Guidelines & Selection Process for Pre-Incubation and Grant Support

1. The faculty member submits an expression of interest through an online form to FITT–IIT Delhi.
2. After initial screening, the selected applicant(s) is then required to submit a detailed technical and business plan.
3. FITT shall organize a duly approved sub-committee meeting for final selection process.
4. Based on the Sub Committee’s recommendation, the selected applicant(s) shall be given the grant amount.
5. The FIF-SG is designed to encourage and support faculty-led startups at the Institute. The grant can be utilized for company incorporation, initial regulatory compliance and prototype/product development.
6. As a good faith towards the institute's contribution, the Selected FIF – SG startups recommended by the Selection Committee, will issue incubation equity of 7.5% if 25 Lakhs of grant is sanctioned and 10% if 50 Lakhs of grant is sanctioned.