IIT Madras Bioincubator

FAQ

  • 1. What is IITM-BI ?

    The Bio-Incubator is a facility provided to startup companies in the biotechnology sector to enable them to grow and enter the market.

  • 2. Should I apply ?

    You should apply if you have any one of the following related to biotech industry:
    You have an innovative idea related to biotechnology business
    You have a new product you want to bring to market
    You want to test out a new process for existing products
    You are a biotech startup registered in India.

  • 3. Where is this located ?

    This facility is partly located within IIT Madras campus, in the Department of Biotechnology, which is mainly office space. The lab is located in IITM Research Park, Taramani. For more details, click here

  • 4. What advantages do I get in IITM-BI ?

    Facilties include:

    Office space at nominal rates

    A good lab with equipped with all basic biotech instruments .

    Access to other sophisticated instrumentation facilities at IITM

    Opportunity to interact with IITM faculty and students

    Other support services through IITM-IC viz. accounting, legal, company secretaryship, IP and mentorship.

  • 5. Is any particular qualification required for applying ?

    Anyone with a basic background of life sciences can apply.

  • 6. How do I register my company ?

    The detailed procedure (typical) is here . To check for latest updates and information, see here .

  • 7. Can I register my company in IITM-BI address ?

    You cannot use the IITM-BI address for registration of your company.

  • 8. How long will it take to register my company ?

    About 2 months from application

  • 9. I have a company registered abroad, can I apply ?

    No, IITM-BI is open only for Indian companies.

  • 10. I have an established biotechnology company ? Can I use IITM-BI to do my in-house R&D ?

    No. This space is only for start-up companies incubated with IITM-BI.

  • 11. How many people should my company have ?

    There are no restrictions apart from the rules required for registration of the company (see link above).

  • 12. How old should my company be to apply to IITM-BI ?

    It should be a start up, not more than 3 years old since registration.

  • 13. How much money should I have to apply ?

    You need to have some seed funding from one of the funding agencies like BIRAC, DRDO, or some venture capital. Grants like BIG provide around 30-50 lakhs over 3 years.

  • 14. Should I already have obtained funding before applying to IITM-BI ?

    Not necessarily, but there should be some source of funding before you can start incubating.

  • 15. I have an idea and I have a registered company, but I have no funds. Where can I obtain funds ?

    You can try to obtain funds as grants or loans from Government organizations, banks or venture capitalists You can try to get some seed funding from angel investors through TiE You can also enter some competitions for startups and win money / sponsorship.

  • 16. Can I get any seed funding through IITM-BI ?

    No, but you may be able to apply for some funding through IITM-IC once you are an incubatee. See here.

  • 17. Is this open only to IITM students or alumni ?

    Its not only for IITians. External candidates with a potential or innovative idea can apply as long as they can establish a link with IITM in some form like mentorship or shareholders.

  • 18. What is the process for application to IITM-BI ?

    Once the applicant has applied through the online form, it will reach the BI staff. The initial screening of the application will be done by the Screening Committee. Upon selection, the application will be taken to IITM-IC for finalization.Then, you will need to sign an agreement with IITM-IC and IITM-BI. Here is the flowchart

  • 19. What facilities/services does IITM-BI provide to incubated companies ?

    IITM-BI will offer both lab facilities and office cubicles. Lab facilities will include equipment for small- and medium- scale processing in Microbiology, Molecular Biology, Cell culture, Downstream Processing and basic analytics. To see the list of equipment, click here . Other facilities like mentorship, accounting, legal, company secretaryship, and IP will be provided by IITM-IC. Click here for more information.

  • 20. Will IITM-BI provide chemicals, glassware and other consumables, or should I procure them for myself ?

    IITM-BI will not provide any glassware, chemicals or other consumables. They will be bought and maintained by the incubatees.

  • 21. Does IITM-BI have technical support staff to help me with some instruments ?

    No. BI will not provide help with sample processing or analysis. All bench work has to done by company personnel.

  • 22. Can I bring my own equipment and use in IITM-BI ?

    Yes, but with prior intimation to IITM-BI and used under your own control and supervision. IITM-BI will not be responsible for the safety, usage and maintenance of incubatee's equipment.

  • 23. How big is the IITM-BI ?

    The Bio-Incubator has around 3000 sq. ft. in Phase I of IITM Research Park and 700 sq. ft. in IITM. Another 6000 sq. ft. of space is expected to be added in Phase II of IITM Research Park.

  • 24. How much space will I get if I incubate ?

    Office cubicles and lab benches will be allocated to each incubatee depending on the availability and requirements.

  • 25. Is there dedicated space for each incubatee or is the lab shared by all incubatees ?

    Each incubatee will have a separate work bench and dedicated storage space but all the equipments will be shared by all incubatees in a common lab space.

  • 26. Can I use the facilities if I am not an incubatee ?

    No. You have to be incubated in order to utilize the services.

  • 27. Whom can i approach to be my mentor ?

    If you do not already have a mentor before applying, you can get in touch with any of the technical experts in your field to be your mentor. here for a sample list. Incubatees may also be offered mentorship in collaboration with IITM-IC. Find more information here .

  • 28. I have applied online. How long will it take to receive a response ?

    You will receive a confirmation of your application immediately after you apply online. The Screening Committee will meet once in 6 months, wherein the applications will be evaluated.

  • 29. What will my application be judged on ?

    Applications are judged on their technical merit, potential usage and economic viability.

  • 30. What do I need to give IITM-BI in return for being incubated ?

    selected as an incubatee, you will need to sign a contract and transfer some equity shares to IITM-IC. Apart from this, IITM-BI will charge nominal fees depending upon the extent of usage of the facility.

  • 31. How long can I incubate ?

    The minimum period for incubation is 3 years, depending on the growth and performance of the incubatee company. A contract may be terminated before the end of 3 years also if the incubatee company performs very poorly or is ready to go into the market (graduation).

  • 32. If I want to move out of IITM-BI, what should I do ?

    You should apply in writing with due notice.

  • 33. How will my progress be tracked? Who will monitor me ?

    IITM-BI will conduct review meetings every 6 months. Additionally, IITM-IC will also track progress through regular reports.You need to submit monthly progress reports, quarterly cash flow and P&L summary and yearly audited accounts to IITM-IC.

  • 34. If I have not generated money or profit, can I continue in IITM-BI ?

    The Committee will decide whether and when to terminate any incubatee with due notice. Support will be continued as long as the Committee finds promise in the idea and the company.

  • 35. My work involves handling blood samples. Can I do it in IITM-BI ?

    No. Blood samples are not allowed to be used in BI. We do not have the requisite permissions or regulatory measures.

  • 36. My primary work is done outside of a lab (e.g field). Can I use BI for office space alone ?

    Yes, you can use the office space as an incubatee.

  • 37. Can I use pathogenic organisms for my work in IITM-BI ?

    No

  • 38. Does IITM-BI require any authorship for patent or publication from my work?

    No. We don't require.

  • 39. Will IITM-BI maintain confidentiality for my concept or idea ?

    Yes, we will maintain confidentiality for the concept and all incubatees are required to sign a Non-disclosure Agreement.

  • 40. Can an Non governmental organisation (NGO) be an incubatee ?

    No, since equity cannot be given in turn to IITM.

  • 41. Whom can I contact for further details about BI ?

    Go to Contact Us