The AICs would create world class incubation facilities across various parts of India with suitable physical infrastructure in terms of capital equipment and operating facilities, coupled with the availability of sectoral experts for mentoring the start-ups, business planning support, access to seed capital, industry partners, training and other relevant components required for encouraging innovative start-ups.
AICs would be established in subject specific areas such as manufacturing, transport, energy, health, education, agriculture, water and sanitation etc.
Entities such as such as higher educational institutions, Research and Development institutes, corporate sector, alternative investment funds registered with SEBI, business accelerators, group of individuals, and individuals are eligible to apply.
AIM will provide a grant-in-aid of upto Rs. 10 crore for a maximum period of 5 years to cover the capital and operational expenditures to establish the AIC.
The applicant would have to provide at least 10,000 sq. ft. of ready-to-use, built-up space, for the exclusive use of the AIC.
The last date for submission of applications is on September 30, 2017.