation of business plan carried out by external reviewers with relevant expertise.
An incubatee company can stay in the incubator for a maximum of three years. Pre-incubatees can remain so till they achieve certain business milestones.
Yes. A team may approach for incubation without being a registered company but once incubated, all incubatees have to be registered as a private limited company within 3 months of incubation.
Incubatees have to exit PIBSIIC on completion of three years’ term or if the companies do not perform during the incubation period.
Incubatees get physical infrastructure and business support. During pre-incubation, potential entrepreneurs also get office space, assistance in preparation of business plan, and business advisory support. Virtual incubatees get advantage of business support from PIBSIIC.
Companies have to pay consideration for incubation which is combination of subsidized rent, small equity and revenue share.