The Govt. encourages establishment of incubators in the existing institutions, such as academic/technical universities (HPU Shimla, CSK HPKV Palampur, Dr. YS Parmar University of Forestry and Horticulture Nauni, IHBT Palampur, etc.), engineering institutions (NITs-IITs), technology centers (Tool room), IIM Paonta Sahib, etc. for help and promote startups and new industries in the State.
Efforts are made to set up incubators in the established private sector in cases where expertise is not available in the Govt. sector, specific thematic parks of industries Dept., other recognized R & D/Technical Institutes/Centre, Development Institutes empanelled by DPIIT.
Government of Himachal has approved 7 academic institutes to setup incubators across various sectors including IT, Engineering, Food processing, Biotechnology, Agriculture, e-commerce etc.
Incentives for incubators:
a. Setup Grant
Financial assistance are provided up to a maximum of Rs. 30 lakh per incubator per year up to a period of three years. Financial assistance will be provided to selected institutions for setting up the incubator and other activities.
Eligibility Criteria: Host Institutes (HIs) are reputed technology, management and R & D institutes of the state and other institutions and organizations focused on entrepreneurial development and promotion to set up Incubators to galvanize the startup ecosystems in the State.
Application Procedure: The interested institution will submit its proposal to the Director of Industries in a prescribed format who will further put it before the Executive Committee of the Scheme for consideration and approval.
b. Recurring expense grant
· Incubators are entitled for a grant of maximum Rs. 10 lakhs for meeting the recurring expenditure actually incurred as per the details mentioned below. This grant would be based on the performance of the incubator.
· Grants for supporting operational expenses in the incubator e.g. Salaries of Regional Coordinators, mentoring programs, networking meetings, conducting Hackathons, etc. - Up to Rs. 2 Lakhs.
· Annual Financial support for projects for Training and Capacity Building for Faculty and students. - Up to Rs. 2 Lakhs.
· Exposure to Support and Network Programs conducted by the departments concerned. - Up to Rs. 1 Lakh.
· Opportunity to visit National/ International startup destinations. - Up to Rs. 2 Lakhs
Internship Stipends - Up to Rs. 2 Lakhs
Miscellaneous other expenses & Administrative +charges - Up to Rs. 1 Lakh.
Eligibility Criteria: Host Institutes (HIs) are reputed technology, management and R & D institutes of the State and other institutions and organizations focused on entrepreneurial development and promotion to set up Incubators to galvanize the startup ecosystems in the State.
Application Procedure: The interested institution will submit its proposal to the Director of Industries in a prescribed format who will further put it before the Executive Committee of the Scheme for consideration and approval.
c. Rental reimbursements
In case of Govt. owned building is leased to an incubator, no lease rent or O & M charges are levied for a period of five years or until the incubator is self-sustainable, whichever is earlier. In case where private premises are taken on lease/rent basis, a rental reimbursement @ Rs. 5 per sq.ft. per month or 25% of the actual rent paid, whichever is less, are reimbursed for a period of 3 years. This shall be limited to the incubation space only.
Eligibility Criteria: Host Institutes (HIs) are reputed technology, management and R & D institutes of the state and other institutions and organizations focused on entrepreneurial development and promotion to set up Incubators to galvanize the startup ecosystems in the State.
Application Procedure: The interested institution will submit its proposal to the Director of Industries in a prescribed format who will further put it before the Executive Committee of the Scheme for consideration and approval.
d. Investment Subsidy
In case of incubator set up in private sector, an investment subsidy of 20% of the value of capital expenditure, other than land building, shall be provided to incubation projects that enter into an MoU with the state within 2 years of the notification of this scheme/policy. This subsidy shall be limited to a maximum of Rs. 50 lakh.
Eligibility Criteria: Host Institutes (HIs) are reputed technology, management and R & D institutes of the state and other institutions and organizations focused on entrepreneurial development and promotion to set up Incubators to galvanize the startup ecosystems in the State.
Application Procedure: The interested institution will submit its proposal to the Director of Industries in a prescribed format who will further put it before the Executive Committee of the Scheme for consideration and approval.
e. Stamp Duty/Registration fee Reimbursement
Incubators and Host Institutes shall be eligible for 50% reimbursement of the Stamp Duty and Registration Fee paid on sale/lease.
Eligibility Criteria: Host Institutes (HIs) are reputed technology, management and R & D institutes of the state and other institutions and organizations focused on entrepreneurial development and promotion to set up Incubators to galvanize the startup ecosystems in the State.
Application Procedure: The interested institution will submit its proposal to the Director of Industries in a prescribed format who will further put it before the Executive Committee of the Scheme for consideration and approval.
f. Land Allotment
The private party interested to set up incubator in the state shall be eligible for allotment of plot in industrial area for setting up the incubation facility as per the prevailing policy.
Eligibility Criteria: Host Institutes (HIs) are reputed technology, management and R & D institutes of the state and other institutions and organizations focused on entrepreneurial development and promotion to set up Incubators to galvanize the startup ecosystems in the State.
Application Procedure: The interested institution will submit its proposal to the Director of Industries in a prescribed format who will further put it before the Executive Committee of the Scheme for consideration and approval.
More details with regard to incubation process is available at HP Incubation Support.