Post Sanction Guidelines for BIG Beneficiaries

Transcription

1 Post Sanction Guidelines for BIG Beneficiaries 1 P age

2 Index S. No. Particulars Pg. No. 1. Acceptance of Offer and Signing of agreement 3 2. Monitoring of Milestones and Completion of project 3 3. Change of PI 3 4. Extension of project duration 3 5. Budget re-appropriation 3 6. Change in the Shareholding Pattern 4 7. Individual to Company Conversion 4 8. Technology transfer/licensing 4 9. Due acknowledgement of BIRAC Support Sharing updates and achievement Foreclosure/Termination Merger/Acquisition Technology Readiness Level.6 2 P age

3 1. Acceptance of Offer and Signing of agreement: The grantee needs to convey acceptance on the offer for BIG grant and sign necessary documents within a maximum period of 21 days from communication of offer to the grantee by the partner, failing which, the offer for funding shall automatically stand cancelled and the project will be treated as withdrawn. 2. Monitoring of Milestones and Completion of project: The grantee is required to submit progress reports (soft copy pdf format only) periodically during the course of the project. The report is to be submitted on completion on every milestone. Next release for the project will be made only if the milestone report is found to be satisfactory by the partner. On completion of the project, a consolidated completion report is to be submitted within a period of 4 weeks from the completion date. The last release will be made only after submission of completion report. 3. Change of PI: This request is normally not accepted. However, in cases where the request is found to be justified by BIRAC, the new PI will be required to make a presentation before the Technical Expert Committee at BIRAC. Decision by the Committee will be based on technical capabilities and competence of the new PI. 4. Extension of project duration: As per new Guidelines, no extension is permitted for projects from 8 th Batch onwards. The project needs to be completed within the original proposed duration. 5. Budget re-appropriation: The grantee is required to limit the expenses under various heads as per terms of sanction order. In case the grantee foresees any deviation in planned budget heads (on account of reasons such as increase/decrease in equipment cost or rentals, need to engage an additional manpower, outsourcing an additional activity or conducting an experiment internally in place of outsourcing etc.), the grantee should initially try to meet the deviations from contingency. In case there is a major 3 Page

4 change, budget from one head may be moved to another, keeping the overall sanctioned budget same. However, such re-appropriation will have to be substantiated with necessary documentary proofs and shall require permission from BIRAC (through partner). 6. Change in the Shareholding Pattern: In case the grantee is a company, the grantee is not allowed to change shareholding of the company during the course of the project without prior permission from BIRAC. This is in view of the fact that such a change may impact eligibility of the company under BIG scheme. However, if the change is absolutely essential, the grantee will be required to seek necessary permission for the same from BIRAC (through partner). 7. Individual to Company Conversion: Since one of the goals of BIG is to promote creation of scientific start-ups, we allow an individual applicant to set up a new company and transfer the application/project to the newly formed company. The newly formed company will need to meet all eligibility criteria as per BIG Guidelines (version 2) and comply with the due diligence requirements. The Project Leader will also need to remain the same and need to be a promoter shareholder in the new start- up. 8. Technology transfer/licensing: Transfer/licensing related to technology/project funded under BIG is permitted even during the course of project. However, information regarding any such transfer/licensing needs to be immediately shared with BIRAC. 9. Due acknowledgement of BIRAC Support: BIG is a generous funding scheme by Government of India. We, therefore, expect all grantees to provide due acknowledgement to BIRAC support while publishing, marketing the resultant product(s)/process(es) by way of mentioning a statement as provided below: a. While publishing/presenting resultants of the project: 4 P age

5 The financial support of the Biotechnology Industry Research Assistance Council, Government of India for this project (title) is duly acknowledged b. While marketing the resultant products: The partial* financial support of the Biotechnology Industry Research Assistance Council, Government of India in development of this Product is duly acknowledged * Partial phrase to be mentioned in cases of co-funding only. Please note that use of BIRAC logo is not permitted without written approval. 10. Sharing updates and achievements: A grantee, who receives BIG support at any point of time during his/her entrepreneurial journey, becomes a valued member of BIRAC- BIG family, irrespective of the outcome of the BIG funded project. As a family, we love to hear updates from grantees and encourage grantees to be in touch with BIRAC by keeping us updated about developments and achievements, even after they graduate from BIG. 11. Foreclosure/Termination: The agreement signed between the partner and grantee provides for foreclosure/termination as follows: 11.1 In case, during the tenure of the Project, it is found that the Project or any Project component is not likely to lead to successful completion, BIRAC may decide to foreclose the Project or the Project component as warranted. The decision of the BIRAC shall be final in all respects. The BIG Innovator shall immediately refund any funds unutilized out of BIRAC s disbursements, after deducting the legally committed expenses to third party vendors, to BIG Partner, along with detailed accounts of funds received, utilized and unutilized. The entire outstanding amount as on the date of foreclosure will become due and payable immediately. 5 P age

6 11.2 The BIG Innovator may, before the completion of the Project, terminate this Agreement by giving three months notice in writing to BIG Partner/BIRAC. BIG Partner/BIRAC may also terminate this Agreement by written notice for committing breach of any term of this Agreement and either not rectifying it to the satisfaction of BIG Partner/BIRAC or not satisfying BIG Partner/BIRAC about its inevitability within a reasonable period. In the event of termination of the Agreement, no further disbursement shall be made by BIG Partner and the BIG Innovator shall be liable to return immediately the amount of grant-in-aid already availed of from BIG Partner with simple interest at the rate of 12 (twelve) per cent per annum within 30 (thirty) days of termination of the Agreement. In case of failure to repay, without prejudice to any other rights under this agreement, the amount can be recovered by initiating any procedure available in Law. 12. Merger/Acquisition: In case the BIG funded company is acquired by any other company (merger) or the funded company acquires another company (acquisition) during the course of project, the company would be required to inform BIRAC immediately about the same. Shareholding pattern consequent to such a deal will also have to be examined to assess continued eligibility of the company after merger/acquisition. 13. Technology Readiness Level: All BIRAC supported projects are assessed on a scale of 1 to 9 called Technology Readiness Level (TRL) scale. TRL is assigned to a project based on stage of development and the detailed parameters are enclosed at Annexure 1. Each project is assigned a TRL upon start and is then continuously monitored for shift in TRL during the course of project. a. Partners are required to assign TRL to every project and keep on monitoring for TRL jumps. 6 P age

7 Annexure 1 Technology Readiness Level (TRL) Table Stages of Product Pre- Commercialization/ Product Late Stage Technology Validation/Early Stage Technology Prototype Technology Readiness Level (TRL) TRL 9 TRL 8 TRL 7 TRL 6 TRL 5 TRL 4 Characteristics Technology ready for full scale commercial deployment Technology incorporated in commercial design Tech proven to work in final form in expected conditions Prototype ready. Integrated Pilot System demonstrated Prototype system verified by testing in the actual operational environment Lab testing of integrated system with support elements in a simulated environment High Fidelity Prototype Design, development & lab testing of tech components integrated, to establish that they will work together Low Fidelity Prototype Proof of Concept TRL 3 Critical function, proof of concept (PoC) established Laboratory studies aim to validate analytical predictions of separate components of the technology Ideation TRL 2 TRL 1 Applied Research: technology concept and/or application formulated Analytical Studies/Experimentation/Feasibility Assessment Basic Research: basic principles are observed and reported Fundamental investigations and Paper Studies