Key Terms and Conditions are listed below:
Key terms:
- The selected startups have to commit to a full participation throughout the duration of the programme
- K-SAP is an equity-based programme and C-CAMP shall hold upto 2% equity or equivalent instrument (debentures, preferential shares).
- The template of agreement between start-ups and C-CAMP is provided here
Conditions:
- Startup should be covered within the definition of Start-up as prescribed by the Department for Promotion of Industry and Internal Trade (DPIIT)
- Startup definition: An entity shall be considered as Startup:
- 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.
- Turnover of the entity for any of the financial years since incorporation/registration has not exceeded one hundred crore rupees.
- 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 an 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:
- Certificate of Incorporation
- Memorandum of Association
- Article of Association
- List of shareholders & Directors
- Incubation agreement if any
- License agreement if any
- Other agreements, Letter of Intents (LOI), Memorandum of Understanding (MOU), If any, please provide the details.
- Ethical/Regulatory approval to pursue the idea if any, at the time of application.
- Other documents necessary as per the programme requirements.