Srinagar, April 28: The Managing Committee of the Shri Mata Vaishno Devi University Technology Business Incubator (SMVDU-TBIC) recently held a meeting to discuss the finalisation of its policy document and funding guidelines.
Apart from the internal committee members, Dr. Ashutosh Pastor, Head Incubation, FITT IIT Delhi and Amit Singh Rathore, CEO of IIF DTU, participated as external members. The meeting commenced with a welcome address by Dr. Sanjay Mohan, CEO of SMVDU-TBIC, who welcomed the Vice Chancellor and other team members. During the meeting, several key recommendations were made to enhance the support provided to startups.
The committee suggested offering support at the ideation stage and providing the center with more flexibility in managing the incubation process. Various aspects of the incubation phases and corresponding funding procedures were also deliberated upon. The committee discussed several funding opportunities for TBIC, including avenues for streamlining startup registration. It was recommended to allow temporary workspace agreements with founders, alumni, and private investors to facilitate early-stage development. Another significant point of discussion was the potential for SMVDU-TBIC to hold equity in startups. The committee explored the legalities and governance framework for such a model. The committee also proposed creating a dedicated policy to protect students from potential exploitation in startup collaborations and establishing a structured process for MVP (Minimum Viable Product) grant disbursement.
Additionally, a formal selection and review process before funding allocation was suggested to ensure alignment with the incubator’s strategic goals. These recommendations are expected to strengthen SMVDU-TBIC’s role in fostering innovation and supporting the growth of startups in the region. The meeting concluded with a vote of thanks delivered by Divye Duheta Mahajan, Manager of SMVDU-TBIC.
