What kind of business support will be provided?
BKIF provides you with:
- Handholding the team throughout the ideation process
- Brainstorming the ideas
- Idea validation
- Helping the team to prepare comprehensive business case and KPIs
- Networking the team with industry experts including alumni
- Connecting the team with vendors/ suppliers/ professional firms
- Providing professional and business inputs to the team
- Helping the team in digital marketing and media coverage
- Providing necessary infrastructure and technology for you to set up and run your business
- Market visits
- Team profiling
- Preparation of supporting excel sheet if required
- Help in company formation
- Inputs for company seal’stamps, company letterhead, company-website launch, company’s social media, company’s bank account Interface with external investors
What is the kind of physical infrastructure available?
BKIF is having dedicated incubation area such as BKIF Secretariat, Co-working cubicle equipped with WiFi, LAN connectivity and other world class facilities.
What kind of shared resources will be provided?
- Wi-fi
- Library
- Cafeteria
- Open spaces
- Auditorium
- Office support system (for example, photocopier etc.)
What are the advantages of being a part of the ecosystem?
BKIF offers you a combination of industry expertise, business networking, facilities, infrastructure, funding as well as hand holding during the incubation process. This kind of unique blend would give you a definitive competitive edge.
What kind of equity stake does the incubation centre expect?
The equity stake will be decided on case to case basis.
Will there be any form of monetary capital contribution?
Yes, there will be funding for starting the business as well as meeting the running expenses of the business.
How is BKIF different from Venture Capital Funds?
A Venture Capitalist Fund would review the business and take the decision regarding whether to invest in you or not and then a Venture Capitalist representative would sit on your Board to direct it. On the other hand, BKIF would be engaged with you whole heartedly right from the ideation stage onwards.
What does BKIF look for?
- Dedicated and committed team
- Ability to take risks and face challenges
- Basic clarity on your idea and the problem that you are trying to solve
- Commitment towards your venture without compromising on your academics/current pursuits
Does BKIF sign NDAs (Non-Disclosure Agreements)?
Yes, we would sign NDAs so that your idea is well protected.
What is the process to apply for incubation?
You can contact us and kick start the process.
Should I have a complete team with me when I come for incubation?
It is definitely better to have a team. However, the individuals are also welcome to initiate the discussions. The team can be built as you move along.
Do you have a mentoring facility?
Yes, we have industry experts, faculty members, alumnus and entrepreneurs available as mentors.
How confidential would the idea be if we come for mentoring?
The idea will be strictly confidential under a Non-Disclosure Agreement.
Is BKIF only meant for BPIBS students?
No, it is open to all
What is the kind of term for which the start-up would be incubated?
We will endeavour to incubate the project till it is able to face series A funding; or if the project is shelved. Typically we see the engagement will BKIF to be of 1-3 years.
Would BKIF charge any fee?
This has not been decided upon yet.
What if my project fails? Do I have to return the money invested by BKIF in my project?
The amount of money genuinely spent on business expenses on the venture under incubation (necessary evidences required) need not be returned.
Is BKIF a start-up cell within the college?
No, it is a distinct corporate entity constituted as a Section 8 company under the Companies Act, 1956.
Is BKIF a separate faculty/branch within the college?
No, it is not a faculty or department under the college. We co-exist with BPIBS by the virtue of being a company promoted by BPIBS.
