University Business Incubation Centre (UBIC)
The University Business Incubation Centre (UBIC) nurtures the innovative ideas of the Entrepreneurs’ in emerging technological and knowledge based innovative ventures by providing necessary mentoring, promoting IP ecosystem and providing entrepreneurs a platform to commercialize their ideas besides it facilitates in raising the seed capital from different financial institutions at subsidised rates and IP protection by helping them to register IPs. The UBIC is established for nurturing innovation in local resource endowments thereby helping in income and employment generation in the region. The objective of UBIC is to emerge as a Centre of excellence in incubating ideas. The UBIC is supported by Innovation and Entrepreneurship Cells of the University.

• Scheme
• Guidelines
• Advertisement for Proposals 
• Application Forms for proposal submission
• Managing Committee and Sub committee 
• Events : Interactive Session, Photograph
• Application for Entrepreneur-Incubatee
• Pre application Format

FAQs
What is the business incubation centre (UBIC)?
UBIC is a first-of-its-kind initiative in Jammu and Kashmir to nurture the innovative ideas of young entrepreneurs’ by providing necessary financial, infrastructural and technical support. UBIC allocates dedicated mentors for commercialization of ideas. A large part of the UBIC’s efforts are directed towards identification of innovators, venture capitalists, financial institutions for supporting incubation of business ideas. Besides it provides Intellectual Property Rights protection by sensitizing the target audience through awareness programmes and technical support for registration of patents. UBIC is also actively engaged in conducting feasibility studies to identify the potential business opportunities covering local resource endowments for the benefit of entrepreneurs’.
Why is there a need for an organisation like UBIC?
A growing economy like India requires entrepreneurs’ who can create jobs. Therefore in order to facilitate those entrepreneurs’ and promote start-up culture UBIC provides hand-holding to nurture their ideas with liberal sharing of intellectual, infrastructural and financial resources besides providing the Intellectual property protection. Our primary goal is to foster entrepreneurship.

Who manages UBIC?
UBIC is managed by a team of experienced academicians, R&D experts, and industry professionals. Two tiered decision making structure is in place for smooth functioning which includes University Innovation, Incubation and Entrepreneurship Council and Managing Committee. The Council and Managing committee helps to formulate strategies for running it.

Which sectors does UBIC provide services for?
Keeping in view the resource base of three regions viz. Jammu, Kashmir and Ladakh thrust areas have been identified on the basis of resource endowments of each region and the growth potential of each such area of enterprise which includes :
 Fruit Processing
 Ready-made Garments
 Handicrafts
 Handloom
 Miniature Paintings
 Carpet Weaving
 Sports Goods
 Herbal Medicines
 Information Technology
 Electrical Appliances
 Leather Goods
 Biotechnology
 Pharmaceuticals
 General Stores
 Agriculture Implements
 Tourism viz.AdventureTourism, Health Tourism, Religious and Pilgramage Tourism, Leisure Tourism,Winter Sport etc
Note: UBIC is focusing on the above identified thrust areas, however, that does not exclude such enterprises which are subsequently found to have potential to provide accelerated stimuli for initiating incumbants’ employment.

What is the role of UBIC?
UBIC’s key roles are:
• Training and sensitization of target groups by providing guidance, technical assistance and financial support
related to successful establishment and running of the enterprise.
• Enabling support services
• Connecting the entrepreneurs’ with venture capitalists and financial institutions
Note: UBIC’s activities would be be suplemented by expertise and institutions already available in the state. During the hatching phase ideas nurtured by the trainees would be closely monitored by activity specific experts, so, that the viability of business plans is determined on genunine and market driven considerations.
How does UBIC function?
UBIC is a not-for-profit organisation supported by the Ministry of Micro, Small, Medium Enterprises, GOI under the scheme “Support for Entrepreneurial and Managerial Development of SMEs”. The UBIC has a two tiered structure-University Innovation, Incubation and Entrepreneurship Council headed by the Vice Chancellor, representatives from industry and academia as members and senior Professor as Convener of the Council. Besides, a managing committee comprising of 09 members which work in sync with the council and funding agencies of GOI to fulfill its objectives.

How do I obtain support from UBIC?
UBIC calls for proposals through a rolling advertisement in the leading news papers in select areas from time to time. To receive support from UBIC, entrepreneurs’, private players, industry bodies, NGOs and other existing organisations need to submit a proposal in a prescribed format in response to the call for a proposal. Once the UBIC receives a proposal, it will be evaluated thoroughly by the managing committee. Subsequently the evaluation report will be placed before council for its approval. It will be accepted for support based on the recommendation of the council and is subject to clearance by the Office of the Development Commissioner, MSME, GOI. After the support is granted, UBIC will continuously monitor the use of funds, the progress of the project and its profitability.

What is the proposal evaluation process?
On receiving a proposal, UBIC will adopt a phased and detailed process. Detailed evaluation will be done across pre-defined sets of criteria. Among other things, proposals shall be evaluated based on the assessment of the managing committee, subsequently approval of Innovation, Incubation and Entrepreneurship Council will be sought after which the proposal shall be placed before the funding agency.

What are the criteria for consideration of proposals?

UBIC seeks proposals that are innovative. Among other things, proposals are evaluated based on the following guidelines:
• Sustainability of the business model in the medium to long-term
• Financial Viability of the proposal
• Income and Employment Generation

Where should the funds obtained from UBIC be utilized?
Funds can be utilized as envisaged in the scheme for Support for Entrepreneurial and Managerial Development of SMEs. The scheme can be accessed from university website as well as from website of M/O MSME, GOI.

I'm already running a business venture. Am I eligible for funding?
Yes

I'm an entrepreneur. Am I eligible for funding?
Yes. However, funding depends on the quality of the proposal. The entrepreneur shifts economic resources out of lower and into higher productivity and greater yield.

How can UBIC help me in nurturing my idea?
UBIC is keen on nurturing the innovative ideas which can lead to a “multiplier” effect on income and employment generation by providing mentoring, common facilities, use of infrastructure and other resources, besides facilitating the entrepreneurs’ to raise the seed money from financial institutions at subsidized rates. Proposals that deploy operating plans which leverage use of existing infrastructure are encouraged. Hence, proposals that can generate income and employment on sustainable basis will be looked at with special interest.

What are the support services provided by UBIC for nurturing my idea?
UBIC provides ready-to-use, dedicated space for housing and operation of the new venture selected for incubation. It facilitates access to basic infrastructural facilities, office facilities and laboratory/ facilities to nurture the idea of incubates. UBIC shall be responsible for arranging the resources for the day-to-day operation of the selected ventures

What type of support can the UBIC provide to my organization/me?
The UBIC looks at loan or equity funding and other support facilities depending on the type of proposal. The terms and conditions can be accessed from university website. For more details refer to cujammu.ac.in.

Where can I get more information about the UBIC?
The detailed policy and procedure format of business plan, pre-application questionnaire is available on university website www.cujammu.ac.in. Under UBIC section with a heading “Advertisement for Business Proposals”

What is UBIC and why was it formed?
UBIC is a non-profit organisation established for undertaking business incubation, entrepreunership development and intellectual property right protection activities. The activities include nucleation of new business ideas by creating the environment and opportunities for know how providers, entrepreneurs and financers to meet each other and form business teams. Nurturing businesses in their start-up phase by creating and running an efficient business. UBIC offers not only space but also access to technology support, business mentoring, networks, scientific and information resources, and a generally conducive and supportive environment. It enables promoting and running an active program for identification, creation, acceleration and translation (into practice) of business ideas suitable for new venture creation.
UBIC is primarily set up for promoting and encouraging entrepreneurial ethos and sensitization among the educated youth. It provides enabling institutional mechanism which facilitate emergence of new class of entrepreneurs. To help and assist the existing and prospective entrepreneurs to develop the acumen for visualizing the changes for successful adaptation to the emerging requirements of market in terms of acquiring skills and competencies about technology, finance, raw-materials, quality control, accounts and marketing techniques and strategies. It would therefore be possible to provide hatching period to enrolled incumbents to undergo training and mentoring of their business ventures from birth to take-off stage. Potential incubates would be encouraged to develop business plan based on local resources and enterprise, in small and medium units, keeping in view natural constraints of setting up large scale units.

Why has university decided to set up UBIC to nurture the ideas of entrepreneurs?
UBIC is established to

• Facilitate entrepreneurial training and IPR facilitation
• Promote involvement of faculty in startup activities
• Ensure interaction between education and industry
• Alignment of education with exact market demands
• Active involvement of the faculty in the technology start-up activities