New Generation Innovation Network (NGIN)

1. Start-ups will be reimbursed a fixed amount for the seats occupied by them at co-working spaces/ incubators/ accelerators listed by the SPC. The benefits at the co-working spaces can be availed maximum for a period of two years per startup, at incubators can be availed maximum for a period of 1 year per startup and at accelerators will be for a period of 3 months per startup. 2. The startup will be reimbursed 50% per seat cost offered by the co-working spaces listed by the SPC or a maximum benefit of INR 3000 per seat and can claim this benefit for a maximum cap of 8 seats only. 3. The startup will be reimbursed 50% per seat cost offered by the incubators listed by the SPC or a maximum benefit of INR 5000 per seat and can claim this benefit for a maximum cap of 8 seats only. 4. The startup will be reimbursed 50% per seat cost offered by accelerators listed by the SPC or a maximum benefit of INR 6000 per seat and can claim this benefit for a maximum cap of 8 seats only. 5. The reimbursement in this scheme can be claimed on any of the plans offered by the coworking spaces/ incubators/ accelerators listed by the SPC. 6. A total of 100 seats in co-working, 50 seats each in incubator and accelerator will be subsidized under this scheme each year. 3.7. For certain deserving startups determined through the internal guidelines of the SPC, the SPC may choose to reimburse up to 100% of the amount paid to co-working/incubator/accelerator by the startups. 3.8. Under no circumstance shall the benefits under this scheme be considered an entitlement. The SPC shall reserve the sole right to accept or reject applications.