Student generally known as entrepreneurs who has ideas of any scientific discovery or inventions are welcomed to develop this idea in any of our centre. The following steps and requirements should be met before NBTI can help you.

ADMISSION CRITERIA INTO TECHNOLOGY INCUBATION CENTRES

The process for accepting application into the technology incubation centres are as follows

•  Business plan: There must be a business plan

•  Innovation: There must be value added

•  Technological viability: The product must be technologically viable and the TIC has the ability to provide required technical support.

•  Financial feasibility:The proposed budget and time frame in the business plan must be realistic and achievable

•  Market Potential: Priority should be given to projects that are marketable in the national Regional and global market.

•  Economic benefits: Projects must provide economic benefits in terms of job creation, new business opportunity or meeting with socio economic objectives of the area in particular and the nation in general.

•  Patent Technology should be given priority.

•  Qualification and Experience. The key Technical and managerial of the key members of the management team must be suitable and adequate to pursue the venture

•  Integrity: The entrepreneurs must be people of good social responsibility

•  Competition: Projects should not be in competition with another in the same TIC

EXIT CRITERIA

  The graduation criteria for an entrepreneur undergoing incubation in any TIC are as stated below.

• i. Incubation period: The minimum incubation period is 3 years while the maximum is 5 years. At the expiration of maximum period, the entrepreneur must leave the TIC.

• ii. Performance Indicator: The following performance indicators are to be met for entrepreneur to graduate from any TIC.

Sales Growth – 300% at the end of three years.

Profit Growth rate – 100% at the ends of 3 years

Direct Job Creation – 200% at the end of 3 years

Asset Growth – Must be positive

• i. Space limitation: entrepreneurs who have progressed and expanded beyond what the available incubation units allocated to them can accommodate, must leave the TIC.

• ii. Value Added Limitation: Entrepreneurs who has progressed and expanded beyond the TIC's capacity who provide sufficient value addition should graduate and ultilise 1pirvate sector providers.

•  Pre graduation seminars:: Seminar on graduation requirements is to be organized to sensitize the graduating entrepreneurs.

•  Investment Toward Relocation: Each entrepreneur to save 5-15% of net profit for the development of relocation site.( modalities to be worked out between the Centre Manger, The entrepreneur and the Bank.

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