Key terms

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KEY TERMS AND CONDITIONS

Key terms:

  • The selected startups have to commit to a full participation through-out the 12 months duration of the programme

  • K-SAP/C-SAP is an equity based programme. C-CAMP will take up to 4% of Equity or equivalent instruements. The equity transferred to C-CAMP towards the advancement will be based on the valuation of the company and the Valuation to Equity Equivalence table is given below:



    Valuation

    Equity

    INR 10 Crore or below

    4%

    INR 11-20 Crore

    3%

    INR 21-30 Crore

    2%

    INR 31 Crore and above

    1%

  • A valuation report duly prepared by a registered valuator has to be submitted by the selected start-up. The proposed valuation will be discussed between C-CAMP team, including C-CAMP’s Chartered Accountants and that of the Start-up. The valuation will be agreed upon by mutual discussion. In case a consensus is not achieved, C-CAMP will go with the valuation determined by it’s own team and CAs. The template Share Holding Agreement (SHA) is provided here.

Conditions:

  • Startup should be registered under Companies Act 2013.

  • Startup definition: An entity shall be considered as Startup:

    1. Upto a period of ten years from the date of incorporation/registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India.

    2. Turnover of the entity for any of the financial years since incorporation/registration has not exceeded one hundred crore rupees.

    3. Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.

    Provided that an entity formed by splitting up or reconstruction of a existing business shall not be considered a ‘Startup’.

  • At the time of applying, applicant should have signing authority to sign the Shareholding Agreement and the right to exercise or cause to be exercised any or all of the rights attached to transfer the equity.

Documents required for Due Diligence:

  1. Certificate of Incorporation

  2. Memorandum of Association

  3. Article of Association

  4. List of shareholders & Directors

  5. Incubation agreement if any

  6. License agreement if any

  7. Other agreements, Letter of Intents (LOI), Memorandum of Understanding (MOU), If any, please provide the details.

  8. Ethical/Regulatory approval to pursue the idea if any, at the time of application.

  9. Other documents necessary as per the program requirements.