PROCESSES

Applicants may Visit LJ Knowledge Foundation Antrapreneur The Business Incubator to discuss their business ideas. if the business plan is ready, they may also submit the same with LJ Knowledge Foundation Antrapreneur The Business Incubator. The Business Plan could be in form of document of maximum 20 pages or a detailed presentation. This can be submitted in LJ Knowledge Foundation Antrapreneur The Business Incubator or online by Clicking here. LJ Knowledge Foundation Antrapreneur The Business Incubator may invite applicants to (put link) make presentation for internal review purpose. Thereafter, the business proposal for incubation is subject to review by external experts.

If team members consist of a faculty member from LJK, he or she needs to obtain permission from the offices of Dean (R&D) and Dean (Faculty affairs) to be part of the venture.

If a potential venture is based on technology, Intellectual Property (IP) or know-how belonging to or developed in LJK or belong to or developed by full time employees of LJK (Private IP), the inventor (student or faculty member) has to obtain the permission from the office of Dean – R&D for technology transfer or technology licensing in favour of the venture.

Similarly, a faculty who is an inventor of a technology which is a private IP will also initiate a letter to Dean -R & D, LJK indicating his/ her intention to promote/ support a start-up company with the said technology. In the said letter, the inventor will also inform that it is his/ her private IP which he/ she agrees to transfer it to the proposed start up company.

On approval for admission in the LJ Knowledge Foundation Antrapreneur The Business Incubator, LJK will transfer/ license LJK IP in favour of the incubatee company promoted/ supported by the inventor. In case of a Private IP, LJK will give its ‘no objection’ for the said IP for incubation in LJ Knowledge Foundation Antrapreneur The Business Incubator.

If the team includes a pursuing student, he or she will obtain permission from his or her faculty guide and/or head of department for starting a venture and business incubation in LJ Knowledge Foundation Antrapreneur The Business Incubator. A letter from guardian may also be needed. This is to avoid any academic or social conflict vis-a-vis incubatee companies as also with LJ Knowledge Foundation Antrapreneur The Business Incubator.

If the applicant is not a registered company, the applicant will have to register a company within a period of three months from the date of approval for admission in the Business Incubator.

Incubatee company will enter into necessary agreements on the approval of the admission in the Business Incubator.

Incubatee companies will be subject to continual reporting as per the Business incubator policy.