For Direct Candidates

Each project funding will be treated as a loan to the project from NirmaLabs (to be re-paid from commercial success of the project). Repayment of the loans by the incubated ventures will sustain NirmaLabs’ activities and reduce the need for recurring funds.

As the concept of NirmaLabs is based on grooming individuals and not specific ideas, direct candidates are expected to pay for the grooming exercise (Rs. 50,000), and also for use of facilities, lodging and boarding (Approximately Rs. 46,000).

Special fee structure for pre-formed teams

For pre-formed teams applying simultaneously, we have a “special fee structure”. The “grooming fees” component for the first member will be Rs. 50,000. Every additional team member will need to pay a “grooming fee” of Rs. 25,000 each. All other charges like use of facilities, lodging and boarding, etc will remain unchanged (approximately Rs. 46,000 per person).

In such cases each team member would have to apply separately and get evaluated on individual merit.

This special fee structure applies only if the pre-formed team submits a common incubatable business plan.

Intellectual Property Rights

The rights to intellectual property, for NirmaLabs funded projects belong to NirmaLabs and will be assigned to the start-up company when it is venture financed. When a NirmaLabs funded project is ready to be spun-off as a “start-up” company, the equity structure will be as shown below:



The other unique feature of NirmaLabs is the concept of a “Pool Company” to create a mechanism to share success. The Pool Company has a 5% equity in every start-up company incubated/funded by NirmaLabs. Every start-up company is given equity in the Pool Company. As the number of incubated enterprises grows, this pool will become larger. Thus, any enterprise which makes it big will yield more gains for the rest of NirmaLabs incubated start-ups.

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