About JITO Incubation centre

What is Business Incubation Centre?

A business incubator is a company that helps new and startup companies to develop by providing value added services to startups like incubation, mentoring, legal, administrative assistance, secretarial services, accounting services, technical intellectual property related services and to have tie up with the entities having similar objectives. Business incubators act as a catalyst tool for either regional or national economic development.

JIIF is developing Incubation centers across 6 metros and shall tie with other at other locations. JIIF will provide:

  • Physical space
  • Networking
  • Support services
  • Funding & Exit options

JIIF Incubation Centre highlights:

  • Vision : To create 50 companies of minimum valuation of 100 Crores each in next 5 years 
  • To set 6 incubation centre in each metro in 2 Years 
  • Priority : Mumbai, Bengaluru, Delhi-NCR 
  • Tie up with Incubation centers running in capital cities other than Metros 
  • Facilities on offer such as office space, HR, Compliance, IT, Audit, back office and admin support etc. to set up business
  • Will create an eco system with mentors like Vinod Dham, Motilal Oswal, Vallabh Bhansali, Girish Matrabhootam and the likes.

FAQs for JITO Incubation centre (JIC):

Q1.What are the eligibility criteria to apply for JITO Incubation Centre?

    Any early stage startup who has a Jain Partner and in the space of Technology is eligible.

Q2.Is there any restriction on Industry/Sector/Product?

Following restrictions apply to the sector/Industry/product: Any industry involved in or serving or facilitating directly or indirectly in any form:

  • Liquor or alcohol or any form of intoxication promoting product
  • Non vegetarian food or any other that is derived from violence of any form
  • Injurious to health like tobacco, drug, etc
  • Weapons or products destructive in nature
  • Gambling
  • Forbidden by law

Q3.Can a Start-up apply for Virtual Incubation?

Yes.

Q4. What is the duration of the Incubation program?

Incubatees are given a period of 6 months, post which the Incubator takes a call to support the start-up further and extend to another 3-6 months or end association.

Q5. How many seats are available per Start-up?

In the standard package with stake, 3 seats are included and from 4th seat onwards, each seat is chargeable @ INR 3600 +taxes with a capping of 10 seats per Startup. Exceptions shall be subject to discussion.

Q6. What are the timings of the Incubation centre?

To begin with, we shall keep the Incubation centre open 6 days a week Mon-Sat from 8:30am- 8:30pm. Exceptions shall be subject to discussion.

Q7. What facilities and services are available?

Free Credit services from our various partners Like Amazon Web services, IBN, Digital Ocean, MSG91, and many more

A state of the Art Incubation Space to work from with all facilities like Wifi, Video-conferencing, Meeting & Training rooms, Lounge, Cafeteria, etc

A hand-holding Incubation program to help Incubatee to evolve as a successful Entrepreneur Networking with strategic Industrialists and Mentors Support services like Legal, Accounts, HR, Admin, etc. Funding opportunities

Q8. Will the Incubation centre also invest in the Incubatees?

The Incubation centre may decide to invest as well in selective Incubatees ranging from 5 – 25 Lakhs against a corresponding stake.

Also basis the progress of the Incubatee during the Incubation period, JIC may provide an opportunity to the Incubated companies to pitch for funding in JITO Angel network forum for further investment. At this stage, the Incubator can decide to retain their 5% or dilute partly or fully as decided by the investment committee at that point in time.

Q9. What does the Incubation Charge?

The Incubation centre is a not-for profit initiative and aims to utilize any charges to self sustain and Incubate more needy start-ups in future. Hence, JIC partners in the success path of the Incubatee with 5% stake eligible to be diluted on the Start-up raising funding in due course

Q10. Can the Incubatee quote the address of Incubation centre during his Incubation period for communications?

Yes during the Incubation period, JIC can serve as communication address and the same needs to be changed immediately on exit from the same

Q11. Do the Incubatee need to be the same throughout the Incubation period?

The access cards shall be issued to pre-registered Incubatees and any additions needs to be notified and pre-approved by JIIF Secretariat.