Terms & Conditions

  • The scientist (team leader) must be the owner of the Intellectual Property or be able to demonstrate s/he has legal access to it and has the written consent of all its owners for the exploitation of the concept.
  • The business concept must be derived from Intellectual Property in the Healthcare and Pharmaceutical Biotechnology disciplines.
  • A scientist (team leader) can submit more than one business plan. S/he, however, will have to register separately for each plan that his/her team submits.
  • The team leader will be the primary point of contact for communications from event coordinator.
  • The team leader must register on-line.
  • Minimum of 2 people per team
  • The competition is open to Scientists (team leader) who work and reside in India, from academia, research institutes and industry. Team members can be from any discipline
  • Entries submitted before the closing date will not be able to be re-submitted.
  • Entries submitted after the closing deadline will not be considered.
  • The team leader will be responsible for submitting the business plan.
  • A maximum of 4 people from each short-listed team will be invited to attend the final
  • Travel and accommodation costs for invited Finalists will be covered by the competition.
  • The prizes are non transferable.
  • SIDBI Innovation and Incubation Center will provide the India winning team with free incubation under the Free Incubation Scheme for 2 years and must be taken up within 6 months of the winning team being announced.
  • The winner team can also chose to incubate other Bio-incubators in the country, such the C-CAMP, Bangalore
  • FIS is subject to a small equity charge payable for availing the facilities and providing the new company with access to all facilities of IIT Kanpur, including but not limited to laboratories, library, testing facilities etc. Further details on the terms of the FIS scheme can be obtained from Dr. B V Phani, Coordinator SIDBI Incubation and Innovation Centre (SIIC), IIT Kanpur – bvphani@iitk.ac.im, siic@iitk.ac.in
  • Any prize money must be used to support the start up of the new business entity.
  • The India winning team will initially receive Rs 1 lakh. Rs 4 lakhs will be made available upon the establishment of a limited company.
  • Teams must agree with the terms and conditions of the competition and accept the declaration of confidentiality
  • Confidentiality declaration.

    • All concepts, executive summaries and finalist business plans will be treated as confidential and utmost care will be taken in handling the entries. However, responsibility for protection of sensitive materials ultimately lies with the teams participating in the competition.

    The executive summary submitted as part of this competition should be written in non-disclosing terms.

    Finalist teams will be asked to provide posters which will be displayed at a showcase exhibition to a broad audience of scientists, potential investors, business support organisations and regional/national development organisations. The content contained within these posters by the finalist teams should be developed as non-confidential display material. These posters will be displayed and presented during the grand finale event.

    Full business plans developed by the finalist teams and the final pitch will be treated as confidential by the panel of judges. All judges will be subject to a confidentiality agreement.

    If you intend to file for patent protection for any invention you should consider doing so before the disclosure or publication or display of any invention.

                  University of Nottingham