- Applicants must provide the required details and proposal for making an admission in the REVA NEST.
- Applications for admission to REVA NEST will be made in the name of registered (unlisted) companies within the meaning of the Companies Act, 1956. Any and all applicants would be required to incorporate a “Private Limited Company with share capital” within six months of incubation
- The proposed idea for incubation must be technology based and innovative; if a similar product/technology already exists in the market, a value addition must be proposed.
- Before signing the agreement with REVA- NEST, companies/persons registering will have to submit following documents:
- PAN Card
- Soft copy of the passport size photo of all promoters
- ID and address Proof of Promoters (PAN CARD/DL/Passport)
- Two References (Clients/Academics/Any Other)
- Company Incorporation Certificate (to be submitted within 6months of registering at REVA- NEST)
- Executive Summary of Idea
- All incubates have to deposit 2 months rental as security deposit before joining to REVA- NEST (refundable upon exit).
- Maximum 4 seater space will be available for incubated companies (REVA- NEST may consider providing extra space on case to case basis)
The Registered Company would be allowed to exit from REVA NEST upon one or the following:
- Completion of stay for 24 months, unless the stay is extended by REVA NEST.
- Underperformance or unavailability of the business venture by respective incubated company, criteria for the same will be decided and applied by REVA- NEST management on the case to case basis.
- When the annual turnover of the company exceeds Rs. 1 crore or when the Company’s profit before tax exceeds Rs. 50 Lakhs annually.
- Raising substantial investment from angel investor/Venture Capital Fund/any other investor Rs 1 crore or more.
- When the number of employees of the Registered Company exceeds 20