This is a mandatory requirement and no application for incubation shall be entertained if the applicant has not incorporated a private/public limited company under the Companies Act.

The companies promoted by Faculty of IIT Kanpur shall be governed by Faculty Entrepreneurship Policy as approved by the Institute. The companies promoted by students enrolled for full-time Degree at an educational institute shall not be offered incubation if the student is holding an Executive position; however, companies promoted by students are eligible to apply for incubation provided the student is not actively engaged with the company beyond any engagement which may be permitted by the Institute.

A company if promoted by regular Government staff or employee shall be granted incubation only upon submission of 'No Objection Certificate' from the competent authority or employer. However, companies having employees as shareholders are eligible to apply for incubation.

Any company that is engaged or proposing to be engaged in imparting educational courses and/or training programs including vocational trainings or is planning to undertake such activities during or after its incubation at SIIC is not deemed eligible for incubation and their application will not be entertained.