Moradabad Institute of Technology Innovation Foundation, a section 8 company, incorporated under Companies Act 2013, having its corporate office at C/oMoradabad Edu.Trust, MIT Campus,Ram Ganga Vihar, Moradabad, Moradabad, Moradabad- 244001, Uttar Pradesh (hereinafter referred to as “MITIF”).

Objective

The Moradabad Institute of Technology Innovation Foundation (MITIF) aims to foster technology-based entrepreneurship, facilitating the practical application of knowledge for public benefit. This policy outlines the framework to guide and manage the development of entrepreneurship, promote innovation, generate employment, and introduce emerging technologies, contributing to the state economy and empowering youth.

Key Goals

1. Promotion of Technology-Based Entrepreneurship: Encourage the development of startups that leverage technology to create innovative solutions.
2. Facilitation of Practical Application: Support the translation of academic knowledge and research into practical, marketable products and services.
3. Employment Generation: Create job opportunities through the establishment and growth of new businesses.
4. Emerging Technologies Introduction: Promote the adoption and development of new technologies in niche sectors.
5. Empowerment of Youth: Provide young entrepreneurs with the tools, resources, and support they need to succeed.

The scope of this document is to define the policies and procedures for the operational matters related to the MITIF Moradabad. It covers the following:

1. Vision & Mission of MITIF Moradabad
2. Eligibility for Pre-Incubation, Incubation and Virtual Incubation
3. Admission procedure
4. Infrastructure and Services provided to incubated start-ups
5. Mentorship
6. Period of Incubation/ Exit
7. Intellectual Property Evaluation
8. Seed funding
9. Periodic assessment
10. Consideration
11. Conflicts of interest
12. Disclaimer
13. Agreements
14. Special provision for long gestation companies
15. Auditing/ Accounting & Compliances norms

The policy is subject to periodical review and amendments. It will be the responsibility of the companies admitted to MITIF Moradabad to update themselves from time to time on amendments in Incubation Policy and Procedures. MITIF Moradabad reserves the rights to make an exception of all or any of the terms of policy for a particular company or a promoter on a case to case basis.

Dr. Rajul Mishra