NEC - Start-up policy
“National Engineering College
(NEC) is committed to facilitate and create
the technology entrepreneurs from the students
of various disciplines of our institution who
are coming out with innovative and viable business
ideas / products, by providing them the facilities
and mentorship assistance related to business
such as marketing, technical and financial
Since startup companies lack many resources,
experience and networks, ED Cell provide services
which help them to get through initial hurdles
in starting up a business. These hurdles include
space, funding, legal, accounting, computer services
and other prerequisites to run the business.
Based on the policy guidelines, a team of experts
would review and select the start-up by considering
its techno-commercial aspects.
We propose to provide the following services to new start-ups through
- Help with business basics
- Networking activities
- Marketing assistance
- Market Research
- High-speed Internet access
- Help with accounting/financial management
- Access to bank loans, loan funds and guarantee
- Help with presentation skills
- Access to angel investors or venture capital
- Comprehensive business training programs
- Advisory boards and mentors
- Management team identification
- Help with business etiquette
- Technology commercialization assistance
- Help with regulatory compliance
- Intellectual property management
In order to facilitate the new start-ups,
the NEC-ED Cell would
- Encourage and motivate the students of our
institution to do the innovative projects in
order to promote technology start-ups.
- Facilitate the students to exchange their
new innovative thoughts and ideas, and to collaborate
across various disciplines in the institution.
- Provide sufficient spaces & built up
area with all facilities for accommodating
new start-ups on lease basis.
- Provide services such as business advice,
financial counselling, assistance with business
management and accounting, legal and regulatory
guidance, access to mentors etc.,
- Provide early stage / idea to PoC (Proof
of Concept) funding.
- Encourage start-ups who may need early stage
funding to stimulate commercialization of research
discoveries and to help in validating proof
of concept and subsequently to assist them
to cover costs like certification, manufacturing
pilot services etc.,
- Promote capacity building through exposure
visits and organizing facilitation workshops.
- Organize start-up festivals to create an
exhilarating climate to inspire innovation.
- Provide technical services that include R&D
activities, product development, re-engineering,
calibration and testing facilities, quality
assurance and market research to the start-up
- Provide mentorship assistance to the start-up
student entrepreneurs of our institution by
inviting the Government officials from DIC,
TIIC, MSMEs, EDIs, successful alumni entrepreneurs
and other related field experts to our institution.
- Provide learning resources, laboratory facilities
and other services of the institution for the
benefit of their operation.
- Provide seed funding to the start-up business
with lesser rate of interest.
- Assist & help the start-up student entrepreneurs
to get subsidies & incentives from government
where ever possible.
SELECTION AND EXIT POLICY FOR START-UP
Who can become start-up?
1. The students of NEC
2. Aumni of NEC and
3. Faculty members of NEC
Selection Process: (Selection
Criteria of the start-up and the Mechanism)
Potential alumni entrepreneurs, students and
faculty members of NEC willing to join in the
start-up programme often have to go through a
selection and evaluation process consisting of
the following general steps:
i. ALUMNI ENTREPRENEURS
- Submitting an idea with action plan.
- Conducting feasibility study regarding technical
aspects and business viability.
- Conducting cost benefit analysis by our experts.
- Receiving adequate financial support after
having discussion with financial service providers.
ii. a. Start-Up Companies by students
and faculty members of NEC
Formal selection process for start-ups:
- Submit an idea, business model and
/ or plan.
- Presentation: give a presentation in
front of selection committee consisting
the members from NEC & external
experts. The internal experts team consists
of Principal, ED Cell coordinator, NEC-BI
Manager and one expert from all the departments
of our institution. External expert team
consists of members from EDI, DIC, CII,
MSME, LEAD Bank and alumni entrepreneurs.
- Acceptance and management of expectations:
acceptance of start-ups under condition
of expected results, for example a plan
with clear targets.
- Monitoring: monitoring of expected
results, which can result in a continuation
or exit of the start-ups.
of IP & revenue from the IP
per NEC IPR policy
The exit of any start-ups from NEC may result
- On completion of Two years ( Unless extended
- Underperformance or unavailability of the
- When the annual turnover of the company exceeds
Rs.2 crores or when the company’s net
profit after tax exceeds Rs. 50 lakhs annually.
- When the number of employees of the company
- Disputes among the promoters, affecting the
viability of the Company.
- Violation of any NEC policy.
- Any other reason for which NEC finds it necessary
for Start-up Company to leave.
Not withstanding anything written elsewhere,
the NEC’s decision in connection with the
exit of Start-ups Company shall be final & shall
not be disputed by any start-up company.