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Frequently Asked Questions

What is HTIC MedTech Incubator(MTI)?

HTIC MedTech Incubator (MTI) is a facility provided to start-up companies in the Medical Technology sector to enable them to grow and enter the market.

Where is this located?

This facility is located at Phase II of IITM Research Park, Taramani.

What advantages do I get in HTIC – MTI?

Facilities include:

  • Office space for 18-36 months
  • Access to our industry network and partners to enter the market.
  • A well-equipped research lab attached providing access to the equipments and our researchers
  • Opportunity to interact with IITM faculty and students
  • Other support services viz. accounting, legal, company secretarial, IP intellectual property and mentorship
Who should apply?

Apply, if you one of the following:

  • If you have an Innovative idea
  • If you want to take new Product to the market
  • If you want to test a new Process for existing Process
  • If you are a MedTech start-up registered in India
Can I apply if I am the only founder of the start-up?

Yes, you may apply as a sole founder. However as you grow, you can begin to look for complementary team members.

Is any particular qualification required for applying?

Anyone with a basic background/understanding in Medtech can apply.

Should I already have obtained funding before applying to HTIC – MTI?

Not necessarily, but there should be some source of funding before you can start incubating.

Is this open only to IITM students or alumni?

No. Anyone with an idea in MedTech sector can apply.

What is the process for application to HTIC-MTI?

Once the online form is filled and submitted by the applicant, it will reach the HTIC-MTI secreteriat, who will ensure the form is complete and is in order. It will then be forwarded for initial screening and called to present. The applicant will present to the HTIC-MTI Screening Committee, based on their recommendations the team will be selected. The selected applicants will then execute the paper work and get incubated with HTIC-MTI.

What will my application be assessed on?

Applications are assessed on their technical merit, potential usage and economic viability.

Can I re-apply if not selected?

Yes you can re-apply as a fresh applicant considering the feedback provided by the screening committee.

How much space will I get if I incubate?

Office cubicles will be allocated to each incubatee depending on the availability and requirements

How will my progress be tracked? Who will monitor me?

HTIC – MTI will conduct review meetings every month. You need to submit monthly progress reports, quarterly cash flow and P&L summary and yearly audited accounts to HTIC – MTI.

What do I need to give HTIC – MTI in return for being incubated?

Selected as an incubatee, you will need to sign a contract and transfer some equity shares.

Does HTIC – MTI require any authorship for patent or publication from my work?

No, unless it is developed with our research lab then an aggreement will have to be made.

Can I get any seed funding through HTIC – MTI?

No, but you may be able to apply for some funding through IITM-IC once you are an incubatee.

How long can I incubate?

The minimum period for incubation is 3 years, depending on the growth and performance of the incubatee company. A contract may be terminated before the end of 3 years also if the incubatee company performs very poorly or is ready to go into the market (graduation).

If I want to move out of HTIC – MTI, what should I do?

You should apply in writing with due notice.

If I have not generated money or profit, can I continue in HTIC – MTI?

The Committee will decide whether and when to terminate any incubatee with due notice. Support will be continued as long as the Committee finds promise in the idea and the company.

Does HTIC – MTI have a technical team to support me?

Yes. HTIC – MTI has a research lab attached to it. You can get access to the researchers based on your research or project. However the project scope and agreement will be defined.

I have an established Medtech company? Can I work with HTIC – MTI to do my in-house R&D?

Yes. Depending on the project you can work with the in-house R&D team at the HTIC lab.

Can I use HTIC – MTI address to register my company?

You cannot use the HTIC – MTI address for registration of your company.

Can I bring my own equipment and use in HTIC – MTI?

Yes, but with prior discussion and approval from HTIC – MTI and used under your own control and supervision. HTIC – MTI will not be responsible for the safety, usage and maintenance of incubatee’s equipment.

Can I use HTIC – MTI facilities if I am not an incubatee?

No. You have to be incubated in order to utilize the services.