The incubatees shall be selected through a procedure and based on the recommendations of the experts. Each incubating companies shall be liable to utilise free physical space as per the project size and suggestions of the expert for the duration of 3 months to a maximum of 2(two) years with regular evaluation and renewal to ensure the growth of the incubating company. The mentoring will be charged at a nominally after 6(six) months from the date of enrolment, as per the terms and conditions, on a case by case basis.
Any amount between Rs. 50000/- (Fifty thousand) to 500000/-(Five lakh) shall be given to incubatee based on their business plan and recommendations from the expert and board (VIBA management).
This lab facility is to strengthen the research and development activity of the incubatees to develop prototype/ product. The incubatees initial prototyping for first 3(three) months is free, further prototyping efforts are charged beyond aforementioned period.
Each of the services viz pool connect, idea crowning, space and infrastructure, manifesting labs and mentoring shall be free of cost during the first 6 months. Any incubatee shall be liable to pay nominal cost/ amount after elapse of initial freebee period of 6 months. VIBA management shall decide the amount payable by any incubatee and the term of reference for incubating startup/ enterprise/ Company/ business.
In the initial stage, VIBA supports the following domains:
Agri-Tech, Health Care,
AI / Machine Learning,
with an inclination to work with emerging and other potential avenues too.