Grant for Incubation Centers within Educational Institutes Scheme

Description
The scheme “Grant for Incubation Centers within Educational Institutes Scheme” is a scheme by the Department of Information Technology, Electronics and Communications, Government of Goa, for the Startups of Goa. Through this scheme, the educational institutes in Goa, affiliated with a recognized public university, can avail of a one-time grant towards capital expenses for setting up an incubator within their institute campuses.

Benefits
• All educational institutes in Goa, affiliated with a recognized public university, can avail of a one-time grant of up to ₹ 10,00,000 towards capital expenses, for setting up of an incubator within their institute campuses.
• The educational institutes with existing incubation facilities can also avail of the grant for capital expenses for further expansion of incubation facilities.
• The maximum number of institutes to avail of this benefit cannot exceed 15 per year.
• The educational institutes with existing incubation facilities will also be provided with a grant of up to ₹ 3,00,000 per year, for a period of three years, towards operational expenses.
• The preference will be given to well-performing applicants.
• NOTE 1: The institutes claiming the benefits under this scheme cannot restrict the incubation facilities only to the students of their institute.
• NOTE 2: Under no circumstance shall the benefits under this scheme be considered an entitlement. The SPC shall reserve the sole right to accept or reject applications.
• NOTE 3: For the purpose of determining eligible expenses towards capital expenses, Accounting Standard 102 for Fixed Assets by the Institute of Cost Accountants of India would be used.

Eligibility Criteria
1. All the educational institutes in Goa, affiliated with a recognized public university are eligible to apply for this scheme.

Application Process
Step 1: Step 1: Visit the Official Website of Goa Startup Mission.
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Step 1: Visit the Official Website of Goa Startup Mission.

Step 2: Step 2: Verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.
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Step 2: Verify your Email ID and Mobile Number using OTP. You will be redirected to the Registration Page.

Step 3: Step 3: On the Registration/Signup Page, fill in all the mandatory fields of the registration form (Country, Name, Date of Birth, Address, PIN Code, Gender, etc.).
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Step 3: On the Registration/Signup Page, fill in all the mandatory fields of the registration form (Country, Name, Date of Birth, Address, PIN Code, Gender, etc.).

Step 4: Step 4: Create a Login Name and a strong Password (Password can have special characters like @ # $ % ^ & + =).
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Step 4: Create a Login Name and a strong Password (Password can have special characters like @ # $ % ^ & + =).

Step 5: Step 5: Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes.
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Step 5: Carefully read the Declaration and the Terms & Conditions, and tick the checkboxes.

Step 6: Step 6: Fill in the Captcha Code, and click "Register/Signup".
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Step 6: Fill in the Captcha Code, and click "Register/Signup".

Step 7: Step 7: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".
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Step 7: Login to the website using your Login Name and Password. Fill in the Captcha Code, and click "Login".

Step 8: Step 8: Navigate to the online application form for the relevant scheme.
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Step 8: Navigate to the online application form for the relevant scheme.

Step 9: Step 9: In the application form, fill in all the mandatory fields and upload all the mandatory documents (self-attest if required).
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Step 9: In the application form, fill in all the mandatory fields and upload all the mandatory documents (self-attest if required).

Step 10: Step 10: Submit the application and note the application reference number for application tracking.
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OR

Step 11: Step 1: Take a print of the proforma of the application form. Fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attest if required).
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Step 1: Take a print of the proforma of the application form. Fill in all the mandatory fields, and attach copies of all the mandatory documents (self-attest if required).

Step 12: Step 2: Submit the duly filled and signed application form along with the documents to SPC via Email at [email protected]
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NOTE: The applicant can apply for this scheme at any time of the financial year but only within 6 months of incurring the relevant expenditure.
The applications received by the SPC shall be evaluated and approval or rejection shall be notified within 45 days from receipt of the application by the SPC.

Required Documents
• Copy of plan expenditure of proposed expenses*.
• The form and documents as mentioned in Annexure 1 for Educational Institutes.
• **NOTE:** The bank account of the Principal/ Director of the institute should be linked to Aadhaar.

Frequently Asked Questions
Q: Who is eligible to avail the one-time grant for setting up an incubator under this scheme?
A: All educational institutes in Goa, affiliated to a recognized public university, are eligible to avail the one-time grant.

Q: What is the maximum grant amount that educational institutes can receive for capital expenses?
A: Educational institutes can receive a one-time grant of up to INR 10 lakh for capital expenses.

Q: Can institutes with existing incubation facilities also apply for this grant, and if so, for what purpose?
A: Yes, institutes with existing incubation facilities can apply for the grant to expand their incubation facilities.

Q: Is there a limit on the number of institutes that can avail this benefit in a year?
A: Yes, a maximum of 15 institutes can avail this benefit in a year.

Q: Are institutes allowed to restrict the use of incubation facilities to their own students?
A: No, institutes cannot restrict the use of incubation facilities only to their students.

Q: What is the grant amount provided for operational expenses to institutes with existing incubation facilities?
A: Institutes with existing incubation facilities can receive a grant of up to INR 3 lakh per year for a period of three years towards operational expenses.

Q: How is the preference determined for granting operational expenses?
A: Preference will be given to well-performing applicants for operational expenses.

Q: Can the benefits under this scheme be considered an entitlement?
A: No, the benefits under this scheme should not be considered an entitlement. The Start-up Promotion Cell (SPC) has the sole right to accept or reject applications.

Q: What is the requirement related to the bank account of the institute's Principal/Director?
A: The bank account of the Principal/Director of the institute should be linked to Aadhaar.

Q: Which accounting standard is used to determine eligible expenses towards capital expenses?
A: Eligible expenses towards capital expenses are determined using Accounting Standard 102 for Fixed Assets by the Institute of Cost Accountants of India.

Q: What is the procedure for filing and disbursement of claims under this scheme?
A: Educational institutes need to submit the application form and requisite documents to the SPC. The SPC will evaluate and approve or reject the claims within 45 days, and the approved amount will be disbursed within 60 days from the date of approval.

Q: Are there any specific conditions for educational institutes applying for a one-time grant?
A: Yes, only educational institutes applying within the first 3 years of the policy period will be considered for a one-time grant.