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Norms on Innovation and Incubation:

Recently, the UGC has notified that the Universities across the country have been classified as category – I, II and III Universities based on NAAC – Grade and NIRF – Rank obtained by them. Universities which have secured a CGPA of more than 3.5 / 4 are placed under category – I universities with NAAC Grade – A. They are accorded with full academic autonomy and to introduce innovation and reforms in the university without the need for prior approval from UGC. Sri Ramachandra University has secured NAAC – ‘A’ Grade with a CGPA of 3.62 / 4 and the NIRF – Rank of 39. Hence we are placed under category – I Universities.

NAAC, under the revised Quality Institutional Framework (QIF) being implemented from July 2017, has introduced the new key aspect called, "Innovation Ecosystem" under criterion – III – Research" for universities. This requires the presence of "Innovation – Incubation Centre" if they are to be considered as high quality universities. The NIRF also is providing better weightage, if the Innovation - Incubation Centre is present and if the startup entrepreneurs are facilitated.

In this context, it was placed before the BOM of SRU that, Sri Ramachandra University has established a Central Research Facility in 2007 to gain recognition as a Centre of Excellence in Medical Research. It is the "A to Z gateway" for research for students, researchers and Faculty members, to take care of all logistics of research planning, research projects, Accounts and Finances, research documentations, besides providing a centralized sophisticated equipment facility and the University – Industry Liaison Centre with IPR / Patents Cell to the entire University.

This facility, in a plinth area of 25,000 sq.ft., has Clinical Trials Division, Epidemiology Research Division, Project Development and Documentation Unit and a University Sophisticated Instrumentation Laboratory besides a centralized administrative office. All high-tech equipment for the genomics (including next generation sequencing), cell biology, spectroscopy, chromatography, radio-isotopy, Confocal microscopy, Flow cytometry, NMR facilities along with walk-in-cold room (4ºC), cryopreservation unit (-80ºC), cold room (-20ºC) etc. are available.

Under the above narrated context, it was proposed to elevate the "Sophisticated Instrumentation Laboratory" and other facilities of CRF as ‘SRI RAMACHANDRA INNOVATION INCUBATION CENTRE (SRIIC), as an ideal Research and Development Innovation Ecosystem of the University. It is conceived that the proposed centre will function on the creativity and motivational mechanism to facilitate academia-academia / academia-industry and industry-industry collaborations. The ecosystem created would nurture ‘startup’ culture among the young entrepreneurs and work as a catalyst for product (drugs etc.,)/ process development, acquiring patents for inventions leading, paving the way for technology-transfer and commercialization. (Fig.1)

It was also proposed that the SRIIC activities will have six verticals (Fig. 2)

In order to evolve ‘SRIIC’ as a resource - generating and ‘ladder-based growth model’, with minimum budget, the conceived plan is to have a multi-dimensional approach to maximally utilize the space, equipment and infrastructure available. The avenues to be utilized would be the following: (a) Services to SRU R&D projects / PI projects and projects of Ph.Ds and PGs; (b) Space and infrastructure to MSMEs as ‘incubatees’ and young entrepreneurs as ‘startups’ (c) Co-ordination for the conduct of sponsored clinical trials (d) Conduct of sophisticated high-end molecular and genetic investigations for patients from Sri Ramachandra Medical Centre (e) Renting of equipment(s) to industry clients (f) providing laboratory space to companies on collaboration based financial terms. (g) Equipment user services to outside academic, R&D institutions and industries. (h) Conducting Industry – academic based BIRAC/DST sponsorship projects and (i) Attempting to establish the BIONEST-Bioincubator BIRAC/DBT of Government of India.

The BOM has approved the proposal on 15.07.2017. Preparations for making the SRIIC functional are underway. The most important requirement is the norms and guidelines to be adopted for facilitating Startups and Incubatees to utilize SRIIC facilities.

Accordingly, the “Startup / Incubatee Agreement” is developed along with its Annexures. (Annexure-I)

The term ‘Resident Company/Incubatee’ and ‘SRMC&RI(DU)’ may also, hereinafter, be referred to individually as ‘Party’ and collectively as ‘Parties’.

WHEREAS SRMC&RI(DU) has established Sri Ramachandra Innovation & Incubation Centre (hereinafter referred to as SRIIC) with a mission to foster successful entrepreneurs and develop industry in the Knowledge and Technology based areas of Clinical Biomedical Science and Technology.

AND WHEREAS SRMC&RI(DU) is the parent body of SRIIC and conjointly referred as the same party for the purpose of this Agreement and SRIIC is empowered to transact its business/activities under the bye-laws of SRIIC as approved by SRMC&RI(DU);

AND WHEREAS a copy of the said bye-laws is attached hereto as Annexure-I hereto;

AND WHEREAS the Resident Company/Incubatee has approached SRMC&RI (DU) to incubate it and SRMC&RI(DU) has accepted to assist and nurture the Incubatee at SRIIC;


1. Objectives

SRMC&RI (DU), Chennai agrees to incubate the Resident Company/Incubatee in the Sri Ramachandra Innovation and Incubation Centre (SRIIC) at SRMC&RI (DU). The purpose of incubation unit will be to:

  1. Promote & interact with, and resource technology/expertise from faculty members and research scholars and laboratory infrastructure in the various departments and Centers of the Deemed University, with special reference to its Central Research Facilities.
  2. Help in getting other kinds of techno-managerial expertise required that is not available within the Deemed University.
  3. Incubate novel technology and business ideas into viable commercial products or services.

2.0 Tenure of Incubation

3.0. Facilities and Infrastructure

4.0. Consideration

5.0. Undertaking and Indemnity

6.0. Amendments to bye laws of SRIIC

7.0. Arbitration:


Where the Resident Company/Incubatee has not fulfill or violated any of the contractual obligations specified in any contract with any other party including statutory organizations, Resident Company/Incubatee shall be held completely responsible for the same and in any event SRMC&RI (DU)/SRIIC shall not be held liable in any manner for such lapses, if any, on the part of Resident Company/Incubatee.


For & on behalf of the Resident Company/Incubatee For & on behalf of SRMC&RI (DU)
Signature: Signature:
Name: Name:
Designation: Designation:
Seal: Seal:
Witness (Name & Address)
1. ....................
2. ....................
1. ....................
2. ....................



The Company hereinafter called the “Resident Company/Incubatee” as per the Incubation Agreement with SRMC&RI (DU) for synergistic collaboration through SRIIC has been permitted to be an Incubatee at SRIIC of SRMC&RI(DU). If there is any conflict in the byelaws given below, with any of the clauses of the Agreement mentioned above, the clauses of the said Agreement will prevail.

1. Tenure of Incubation

The Resident Company/Incubatee will be permitted to incubate in SRIIC for a period of 24 (twenty four) months. Two further extensions can be granted for 6 months each at a time, at the sole discretion of SRMC&RI (DU)/SRIIC.

2. Exit

2.1. The Resident Company/Incubatee will be required to leave the incubator under the following circumstances:-

  1. After the completion of the Incubation including extended incubation period, if any.
  2. Underperformance or in-ability to perform business as evaluated and decided by SRIIC/SRMC&RI (DU) on case to case basis.
  3. Irresolvable promoters’ disputes in opinion of SRIIC/SRMC&RI (DU) on case to case basis.
  4. Violation of any Statue, rules and regulations of SRMC&RI (DU) in the opinion of SRIIC/SRMC&RI (DU) on case to case basis.
  5. Capital cash flow exceeds Rs. 2,00,00,000/- (Rupees two crores only) in the opinion of SRIIC/SRMC&RI (DU) on case to case basis.
  6. Number of employees of the Resident Company/Incubatee exceeds 20.
  7. When the annual gross revenues of the Resident Company/Incubatee (excluding all the taxes) exceeds Rs. 2,00,00,000 (Rupees two crores only) or the Net Profit After Tax exceeds Rs. 50,00,000 (Rupees fifty lakhs only).
  8. When the Resident Company/Incubatee enters in an acquisition, merger or amalgamation deal or reorganization deal resulting in a substantial change in the profile of the company, its promoters, directors, shareholders, products or business plan.
  9. Incubatee plans for a public issue in the opinion of SRIIC/SRMC&RI (DU) on case to case basis.
  10. Change in promoters'/ founders' team in the opinion of SRIIC/SRMC&RI (DU) on case to case basis.
  11. Any change of more than 50% of equity ownership unless approved by SRIIC, in the opinion of SRIIC/SRMC&RI (DU) on case to case basis.
  12. Any other reason for which SRIIC may find it necessary for the Resident Company/Incubatee to leave.

2.2. Notwithstanding anything contained herein in the Agreement with the Resident Company/Incubatee or in the bye-laws of SRIIC:

  1. the decision of SRMC&RI (DU) in connection with the exit of the Resident Company/Incubatee shall be final and shall not be disputed by any Resident Company/Incubatee; and
  2. the Vice-Chancellor of SRMC&RI (DU) shall have the right to consider any representation in consultation with SRIIC and decide the matter at his discretion which shall be final and binding the Resident company/Incubatee.

3. The Resident Company/Incubatee shall undertake Research & Development, Biomedical/Diagnostic/Preclinical and Clinical research from SRMC&RI (DU) premises but shall not carry out warehousing, storage, marketing, sales or other commercial routine activity.

4. The SRIIC address in SRMC&RI (DU), Porur, Chennai-116 shall not be used as the address of the Registered Office of the Resident Company/Incubatee.

5. Subleasing or subletting of any kind of the space given by SRMCRI(DU)/SRIIC to the Resident Company/Incubatee is not allowed. Non-observance of this rule will result in immediate expulsion of the Resident Company/Incubatee from the premises of the Incubator/SRIIC.

6. If a Resident Company/Incubatee requires more space or has vacant space, a request for additional space/surrender of the space should be made, in writing, to SRIIC.

7. The Resident Company/ Incubatee shall provide a Non-Dilutable Equity equivalent to 5 to 10% of its equity to SRMC&RI (DU). In addition to this, the Company has to provide 1% of its equity or 100 shares whichever is higher to each Mentor of SRMC&RI (DU) wherever joint intellectual property right/patents have resulted.

8. The Resident Company/Incubatee shall comply with all statutory rules and regulations prescribed by the Govt. of India and the Govt. of Tamil Nadu applicable to the activities carried on by the Resident Company/Incubatee at SRIIC strictly and the Resident Company/Incubatee shall be held totally liable for any non-compliance in this regard.

9. Where the Resident Company/Incubatee has not fulfill or violated any of the contractual obligations specified in any contract with any other party including statutory organizations, Resident Company/Incubatee shall be held completely responsible for the same and in any event SRMC&RI (DU)/SRIIC shall not be held liable in any manner for such lapses, if any, on the part of Resident Company/Incubatee.

10. The Resident Company/Incubatee shall provide a list, as per the following format, of its full-time and part-time employees deployed at SRICC at least once in every month:

Sl.No. Name Age Sex Full time or part time Qualification & Experience Designation & Responsibilities/Duties assigned Residential Address Signature of the employees

11. All the visitors to the SRIIC Complex shall sign in the visitor’s register and collect their visitor's badges/passes. They must wear these passes/badges at all times while in the SRIIC complex. They shall return these passes/badges while leaving the building.

12. The space given at SRIIC complex is without any furniture. The Resident Company/Incubatee shall submit to SRMC&RI (DU) a lay out plan for any modifications, permanent fixtures, etc., which are planned in the space provided to it. Without the prior approval of SRMC&RI (DU) for the lay out plan the Resident Company/Incubatee cannot undertake such work. After the completion of incubation, the space should be returned in the same condition as it was in the time of taking the occupying the space of SRIIC excluding normal wear and tear, decision of SRIIC in this regard will be final.

13. The Resident Company/Incubatee should ensure that noise levels are kept at minimum and no abnormal noise by any machine or by their employees or visitors should be made. Any complaint of high noise level will result in appropriate action by SRIIC.

14. All Resident Companies/Incubatees shall observe health and safety standards. No hazardous material can be brought inside the SRIIC complex without the prior approval of SRIIC. All the Resident Companies/Incubatees shall keep a first aid kit in the space provided to them and shall be responsible for following of safety measures by the employees of the Resident Companies/Incubatees.

15. All the Resident Companies/Incubatees shall obtain fire insurance policy for a sum which will be prescribed by the SRIIC.

16. The Resident Company/Incubatee shall obtain prior approval of SRIIC for bringing any assets/materials into SRIIC.

17. No Resident Company/Incubatee or its employee shall display notices or signage except in the space or Boards provided for such signage by SRIIC.

18. It is the responsibility of all the Resident Companies/Incubatees and their employees to use the common facilities e.g. common area, fax & other machines etc. with due diligence and care.

19. (a) The Resident Company/Incubatee shall submit its unaudited/audited quarterly financial results, to SRIIC.

(b) The Resident Company/Incubatee should also inform SRIIC on the progress on the incubation projects and should make presentations to SRIIC on a quarterly basis.

(c) The Resident Company/Incubatee is also obliged to submit to SRIIC a copy of the Memorandum of Association, Articles of Association and the Annual Report as and when approved by their Board of Directors.

20. It will be beneficial for the Resident Company/Incubatee to involve experts of SRMC&RI(DU) and/or use existing laboratory facilities during the developmental activities for mutual benefits. The consultancy charges payable to SRMC&RI(DU) experts/ mentor will be according to the norms as laid down by SRMC&RI(DU) in this regard.

21. Notwithstanding any issue/dispute pending between the Resident Company/Incubatee and SRMC&RI (DU)/SRIIC at the time of completion of the agreed tenure of incubation period, or if given an exit notice by SRIIC, the Resident Company/Incubatee must vacate the allotted space unconditionally.

22. The Resident Company/Incubatee shall comply with all applicable statutory regulations pertaining to its activities at SRIIC and shall keep the SRIIC informed about any visitor from abroad, foreign collaboration and/or foreign partner or director, and abide by the rules/procedures in vogue in the SRIIC/SRMC&RI (DU).

23. The Resident Company/Incubatee shall keep the SRIIC informed in advance and obtain their concurrence in writing for the following during the incubation period:-

  1. Change of Name of Incubation Company to any other form of legal entity
  2. Any Major change in their incubation/business plans
  3. Change in their ownership pattern
  4. Change in their Board of Directors
  5. disposal of assets

24. SRIIC/SRMC&RI(DU) reserves the right to release information regarding the Incubatee/ Incubation/ products or services of the Incubatee, to the media to promote SRIIC for non-commercial purposes.

25. All Resident Companies/Incubatees incubated in the SRIIC shall submit their audited Annual Balance Sheet to SRIIC, after graduating from SRIIC.

26. In respect of any issue/matter wherein no rules and/or byelaws are clearly stated/defined, SRMC&RI(DU) rules and/or byelaws pertaining to such issues/matters shall prevail.

The Resident Company/Incubatee understands and acknowledges that SRIIC/SRMC&RI (DU) intends to provide supports facilities to the Resident Company/Incubatee in good faith to pursue its objective to promote entrepreneurship by converting innovative technologies by incubating and supporting new enterprises. It is understood that by agreeing to provide various supports and facilities, SRIIC/SRMC&RI (DU) or their employees shall not be responsible for:

  1. Ensuring success of a Resident Company/Incubatee, its products/ process/ services or marketability; or
  2. Ensuring quality of support provided by SRIIC to the complete satisfaction of the Resident Companies/Incubatees or their promoters/ founders; or
  3. Ensuring quality of services of the consultants engaged by the Resident companies/Incubatees through SRIIC/SRMC&RI (DU) network. Resident companies/ Incubatees will have to apply their judgments before getting in to a relationship with them.


Facilities and infrastructure to be provided to the Resident Companies/ Incubatees in terms of clause 3 of the Agreement



Consideration/charges payable to SRMC&RI(DU)/SRIIC for infrastructural facilities in addition to other facilities:

The consideration payable by the Resident Company/Incubatee for the use of the incubation centre facilities and infrastructure will be as follows:-