GENERAL RULES AND REGULATIONS

BioNEST at CSIR-CFTRI promoting Innovation in the domains of Bioprocessing and Biotechnology A joint initiative of the Biotechnology Industry Research Assistance Council (BIRAC) & CSIR-Central Food Technological Research Institute (CFTRI), Mysore

Introduction:
The Bioincubators Nurturing Entrepreneurship for Scaling Technologies (BioNEST) has been set up to provide business support & technology development initiative in the area of bioprocessing and biotechnology.

In the rapidly evolving landscape of biotechnology and life sciences, innovation is at the heart of progress. Bioincubators have emerged as dynamic hubs of innovation, fostering the growth of startups and entrepreneurs in the field of biotechnology. These specialized facilities provide a nurturing environment where aspiring scientists, researchers, and biotech enthusiasts can transform their cutting-edge ideas into tangible solutions that can revolutionize healthcare, agriculture, and various other industries.

Bioincubators serve as a crucial bridge between academic research and commercialization, offering a range of resources and support to startups and early-stage companies. This support includes state-of-the-art laboratory spaces, access to specialized equipment, mentorship, funding opportunities, and networking events. By bringing together like-minded individuals and providing the infrastructure necessary for research and development, bioincubators play a pivotal role in driving innovation and growth in the biotech sector.

The following are the Rules & Regulations of the BioNEST
Eligibility:
Companies are eligible for admission to the BioNEST, as per the rules and regulations.

Evaluation Criteria:

• Evaluation will be done on the basis of general compliance & and innovations
• Potential of the idea for IP Creation
• Strength of the core business team
• Financial & Commercial viability
• Status of the Organization

Facilities offered to the incubatees on chargeable basis:
(A) Individual Infrastructure Facilities

• Office Space: need-based
• Personal Computers depending on requirements
• Internet Connection
• Office furniture (Tables, Chairs, File cabinet, etc.)

(B) Common Infrastructure:

• Xerox Machine
• Laser Printer
• Scanner
• Common Secretarial facility

(C) Infrastructure of the Host Institute:

• The incubatee will have access to Infrastructure of the host institution as per the norms of CSIR-CFTRI
• The incubatee will have access to the library of CSIR-CFTRI
• Medical facilities will be made available on a chargeable basis

Agreements: The startup companies has to submit the following documents

• Incubation Agreement with BioNEST CFTRI
• Intellectual Property Declaration

Charges for infrastructure: The incubatee companies will have to bear the following expenses

• BioNEST Infrastructure: The rent for availing the facility will be fixed based on the usage
• CSIR-CFTRI Infrastructure: Access to CSIR-CFTRI infrastructure (Pilot Plants, Specialised Instruments etc.) will be charged as per CSIR-CFTRI Procedure

Exit Policy: Incubatee companies are required to leave the BioNEST under the following circumstances

• On completion of 18 months (Unless extended by the management)
• Underperformance or non-viable Business plan/strategy
• When the number of employees of the company exceeds 10
• Disputes among the promoters, affecting the viability of the Company
• Incubatee plans for a public issue
• Change in Promoters/ Founders team without concurrence of BioNEST
• Violation of any CSIR-CFTRI Policy
• Any other reason for which BioNEST finds it necessary for an incubatee company to leave, not withstanding anything written elsewhere, the BioNEST decision in connection with the exit of an incubatee company shall be final

Intellectual Property Policy: This will be as per the declaration proforma


Consultation: The hiring of any consultant outside CSIR-CFTRI by Incubatee shall be with prior written permission obtained from the NPIC-CIF