FAQs
1. What is an incubation centre?
Incubator or Incubation Centre help startups in their journey to become successful and scalable enterprises. They solve some of the problems commonly associated with running a startup by providing workspace, seed funding, mentoring, networking, training and a host of other resources that are required for the startup to survive and scale. The sole purpose of a startup incubator is to help entrepreneurs grow their business.
2. What is the difference between an incubator and an accelerator?
An incubator supports the start up from the idea stage to becoming a successful enterprise whereas an accelerator helps to scale the existing enterprise. An accelerator is an event (of perhaps 3-6 months period), while an incubator is an institution that supports startups usually between 6 to 12 months.
3. What is the minimum space requirement offered to Incubatees?
The applicant would be provided at least 1,000 sq. ft. of plug-n-play air conditioned office space 24×7 well equipped with computer system, almirah, high-speed internet, electricity back-up exclusively for the NSF incubatees. The space can be spread out in two floors across the same building in the campus.
4. Who is eligible to apply for the Incubation?
Entities such as higher educational institutions, R&D institutes, grassroot innovators, junior innovators of secondary class, corporate sector, group of individuals, and individuals are eligible to apply.
5. What is the process of applying for incubation in Navotthan Startup Foundation?
To apply for incubation support, you can visit our website and fill out the online application form. The application process involves submitting your business plan and other relevant details about your startup. Once your application is reviewed, you will be called for an interview, and if selected, you will be provided with the necessary resources and support to help your startup grow their business.
6. How does Navotthan Startup Foundation support startups to avail the benefits of UP Startup Policy 2020?
We support startups as per the UP Startup Policy 2020 by providing them with all the necessary resources and support to grow and succeed. We offer a range of services such as infrastructure facilities, mentorship programs, networking opportunities, marketing assistance, and financial management support. Our aim is to create an ecosystem that nurtures startups and helps them to scale their businesses.
7. What kind of startups does Navotthan Startup Foundation support?
NSF supports innovative startups across a wide range of industries, including but not limited to technology. We focus on healthcare, green energy, robotics, agritech, fintech, food processing, logistics, circular economy and ODOP products. We are open to working with early-stage startups as well as those in more advanced stages of growth.
8. What kind of mentorship and networking opportunities do you offer?
We offer a variety of mentorship and networking opportunities to our startups, including access to experienced mentors and advisors who can provide guidance on business strategy, marketing, financial management, and other key areas. Our networking events and workshops are designed to connect entrepreneurs with potential investors, industry experts, and other startups in the ecosystem.
9. How can I apply for the mentorship program?
To apply for the mentorship program at Navotthan Startup Foundation, you can visit our website and fill out the application form. The application process involves submitting your business plan and other relevant details about your startup. Once your application is reviewed, you will be called for an interview, and if selected, you will be assigned a mentor who will guide you throughout the program.
10. How does Navotthan Startup Foundation help with accounting/financial management?
We provide assistance in financial planning, budgeting, and financial management to our startups, which includes the development of financial models and projections. We also offer guidance on fundraising strategies, pitch development and investor relations.
