Consideration

SIIC will charge the incubatees for infrastructure and services, seed loan and IIT Kanpur Intellectual Property. This payment would be in the form of service charges and equity share as per the following details. Liability free (paid-up) Equity of 3% equity would be assigned to IIT Kanpur for providing incubation facility and infrastructure services in all cases. 

The Equity held of the incubated companies shall be disposed by IIT Kanpur as per the approval given by the Institute based on the recommendations of the Technology Transfer & Equity Management Advisory Committee (TTEMAC).

Infrastructure and Services :

For a company with the office space of 250 sq. ft. and 2 PCs, the service charge comes with a minimum of Rs. 5533/- per month as per the following calculation:*

Office rent at Rs. 8/sq. ft. per month for 250 sq. ft.

Rs.2,000.00

PC rental at Rs. 1000 per PC per month (2 PCs)

Rs.2,000.00

Printer at Rs. 200 per month (inkjet) 

Rs.200.00

Internet connection per login per month

As charged by the Computer Centre

Electricity charges including air-conditioning

On Actual

Telephone Bills

On Actual

Accommodation 

As per actual charge

Space more than 250 sq. ft. 

Rs. 40 per sq. ft.

Occupancy after completion of incubation period 

Rs. 80 per sq. ft

Occupancy after two years of incubation period

Rs. 20 per sq. ft.

Occupancy in RA or any accommodation

at commercial rates

after incubation period expires

 

* SIIC may at its discretion revise the rates from time to time.

The incubatees would have the option of deferring 50% of the rent till the time they exit from SIIC. For the deferred amount, an interest rate of 5% would be charged to the incubatee. This amount would have to be paid back at the time of exit or converted into equity. The price for conversion would be as per the Seed Fund Guidelines.

 

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