KARE Startup Policy

(Drafted in line with MHRD’s National Innovation and Start-up Policy 2019 for Students and Faculty)

Faculty members and students of KARE are occupied in knowledge discovery and dissemination. Wherever possible, the outcomes from R&D exercises carried out by our members are expected to get translated into commercial products. KARE encourages enthusiastic faculty members to start companies, be on the committee of companies in positions such as Director, Chairman, CEO, Technical Advisor, etc. While allowing such a role, KARE assumes that faculty members will make all efforts to balance their academic responsibilities.

The general guidelines towards the start-up activities are listed below.

• KARE raises fund for start-up support and provides incubation support both financial and non-financial basis based on the merit of the project proposal.
  Not exceeding the number of days of non-institute activities, a faculty member may take a sabbatical leave (one semester or a academic year) for working full-time in the business or appropriate/pool the days allocated for consultancy work to the company. Faculty members required to support his start-up/company managerial engagements without affecting his academic engagements on full-time active duty in the institute. This will also apply to the students/employees involved in these activities. A faculty member should clearly distinguish on-going institutional research from work being conducted at the company.

• Trainees, fellows and students can be assigned to research projects that will lead to a direct financial benefit for the faculty member or company with appropriate permission from KARE.

  By paying the necessary overhead charges, a faculty member can get permission to run a project that could be conducted at KARE and could be managed through her/his company.

• KARE permits the use of laboratories, library and other such facilities by the founding KARE member. In return of services offered (space, laboratories, library mentorship, seed fund, accountant and legal and patent support) and use of facilities at KARE or KARE’s incubation unit may take 2 to 9.5% equity/stake in the start-up/company incubated. In case staffs is drawing salary form KARE, KARE’s stake/equity on start-up is limited to 20% of total share of staff or 9.5% of total stake, whichever is the minimum.

• KARE does not interfere with the IP rights for the technology developed by the company; however liability-free equity may be retained by the institute based on the use of the KARE resources. If fund and/or resource of KARE used substantially, then IPR should be made jointly by KARE and inventor and license together and revenue sharing among the parties.

• In case of a conflict of interest, the Vice-Chancellor can appoint a five member review committee to check the appropriateness. The decision of KARE would be the final and binding.