Innovation And Start-UP Policy AT Galgotias University

SN	Contents
1	Preamble
2	Strategies and Governance
3	Startups Enabling Institutional Infrastructure
4	Nurturing Innovations and Startups
5	Product Ownership Rights for Technologies Developed at University
6	Organizational Capacity, Human Resources and Incentives
7	Creating Innovation Pipeline and Pathways for Entrepreneurs at University Level.
8	Norms for Student Startups
9	Norms for Faculty Startups
10.	Pedagogy and Learning Interventions for Entrepreneurship Development
11.	Collaboration, Co-creation, Business Relationships and Knowledge Exchange
12.	University Support and Entrepreneurial Impact Assessment

15.1 Preamble

This policy document sets the vision for development and implementation of Innovation and Entrepreneurship activities at Galgotias University which aims to nurture Innovation and Entrepreneurship culture in the university It encourages the Undergraduate, Postgraduate and Doctoral degree candidates and faculties to undertake Entrepreneurship as a career option and set up a successful startup venture. This policy document is not rigid but flexible to incorporatesuggestions from various stakeholders. Any student, faculty, staff, parents of students, alumni & other stakeholders of the university can send mail their suggestion in regard to this policy to vc@galgotiasuniversity.edu.in.

15.2 Strategies and Governance

• Resource Mobilization

1. Investment in entrepreneurial activities should be a part of the university financial strategy. Minimum 1% fund of the total annual budget of the university should be allocated for funding and supporting innovation and startups related activities through creation of separate ‘Innovation fund’.
2. UCRD to focus on raising funds from diverse sources to reduce dependency on public funding. Bringing in external funding through government (state and central) such as DST, DBT, MHRD, AICTE, TDB, TIFAC, DSIR, CSIR, BIRAC, NSTEDB, NRDC, Startup India, Invest India, MeitY, MSDE, MSME, etc. and non-government sources
3. To support University’s proposed Technology Business Incubator (TBI) (Separate Section-8 legal entity to be established), potential collaboration with private and corporate sectors to generate funds, under Corporate Social Responsibility (CSR) as per Section 135 of the Company Act 2013.
4. Raising funds through HNI of University’s Alumni Network. Alumni Cell of the university to create a list of alumni who are potential HNI and willing to support the University Initiative for Innovation & Startup Incubation.

• For expediting the decision making, hierarchical barriers to be minimized, a separate “Advisory Board for Innovation & Entrepreneurship at Galgotias University” will be established.

15.3 Advisory Board Structure:

Sr.no.	Designated/nominated official/faculty from the university	Role in Board
1	Chancellor	Chairman
2	CEO of the University	Patron
3	Vice-Chancellor & Pro-VC	Patron
4	Appointed Faculty from the University (Self-Driven passionate towards Startups & Entrepreneurship, Must have experience of handling Entrepreneurship programs & Mentoring Startups)	Faculty in- charge of Innovation & Startup Center
5	CEO/Manager of Proposed Business Incubator	Start-up Incubation
6	Alumni Entrepreneurs (4 in no.)	Potential Investor
7	External Investor	Connecting with Investor
8	GoI Representative	Advising on GoI funding
9	CEO of nearby Incubation Center (funded under DST/AIM)	Advisor

All the Deans, Program Chair, Faculty members are advised to keep innovation and entrepreneurial agenda of the University as a major focus area in all events, conferences, programs etc. Separate track/session on innovation & entrepreneurship should always be part of any conference/event. Also achievement of Student/Faculty in Innovation & Entrepreneurship must be promoted in all presentations respective Schools of Galgotias University.

15.4 Startups Enabling Institutional Infrastructure

1. Pre-incubation facility (e.g IIC-GU, e-Cell. Start-up Community etc.) And Incubation Center having co-working space and will be able to accommodate 20 start-ups at a time.
2. This Pre-Incubation/Incubation facility will be accessible 24x7 to students, staff and faculty of all schools and departments across the university with proper discipline & monitoring.
3. Incubation Center facility will be within the University Campus and it will be under a separate proposed Section-8 legal entity.
4. Other facilities such as Prototype center, Tinkering Lab, FabLab will be created by raising funds under various government sources and mobilizing resources from internal and external sources.
5. Zero rental fees will be charged for Startups from Galgotias University availing Incubation facilities for first one year (may vary on case to case basis)

15.5 Nurturing Innovations and Startups

1. Entrepreneurship Development Cell & Student e-Cell will be given key importance for facilitation & conduct of events at University/
2. Student/Faculty Start-ups may use University Address as their company official address by getting prior approval duly signed by Vice-Chancellor/Registrar on letter head.
3. Students will be allowed to take a semester/year break (or even more depending upon the decision of the review committee composed of Dean-Academics, Controller of Examinations, Respective school dean, Faculty mentor and any other member nominated Hon VC) to work on their startups and re-join academics to complete the studies. Student entrepreneurs can also earn academic credits (max 8 only) for their efforts while creating an enterprise. Review committee for award of credit for startup incorporation, will assess students who have apply to avail credits under Startup Incorporation, and based on the recommendation, max 8 credits in equivalence to elective subjects/course (Core subjects cannot be included)
4. Award of internal marks for students winning Innovation competitions/Business Plan Competition.
5. Faculty and staff will be allowed to take off for a semester / year (or even more depending upon the decision of review committee constituted by the VC of the University) as sabbatical/ unpaid leave/ casual leave/ earned leave for working on startups and come back. University will also consider allowing use of its resource to faculty/students/staff wishing to establish start up as a fulltime effort. A clear guideline is given in Norms for Faculty Start-ups.
6. School of Business to start MBA specialization in (entrepreneurship and venture development) and PGDM in (Innovation, entrepreneurship and venture development) with batch size of 20 from Academic Year 2021-22.
7. Participation in startup-related activities will now onwards be considered as a performance activity of faculty in addition to teaching, R&D projects, industrial consultancy and management duties and will be considered while evaluating the annual appraisal of the faculty.
8. Product development and commercialization as well as participating and nurturing of student startups will now be added as assignment for faculty-duties in addition to their regular duties and each faculty may choose either product development or Mentoring Student Start-up or both (in addition to minimum required teaching and guidance) and then respective faculty are evaluated accordingly for their performance and promotion.

15.6 Product Ownership Rights for Technologies Developed at University

1. In case of university facilities / funds are used substantially on Product/Prototype development OR when IPR is developed as a part of curriculum/ academic activity, IPR is to be jointly owned by inventors and the university.
2. Inventors and university could together license the product / IPR to any commercial organisation,with inventors having the primary say. License fees could be either / or a mix of
1. Upfront fees or one-time technology transfer fees
2. Royalty as a percentage of sale-price
3. Shares in the company licensing the product
3. As academic organization, university cannot be allowed to hold the equity as per the current statute, so GU Proposed Incubation Center (Established as section-8 SPV) willhold equity on university’s behalf.
4. If one or more of the inventors wish to incubate a company and license the product to thiscompany, the royalties would be no more than 4% of sale price, preferably 1 to 2%, unless it ispure software product. If it is shares in the company, shares will again be 1% to 4%. For a puresoftware product licensing, there may be a revenue sharing to be mutually decided between the university’s consultancy cell or its incubation unit and the incubated company.
5. In case of, if product/ IPR is developed by innovators not using any university facilities, outside office hours (for staff and faculty) or not as a part of curriculum by student, then product/ IPR will be entirely owned by inventors in proportion to the contributions made by them. In this case, inventors can decide to license the technology to third parties or use the technology the way they deem fit.
6. University IPR cell or incubation center will only be a coordinator and facilitator for providing services to faculty, staff and students. They will have no say on how the invention is carried out, how it is patented or how it is to be licensed.
7. All decision-making body with respect to incubation / IPR / technology-licensing will consist of faculty and experts who have excelled in technology translation. Other faculty in the university’s school will have no say, including deans, programs chairs or registrars.

15.7 Organizational Capacity, Human Resources and Incentives

1. University will recruit staffs that have a strong innovation and entrepreneurial/ industrial experience, behaviour and attitude. This will help in fostering the innovation & entrepreneurship culture.
2. Faculty and Schools of the university have to work in sync and cross-school linkages should be strengthened through shared faculty, cross-faculty teaching and research in order to gain maximum utilization of internal resources and knowledge.
3. Faculty and staff will be encouraged to do courses on innovation, entrepreneurship management adventure development. Also, to attend Innovation & startup event organized by IITs & Institute of National Importance, faculty will be sponsored from the university. Sponsorship will be as per the existing norms of the University or as decided by competent authority.

HR of the university to develop academic and non-academic incentives and reward mechanisms for all staff and stakeholders that actively contribute and support entrepreneurship agenda and activities.

15.8 Creating Innovation Pipeline and Pathways for Entrepreneurs at University Level

1. Creating Design Thinking Approach & more focus on problem solving assignment within learning framework. All faculty members are advised to keep one assignment in their respective subject on real life problem solving & case studies.
2. Student Startup Program (Embedded within curriculum)
3. The university to link their startups/innovator with wider entrepreneurial ecosystem and by providing support to students who show potential, in pre-startup phase. Connecting student entrepreneurs with real life entrepreneurs will help the students in understanding real challenges which may be faced by them while going through the innovation funnel and will increase the probability of success. MoU with organizations like Wadhwani Foundation, TiE, Head start Network etc.
4. Institution’s Innovation Council (IIC) of Galgotias University established MoE’s Innovation Cell will conduct various activities related to innovation, startup and entrepreneurship development.
5. A separate FAQ/Information document on Innovation & Entrepreneurship at Galgotias University will be created and upload on the home page on university’s website to answer the doubts and queries of the students/innovators and enlisting the facilities available at the institute.

15.9 Norms for Student Startups/Innovator

Following are the norms for Student Startups/Innovator:

• Student Start-up to be divided in three Stages namely:

❏Stage 1: Ideation Stage: Ideation Stage is the process of generating, exploring, and evaluating new technology/business ideas that can give the business proposed by the student entrepreneur a competitive advantage. The expert committee formed for the evaluation of the ideas should interview each entrepreneur and analyze the business potential and feasibility.

❏Stage 2: Teaming & PoC Development: Team Formation is the key for an

entrepreneur in commencing his journey before starting his own company. The team should ideally have a mix of co-founder with complementary skill sets. Having a complementary set of experience is very important for a well- rounded team from the inception. The team must have developed Proof of Concept (PoC). Expert committee comprising of UCRD, IPR In-charge, Dean of Respective School, Senior Faculty Nominated by Hon VC and FacultyIn charge for Innovation & Entrepreneurship; to assign Technology Readiness Level (TRL) as follows:

• TRL 0: Idea. Unproven Concept, No testing has been performed
• TRL 1: Basic Research. Principles postulated and observed but no experimental proof of concept available
• TRL 2: Technology Formulation. Concept and application have been formulated
• TRL 3: Applied Research: First Laboratory test completed; Proof of

Concept (PoC)

• TRL 4: Small Scale Prototype built in a laboratory environment (“Ugly” Prototype)
• TRL 5: Large Scale Prototype tested in intended environment
• TRL 6: Prototype System tested in intended environment close to expected performance
• TRL 7: Demonstration System operating in operational environment at

pre-commercial scale

• TRL 8: First of kind commercial system. Manufacturing issues resolved
• TRL 9: Full Commercial application: Technology available for

consumers

• It is expected that Student Start-up should progress to next level after every progress review

❏ Stage 3: Minimum Viable Product Developed/ Business started/Company Formation: The minimum viable product for Technology Idea to be developed and this to be certified by the experts for commercialization or Technology Transfer (IPR Cell)

OR

If it is a business service idea, the company or legally recognised entity should start the business operation as per the business plan and start generating Income (Company mandatory to sign MoU for incubation at GU)

• For Incubated Student: In return of services offered (Space, Infrastructure, mentorship, seed fund, accountant and legal and patent support) and use of facilities at university/incubation unit may take 2-9.5% equity/stake in the startup/company incubated. However, this equity model is applicable only when no rental is charged. The equity and rental can be discussed on case to case basis over a term sheet.

Selection Process of Students

❏ Students who have won any Business Plan Competition, Hackathon, Innovation Competition will be directly selected as Student Entrepreneur.

❏ Galgotias University Pre-Incubation Center i.e IIC-GU & Entrepreneurship

Development Center will provide assistance to the student entrepreneur in the preparation of business plans including introducing the student entrepreneur to mentors/consultants to help them prepare the plan.

❏ The Student Startup Team will be given one Business Mentor, One

Technology Mentor and will be associated with one of the Center of Excellence (if required). Student Start-up will be provided with all

infrastructure facilities(only if vacant and available) to start operations without delay.

• Students shall not be allowed to avail relaxation and skip any of the examinations fixed by the university.
• Students should be encouraged to participate in nationally reputed idea competitions /

business plan competitions /entrepreneurship seminars/national-international hackathons etc. to gain maximum exposure. Duty leave may be given for this purpose. Students who win prizes at university / state / national level idea competitions / business plan contests may also be given up to 2% grace marks in the semester in which prize was awarded.

15.10 Norms for Faculty Startups

Following are the norms for Faculty Startups:

Kind of companies:

1. Companies jointly owned by the faculty members and graduating students/alumni (along with possibly others)
2. Companies owned by the faculty members (one or many) along with possibly others.
3. Companies owned by the graduating students, alumni along with possibly others. In such cases, the faculty members and students will be known as founding members of the board of the company.

• Role of Faculty: Faculty members would be owners of such companies and be a Director on the Board. Also, the faculty member may choose to play an operational role (Technical Advisor, CEO, Marketing Manager etc). The faculty member can choose one of the following options:

1. Take leave for 6 months surrendering EL/ML of the academic year and work full- time in the business.

1. Dedicate part or all of the days allocated for consultancy work to the business. However, under no circumstance the total number of days of non-university activities would exceed the university norms (weekly teaching load can be adjusted in 4 day in a week)

It should be noted that the faculty should take all possible steps to ensure that his/her duties and responsibilities of faculty at GU take precedence over all other activities.

1. A faculty member is expected to balance his outside managerial responsibilities with his academic responsibilities on full-time active duty in the university. This will also apply to the students/employees involved in these activities.

1. Faculty members can undertake projects that could be conducted at respective school of Galgotias University, and managed through their companies provided that the university overhead charges are duly paid as per the consultancy norms of the university.

• Allow faculty and staff may take off for a semester/year as sabbatical/unpaid leave/casual leave /earned leave for working on startup and come back.
• Disclosure and Compliance: Financial and non-financial disclosure agreement will be signed as per the existing university norms. Faculty is supposed to register his company within 3 month after taking leave and submit the self-attested copy proof of Company Registration with mention of CIN Number. Maximum 6 month can be given to submit Company registration proof, if faculty fails to do so; all policy advantages will stand void.
• No restriction on shares that staff and faculty can take as long as they don’t spend more than 20% of office time on the startup in an advisory or consultants role and don’t compromise with their existing academic and administrative work or duties, but can't take role of employee as CEO or other managerial role in his/her startup and cant draw salary from startup and can’t accept gifts from his own startup. He/she can take share on profit and dividend only if any from the startup as owner/shareholder.
• In case faculty/staff is drawing salary from university, university’'s/Incubation unit

stake/equity on startup should be limited to 20% of total share of faculty/staff or 9.5% of total stake whichever is minimum.

• Faculty must clearly separate and distinguish on-going research at the university from

the work conducted at the startup/company.

• Faculty must not involve research staff or other staff engaged in academic projects of university in activities at the startup.
• Methodology: A faculty company will necessarily be required for incubation at GU Incubation Center. In no case, Faculty can open companies outside University Campus. Faculty’s company main office has to be within the University Campus. For the incubation of the Faculty Company, evaluation will be as per the Incubation unit guidelines. Equity/ IP ownership can be discussed over case to case basis before finalizing the term sheet.
• Resolution of Conflicts: In situations in which the objectivity of a faculty member

could reasonably be questioned, the management at GU may establish an independent committee to take steps including (but not limited to) the following: to review the appropriateness of the proposed research for Startup to be conducted at University, to oversee the conduct of the research, and to ensure open and timely dissemination of the research outcome. The decision of the Governing Board, in this regard, would be final.

15.11 Pedagogy and Learning Interventions for Entrepreneurship Development

1. Student driven e-Cell organizing competitions, bootcamps, workshops, awards, etc. e-Cell of Galgotias University will be monitored by Faculty in-charge. More details on functioning in chapter 7.
2. University to start annual ‘GALGOTIAS ENTREPRENEURSHIP AWARDS’ in different categories such as Student Entrepreneur, Faculty Entrepreneur, Faculty Mentor etc. torecognize outstanding ideas, successful enterprises and contributors for promoting innovationand enterprises ecosystem within university. Details in chapter 7.
3. For embeddinginnovation culturewithin learning framework, the teaching methods will include case studies onbusiness failure and real-life experience reports by startups. Mapping such available case studies on start-up with respective courses offered by Schools in various programs to be exhaustedly done at department level. A compiled google spreadsheet collated at VC office level will be made available to all faculties for this exercise.
4. Galgotias Campuspreneur Program: Open credit course will be offered to all program to promote Campus Startup at University Campus. Batch size in one term would be max.100 students, in case of more than 100 students opting for the course; selection process to be kept in place.
5. Student achievers in Innovation & Startup to be made as Poster Boy/Girl or in various Pamphlets, prospectus, website etc. The process of selecting student will be transparent. More details in Chapter 7.
6. Entrepreneurship education will be imparted to students at curricular/ co-curricular/ extracurricular level through elective/ short term or long-term courses on innovation, entrepreneurship and venture development.
7. One Teachers assignment will be on student’s participation in Innovation & Startup events in term of the course. Rubrics for the same in Chapter-7.
8. Student projects andinnovations should be based around real life challenges. Pedagogical changes and Learning interventions developed by the university for inculcating entrepreneurial culture will be continuous process and will be constantly reviewed and updated.

15.12 Collaboration, Co-creation, Business Relationships and Knowledge Exchange

1. Stakeholder engagement with entrepreneurial ecosystem enablers will be prime objective. Stakeholder can be resource organizations, Technology Start-ups from the NCR region, social enterprises, alumni entrepreneurs, professional bodies and GoI representatives from Entrepreneurship promoting departments. Active engagement with them to get input for entrepreneurship and co-design the programs.
2. Round-Table Meetup with Stakeholder for Entrepreneurial Ecosystem: Once in a month or as per availability of required stakeholders. Agenda of meet-up will be communicated in advance & minutes will be documented.
3. Co-Incubation Model: Co-incubation is a concept where an incubatee can simultaneously part of two incubation center/institute& can avail facilities of both the center. Co-incubation MoU with nearby Incubators in NCR to facilitate exchange of student startup/innovator in between organization and the co-incubation partner.
4. Development of Innovation Knowledge Platform using in-house Information & Communication Technology (ICT) capabilities: An Idea portal to create open innovation exchange platform, will soon be developed by in-house expert.
5. MoU with other University/Institute: MoU with specified deliverables in terms of innovation & entrepreneurship. If University already has academic MoU for Student Exchange program, then more deliverables can be added within existing MoU or separate MoU can be signed.
6. Knowledge Exchange: Expertise of the university & other partner (Co-incubation or University) expertise should be leverage through knowledge exchange program. Separate program for Student & Faculty may be designed.

15.13 University Support and Entrepreneurial Impact Assessment

University Support

• Incorporation. The University may support the staff members and the students in the incorporation of the company in the form of incorporation fees and guidance. This may also include support extended to the company for annual maintenance of the company and any charges incurred towards its compliance.
• Seed Money: The University may provide funding support to the companies in the form of grant in aid, seed grant and loan.

Financial Support:

✔ Company Promoted by University: Fully funded by University Management (University’s Promoter will act as Angel Investor)Proposed Equity: 10 to 15 percent based on potential of market of the startup and business plan.

✔ Company Supported by University: Proposed Equity: 2-9.5% based on potential

of market of the startup and business plan. Equity stake will depend on what kind of support Staff/faculty/student has availed. In no case equity stake will be higher than 9.5% (following the National Innovation & Startup Policy)

• Mentorship and Guidance. University will provide necessary mentorship and guidance through the Incubator free of cost.
• Special Leaves. Staff Members are expected to ensure success of their Startups by dedicating efforts and time required. Keeping this in view University will allow Staff to involve in their companies in one of the following ways. A clear guideline in this regard is already mentioned in this document earlier in ‘Norms for faculty Startup’.
• Number of startups to promote: Maximum 10 startup in every three years but not more than five startups in a year. Committee for Entrepreneurship & Startup to select this 10 Startup in the month of December-January.
• All the startup support shall be started after one month based on provisional agreement and business plan. Based on satisfactory progress report as per commitment in business plan. The Institute authority will confirm the startup agreement.
• Startup support tenure: Maximum 1000 Days.

15.14 Entrepreneurial Impact Assessment

1. Assessment of University’s entrepreneurial initiatives such as pre-incubation, incubation, entrepreneurship education will be performed after every 6-month using following evaluation parameters.
2. Number of Events Organized by e-Cell& other schools related to Entrepreneurship/Startup: e-Cell & IIC-GU will take lead in organizing any entrepreneurship/startup event, yet respective schools may organize any entrepreneurship event such as Alumni Entrepreneur Talk, Webinar, Workshop, Startup Talk etc. at their level. Any event organized should be well documented & following numbers should be recorded & documented:

Title of Event

No. of Student Participated

No. of faculty participated

No. of External participants (Student+Faculty)

Date of Event

Publicizing on University/e- cell/IIC-GU Social media

1. Number of participation by Student/faculty Outside: All schools will provide the details of participation of their students in Innovation, Startup & Entrepreneurship Event along with proof to e-Cell in-charge& IIC-GU in following format:

Title of Event

Level (National/ International)

Organized By (Organization name)

Date of Event

Achievement if any

Certificate or any other proof available

For above respective school’s Dean may appoint one faculty coordinator to document the same. Also Student Extra-curricular based assignment may also be used to collect this information.

1. Details of beneficiaries for Courses on Innovation/Entrepreneurship/Startup: No. of Students at all level who have successfully attended Credit course on Innovation/Entrepreneurship/Startup offered or any NPTEL Course should recorded. School’s academic coordinator or University ERP coordinator must record this data in following format:

Title Course

Course Coordinator

Duration of Course (Start & End Date)

No. of Student passed

School

1. Details of Awards won by Faculty/Student in Innovation/Entrepreneurship: Must be documented at School level & provide the same to IIC-GU & e-Cell In- chargein following format:

Title of Event/Grant

Level (National/ International)

Organized By (Organization name)

Date of Event

Nature of Award (Mention if any cash or grant money)

Certificate or any other proof available

1. Details of Student Start-up: Student Startup started & running in an academic year will be documented by Faculty In-charge for e-cell& IIC in following format:

Name of Startup

Name of Student & Team members

Start Month

Stage of Startup (Idea/Prototype/ MVP/Growth)

Whether incorporated?

Any Achievement

1. Details of Faculty Start-up: Any faculty members who have incorporated Startup or part of any Startup in Director Capacity must provide the following information to Faculty In-charge for Entrepreneurship & Innovation.

Name of Faculty

Name of Company

Company CIN No.

Faculty DIN

Start date as Director

1. Details of Patent& other IPR filed/Granted: IPR cell will keep record of Patent filed/granted till date in following format:

Type of IPR (Patent/Copyright/ Trademark)

Student/faculty

Name of Inventor

Date of filing

Status

Reference No.

1. Details of Startup raising Fund

Name of Startup or Startup Project

Type of Funding (Seed/Series/Grant)

Amount of funding raised

Angel Investor/VC/ Gov Org

Month of Receiving fund

All above data will give a self-assessment of University’s Initiative in Innovation & Entrepreneurship. Also, this impact number will be reflected University participation in Atal Ranking of Institutions on Innovation Achievements (ARIIA). SWOT Analysis to be done at the end of each AY assessment & Action plan will be incorporated for next year to fill the gap.