Professional Documents
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03 Terms of Engagement With External Advisors
03 Terms of Engagement With External Advisors
in
info@venturecente
er.co.in
Phoone: 020-640
011026
(En
ntrepreneurship Developm
ment Center) 100
0, NCL Innov
vation Park, Dr.
D Homi Bha
abha Road, Pune-411008
P 8, India.
Date:
To,
Subjectt: Terms of EEngagemen nt for Ventuure Center w with Externaal Advisors
Dear Sirr/Madam:
Thank yyou for agreeeing to volunteer your time as paart of Ventu ure Center’ss advisory panel for
2013‐20 014.This lettter aims to describe thhe Advisoryy program att Venture C Center and tthe
expectaations that ssurround it –for both tthe advisor and Venturre Center beeneficiary.
As part of Venture Center’s ad ure Center cclients receiive advice related
dvisory servvices, Ventu
to the ffollowing arreas:
• Business Planning: These iinclude sharpening value proposittion, definittion of markkets/
indu ustry/ custo
omer, financcial projectiions, milesttones and riisk planningg and creating a
business plan d document.
• Inteellectual Pro operty & Technology Commercialiization: Theese include p preliminaryy
pateentability analysis, IP laandscapes, IP portfolioo analytics &
& planning, basic IP kno owhow
& innfringementt issues, etcc.
• Nutts‐and‐Boltss (Operation ns): These innclude commpany incorp poration, finnancial &
acco ounting setup, HR proccesses, impo ort/export basics, reguulatory requ uirements, e etc.
• Scieence & Tech hnology: Theese include technologyy road‐maps, strategy ccreation & due
diliggence; with an emphassis on chem mical, materiials and biological scien nces;
instrumentatio on, scientificc software, informaticss, and scientific servicees.
• Fund Raising: TThese includ de planningg & matching startup caapital requirements with
apppropriate sources of fun nding; ranging from go overnmentaal agencies ((eg. DST,
MoMSME) to H HNIs/angelss and professsional inve estors such aas venture ccapital firms.
• Marrket Researrch : Using aa variety of India‐speciffic databasees (eg. IndiaaStat, CMIE
Prow wess, CMIEE EIS, industry reports, news archivves, etc.) Veenture Centter can provvide
insigghts into sp
pecific markket segmentts in India, including:
• Marke et size, segm
mentation & & growth rattes
• Key co ompetitors ((revenue, m market share e, positionin
ng, etc.)
• Key product/technology tren nds
The outtput of this work is inteended to heelp the clien nt's decision
n‐making prrocesses rellated to
the purrsuit of a pro oduct‐markket opportunity in Indiaa.
Thee “Entrepreneurrship Developme ent Center” is in
ncorporated und
der Section 25 of
o the Companie es Act, 1956 (India).
"Ventu
ure Center is a member
m of the Indian
I STEP an nd Business Incubator Associattion (ISBA) and the National Buusiness
Incubation Association (NBIA)."
www.venturecenteer.co.in
info@venturecente
er.co.in
Phoone: 020-640
011026
(En
ntrepreneurship Developm
ment Center) 100
0, NCL Innov
vation Park, Dr.
D Homi Bha
abha Road, Pune-411008
P 8, India.
Terms o of advisory services arre attached in Annexurre A.
Associate Memberrs of Venturre Center via Eklavya P Program can n also avail AAdvisory services.
Terms aare attached d in Annexu ure B.
Terms aand Conditiions
1. Advisor Asssignment:
When tthe scope o of advice requested byy the client is beyond tthe scope o of Venture C Center’s
internal team of aadvisors, Veenture Centter will mattch the specific compaany needs w with the
externaal advisor beest able to meet thosee needs. The incubatio on team at V Venture Center will
facilitatte the initial interaction between company aand advisor.. Subsequen nt interactio ons may
or may not involvee Venture Center staff.
2. Time Comm mitment:
Venturee Center will manage yyour involveement in the e Advisory sservices pro ogram such that
your vo olunteer tim me commitm ment does n not exceed o one hour peer week witthout prior
approvaal from you.
3. The Adviso ory Engagem ment:
The role of the exxternal advisor is to prrovide advicce and inpu ut on strateegic issues tthat are
critical to the development of
o the cliennt companyy. It is not expected
e th
hat the advvisor will
spend time
t and effort
e on th
he production of delivverables (fin nancial model, busine ess plan,
marketing plan, ettc.). The advvisor may o offer advice on the preparation off these delivverables
by the ccompany orr critique th he deliverab ble as it is be
eing preparred by the ccompany.
From tiime to time, however, it may be b desirable e for the company
c too interact with
w the
advisor in a broad der fashion such that yyou are mo ore directly involved in n the produ uction of
deliveraables. While clearly outside of the Advissory servicees program m, Venture Center
encouraages this prractice and in many casses will request the advisor to sub bsidize the e expense
associatted with this
t interacction for Venture
V Ceenter clientts. If such a relation nship is
envision ned, Venture Center should
s be involved fro om the outset so the subsidy am mount, if
any, can n be clearlyy understood by all parties.
4. Confidentiaality:
Venturee Center an nd its emplo oyees main ntain a high standard o of ethics an nd expect th he same
from itss volunteerrs. Advisors and Venture Center e employees w will make their best effforts to
maintaiin confidentiality of eaach compan ny's proprie etary inform mation. How wever, this is not a
bindingg commitmeent and advvisors are no ot required to sign NDA As.
5. Feedback aand Evaluattion:
Venturee Center wiill gather feeedback fro om both advvisors and client comp panies on aa regular
basis. TThis feedbacck will help Venture Ceenter determ mine the vaalue of the aadvisory sesssion for
both the entrepren neurs and the advisorss.
Thee “Entrepreneurrship Developme ent Center” is in
ncorporated und
der Section 25 of
o the Companie es Act, 1956 (India).
"Ventu
ure Center is a member
m of the Indian
I STEP an nd Business Incubator Associattion (ISBA) and the National Buusiness
Incubation Association (NBIA)."
www.venturecenteer.co.in
info@venturecente
er.co.in
Phoone: 020-640
011026
(En
ntrepreneurship Developm
ment Center) 100
0, NCL Innov
vation Park, Dr.
D Homi Bha
abha Road, Pune-411008
P 8, India.
6. Conflicts off Interest:
Advisors should disclose any potentiial conflictss of intereest to both Venture Center
Incubattion team and the clien nt companyy at the time e that the coonflicts arisse.
7. Liability:
The natture of thee advisor‐co ompany rellationship is advisory only. Entreepreneurs take t full
responssibility for aall business decisions m made with o or without tthe guidancce of their aadvisors.
Specificcally, all Veenture Center client companies
c agree to indemnify aand hold harmless
h
Venturee Center an nd individuaal advisors ffrom any claim, action n, liability, o
or suit arising from
actions taken by the compan ny as a resu ult of advice e offered byy the adviso ors and/or Venture
Center. This indem mnity does n not extend tto an expan nded fee‐forr‐service relationship b between
you and d the client company.
8. General Gu uidelines:
For their contributtions and in nputs duringg the Adviso ory session,, the adviso ors shall nott receive
any com mpensation n. This shalll be purelyy a voluntaary and hon
norary activvity. However, the
advisor and clientt may work on a com mpensation n‐based mo odel outside of the scope of
Venturee Center’s A Advisory Serrvices Progrram if they wish to.
Thank you
y again for f your intterest in Veenture Centter and ourr volunteer advisory program.
p
Please cconfirm you ur acceptannce of the provisions ou his letter byy signing and dating
utlined in th
as indiccated below w. Return the original to o me and re etain a copyy for your files. If you hhave any
questioons or need d additional information, please contact me m at eitherr 020‐64011026 or
manageerincubatorr@ventureccenter.co.in.
Thank yyou,
With warm regards,
Veena R Radhakrishn nan
Manageer‐Incubato or
Entreprreneurship Developmeent Center (V Venture Center)
Signed by Advisor
Name:
Date:
Thee “Entrepreneurrship Developme ent Center” is in
ncorporated und
der Section 25 of
o the Companie es Act, 1956 (India).
"Ventu
ure Center is a member
m of the Indian
I STEP an nd Business Incubator Associattion (ISBA) and the National Buusiness
Incubation Association (NBIA)."
www.venturecenteer.co.in
info@venturecente
er.co.in
Phoone: 020-640
011026
(En
ntrepreneurship Developm
ment Center) 100
0, NCL Innov
vation Park, Dr.
D Homi Bha
abha Road, Pune-411008
P 8, India.
A
Annexure A
A
FA
ACT SHEET// TERMS AN ND CONDITTIONS: Advisory Services
(Last revvised: 16 Ap
pril 2013)
FEATUR RES
Each ad dvisory engaagement may include o one or more e of the folllowing services:
1. Basic intellecttual property analytics, initial patentability analysiss, IP landscaping,
prelliminary prior art searcch, referral to patent drafting/filin ng firms, etcc.
2. Basic business nuts & bolts issues su uch as commpany formation, finan nce/accounting, HR
proccesses, etc.
3. Business strateegy & planning, second dary markett research, eetc.
4. Iden ntification && referrals tto funding ssources, me entors, etc.
5. Marrket and ind dustry insights
ELIGIBILLITY
• Thee Advisory Services
S shaall be availaable for enttrepreneurss/ventures related to science,
techhnology, en ntrepreneurship, busiiness/ventu ure develop pment, edu ucation and some
relaated activitiees.
• Thee managemeent of the V Venture Cen nter shall exercise judggment in m making availaable the
(free as well as
a paid) Ad dvisory Servvices to an Applicant to ensure that each advisory
a
enggagement sh hall be in tu une with inttellectual environmentt and brand d equity of the NCL
Innoovation Park.
TERMS
• PAYYMENT TERM MS
o Paymen nt is to bee made in advance of o each paid advisory engageme ent. The
duration of each engagemen
e nt will be mutually
m agrreed upon by Venture e Center
and Applicant and d the corressponding paayment shaall be madee in advance e by the
Applicant.
o Paymen nt is accepttable by DD D or cheque e payable in
i Pune or at Par or could
c be
depositted directly into the Veenture Center’s bank acccount.
• TER RMS
o Applicant shall not (intention nally or oth
herwise) do anything tto suggest that
t the
Venturee Center orr NCL as beiing party to o the venturre / activityy for which Venture
Center’s advisory sservices were engaged.
o Applicant shall nott hold Venture Centerr responsible for any liiabilities dirrectly or
indirecttly related to Venturee Center’s advisory
a services, inclu
uding any referrals
r
provideed by the Venture
V Center. Appliccant acknowledges th hat Venture e Center
has no control wh hatsoever over
o the activities of any
a of the parties to which
w it
Phoone: 020-640
011026
(En
ntrepreneurship Developm
ment Center) 100
0, NCL Innov
vation Park, Dr.
D Homi Bha
abha Road, Pune-411008
P 8, India.
Phoone: 020-640
011026
(En
ntrepreneurship Developm
ment Center) 100
0, NCL Innov
vation Park, Dr.
D Homi Bha
abha Road, Pune-411008
P 8, India.
arbitrattor(s) to be appointed by Chairmaan of Ventu ure Center. TThe arbitration will
be connducted byy such arb bitrator(s) in accordaance with the provissions of
Arbitrattion and Coonciliation A
Act‐1996.
o This Agreement an nd the partiies’ rights and obligatio
ons under itt shall be go
overned
by and interpreted d in accordaance with tthe laws of India. The jurisdiction
n will be
courts oof Mumbai..
PRICING G
One‐time free advvisory engagement, folllowed by p paid advisorry engagements if & wh hen
requessted by applicant.
The du
uration of thhe free, onee‐time only,, advisory engagementt shall be on ne (1) hour, to be
scheduuled at the d
discretion o
of Venture CCenter.
The du
uration of eaach paid addvisory engaagement shall be in mu ultiples of one (1) hourr, to be
scheduuled at the d
discretion o
of Venture CCenter. App plicant shall determine the duratio on
neededd for each eengagement after discu ussion with Venture Ceenter.
The ratte for each paid adviso
ory engagem ment will be e Rs 500 (fivve hundred)) per hour.
Note: Service tax aand other taaxes applicaable at the p
prevailing raate shall in addition to the
above.
For stan
ndard disco
ounts, please visit http://www.ven nturecenterr.co.in/disco ounts.php
Annexure B
B
Eklavyaa Program: TTerm sheet
FEATUR RES
• Thee program aims to supp port and nurture entrepreneurial sscience‐bassed compan nies
withh advice and d referrals, service offeerings, acce
ess to resources, for neetworking and
visib
bility.
• Thiss service pro ovides autoomatic enrollment into Associate Incubatee P Program of
Vennture Center. An Associate Incubatee shall be ecome a braand conveyiing a spirit o of
“Sciientific Inno
ovation” and d a compan ny that bringgs high ethical standarrds and has access
to q
quality serviices, relevannt resources and rich n networks. Sttart‐ups thaat are not re esident
in N
NCL Innovation Park will get an op pportunity tto use the associated b brand value.(See
detaails at www w.venturecenter.co.in/aaip)
• Servvices: Advisory Service, permission to use Asssociate Incu ubatee Logo o ( for start‐‐ups
thatt are not resident in NC CL Innovatio VC library membership,, institutional
on Park) , V
mem mbership off IPFACE.
• Disccounts availlable on infrastructural support & & scientific faacilities.
Thee “Entrepreneurrship Developme ent Center” is in
ncorporated und
der Section 25 of
o the Companie es Act, 1956 (India).
"Ventu
ure Center is a member
m of the Indian
I STEP an nd Business Incubator Associattion (ISBA) and the National Buusiness
Incubation Association (NBIA)."
www.venturecenteer.co.in
info@venturecente
er.co.in
Phoone: 020-640
011026
(En
ntrepreneurship Developm
ment Center) 100
0, NCL Innov
vation Park, Dr.
D Homi Bha
abha Road, Pune-411008
P 8, India.
TERMS & CONDITIONS
• Min nimum: 6 m
months
• Doees not entitlle client to u
use name o
of NCL/Ventture Center independent of their
asso
ociation as aan Associate Incubateee of Venture
e Center . C
Client shall rrepresent
themmselves only as Associate Incubattees of Ventture Centerr.
Categorry Service offfering
• Clients shall rreceive monnthly 5 hours of adviso ory services free of
co
ost.(Value: RRs 2500 for 5 hours)(Seee details off benefits at
(http://www.venturecen nter.co.in/aadvisory_services.php)
• Addvise will bee focused in
n following aareas:
o Fund raising
o Business planning
o Strate egy & comp pany management
Advise aand
o Financial plannin ng & management
referralls
o IP & technology c commercialization
• Sppecial focus: Referrals ffor bio‐tech
h related isssues
• 200% discountt on Venture Center’s aadvisory serrvices for ovver 5 hours
• Thhe Venture Center will make efforrts to conneect AIP mem mbers to anyy
oppportunitiess relating to
o events, funding, netw working etc from time tto
tim
me as the opportunitie es arise and come to th he Venture CCenter’s
atttention.
• Peermission too use the ab
bove logo (AAssociate In
ncubatee – VVenture
Ceenter). Perm
mission to declare/ ann nounce mem mbership in
n the Associate
Incubatee Pro ogram of Veenture Centter. Only for non‐ resid
dent
Visibility and incubatees.
brandin ng • Lissting on Ven
nture Centeer’s websitee
(http://www.venturecen nter.co.in/aaip/memberrs.php ) as aan Associate
Incubatee Pro ogram mem mbers
• Diiscounted services (Disscount = 10% %): Websitee developm
ment and
Websitee maintenancee (See detaills of servicees at
develop
pment htttp://www.vventurecenter.co.in/seervice_offerrings.php )
• Diiscounted services (discount = 10%
%) : Meeting Room, Bo oard Room,
Infrastructural
Trraining Room
m, E‐ClassRoom, Cafeteria (See deetails of serrvices at
supportt
htttp://www.vventurecenter.co.in/seervice_offerrings.php )
• Diiscounted services (discount = 10% %) : Hot labs, Analyticaal services (SSee
Scientiffic facilities deetails of lab//scientific sservices at
htttp://www.vventurecenter.co.in/lab.php )
Phoone: 020-640
011026
(En
ntrepreneurship Developm
ment Center) 100
0, NCL Innov
vation Park, Dr.
D Homi Bha
abha Road, Pune-411008
P 8, India.
Library and • Institutional mmembership of Venturre Center Library (Value: Rs 8000 per
Informaation yeear) (See deetails of ben
nefits at
servicess htttp://vcenteerlibrary.orgg/membersship.php )
• Institutional m
membership of IPFACEE (Value: Rs 2000 per year) (See
IP relateed services
deetails of ben
nefits at http://www.ip
pface.org/m
membershipp.php )
• Acccess to bioo tech worksshops & training programs at discounted
For bio‐‐tech, bio‐
incubatee rattes.
mass, b
bio‐
• Inclusion in BBIO‐PUNE ne etwork
engineeering & bio‐‐
• Veenture Centter expertise and servicce offeringss for Bio inccubators aree
med companies
lissted at http://www.biooincubator.vventurecenter.co.in/
G
PRICING
• Rs 1500 per month for ccompanies no ot residing at NCL Innovaation Park
• Rs 1100 for V
Venture Cennter incubateees