AGRIBUSINESS INCUBATION CENTRE
Selection Criteria and approval of registration of Incubates

STEP 1- Submission of Application Form

Initially, applicants for registration in ABIC will be required to submit an Application Form which can be downloaded from ABIC website. The Application Form is an electronic form which can be filled out and be submitted online. It is the preferred mode of submission of applications. However, the applicant can alternatively print out the PDF version and post it to:

Nodal Officer, ABIC
CCS HAU, Hisar-125004 Haryana

STEP 2-

I. Selection of Incubatee

a). Incubatee will submit an area of interest/discipline, type of facilities/help required for consideration by PMRC.

b). Potential entrepreneur will also submit the feasible idea on which incubatees wants to work.

II. Submission of Business Plan by exiting or established entrepreneurs

On receipt, the ABIC team will scrutinize the application form internally to evaluate the viability of the applicant as an incubatee. Based on affirmative assessment, applicant would then be required to submit a business plan for the incubation period. The business plan is expected to cover the basics of the business, namely, value proposition, products and services, market analysis, competition analysis, funding requirements, capital structure, milestones and timelines, development and marketing plan, organizational structure, team, risk analysis and projected financials. Applicants may give such additional information as they think would help in the assessment of their proposal. Based on the documents submitted, the Business Plan will be screened by the ABIC team for assessing the suitability of the proposal by expert members regarding its potential for incubation. Detailed scrutiny including financial and technical due diligence of the proposal shall then be carried out by the expert members for evaluation of the proposal. Some representative criteria to be applied for evaluation (not limited to these) includes

  • Education, Previous Experience
  • Strength of the product idea in terms of its technology content, innovation, timeliness and market potential
  • Profile of the core team/ promoters
  • Intellectual Property generated and the potential of the idea for IP creation
  • Financial/ Commercial Viability and 5 year projections of P&L, Balance Sheet and Cash Flows
  • Funds requirement and viability of raising finance
  • Time to market
  • Break-even period

  • STEP 3- Registration with ABIC

    After the selection of incubatee, the incubatee will be registered with ABIC.

    STEP 4- MoU/Non Disclosure Agreement with Incubatees

    The Incubatee will sign a MoU/Non Disclosure Agreement before any exercise with ABIC.

    STEP 5- Registration fee

    Before commencement of the incubation period, the incubatee has to pay to ABIC, deposit of Rs. ___________ (Rupees) to ABIC.(Registration fee according to category)