The following criteria will be taken into consideration for selecting incubating companies:
General Qualification Criteria for selection of Business Incubatees

• The proposed investment would fall in BIC’s identified inventions/products
• The candidate has good repute and reasonable experience in the relevant sector.
• The candidate is not defaulter of any financial institution or any government duties or taxes.
• The candidate has not been convicted in any civil or criminal case.

The business:

• Good understanding of the market and competition.
• Pre-feasibility
• Strong growth potential
• Demonstrate scalable business potential
• Financial condition
• Industry growth rate
• Significant growth rate
• Significant market size
• Identification of marketing, financial or management deficiencies.

The Technology:

• An innovative concept
• Potential for IPR
• Technical expertise and edge. 

General

• At least one full-time person committed to company
• Relevant professional experience and education

Keeping the Incubatee Focused
A business like discipline, team work effort and attention to details of every aspect of the project is necessary for the success. This demands developing and managing project milestones such as product concept refinement, product design, prototype development, product testing in the laboratory and actual service conditions. Incubatee must prepare and present for review a project plan describing each milestone and corresponding activities along with resources needed for each milestone. The project plan must be adhered to strictly and corrective actions carefully designed and implemented to correct any deviation. Incubator management will ensure that the plan is followed properly.

Incubatees Selection process

Facilitating services to be provided by the BIC, UAF

• BIC will provide entrepreneurs with well equipped laboratories, extensive libraries, powerful computer systems, technology expertise and subject-matter experts from the faculty.
• Assist in preparation of feasibilities of projects.
• Participate in securing financing for the projects.
• Ensure commercial and economic viability of coordinated projects.
• Assist in formulation of business and market plans.
• Participate in finding suitable markets for the products of the project.
• Facilitate in the removal of legal and or administrative hurdles in the implementation of coordinated project.
• Facilitate in getting patent for the product and intellectual property right to the scientist/inventor of the product.     

Graduation or Exit Policy.

            The incubatee company will be graduated out of the incubator once it meets the following criteria:

• Incubatee might have spent about 18 months at the incubator. If the project has not completed yet, an additional 2-6 months could be given.
• Incubatee has achieved milestones agreed in the business plan. Specifically, the company has transferred technology to another party or has a solid plan that will allow it to operate successfully outside the incubator.
• Space requirement of the incubatee company exceeds incubator capacity.
• If incubatee fails to meet the quarterly targets twice in a calendar year.
• If the review committee decides that the project is no longer viable.
• If incubatee violates the tenancy agreement.

Follow up programme

The Business Incubator will make arrangements to facilitate the graduating incubatee after he exits by creating linkage with the cientists/researchers of the UAF to further improve the technology/product.
Revenue Generation for the Incubator

• Incubator may charge each incubatee a reasonable residency fee to cover utility, internet, telephone, building rent, stationary and building maintenance costs.
• Where university funds/customized services are utilized for product development and or commercialization, the incubator may acquire equity share in the company.
• Incubator management will ask the treasurer UAF to keep recurring budget for the on-going quarter in its current account and the rest of the money may be deposited in a savings account. Interest accumulated from the savings account will be considered as revenue generated for incubator. 

Incubatee Application Form

I the undersigned, duly understand, affirm and certify that:

• I am fully authorized to represent my business and/or business associates on its/their behalf.
• I am completely aware of the applicable terms and conditions in applying to BIC
• I will pay the charges agreed upon for
• I have submitted the business plan with the application for utilization of the services of BIC
• I shall submit all required documents and cooperate with BIC in every respect.
• BIC reserves the right to accept or reject any application, at any stage. BICs decision to my/our application will be final and incontestable and applicant will not appeal against the decision.
• The information provided in this application is correct to the best of my knowledge & belief.

BIC Tenant’s selection criteria

• Entrepreneurs having a well developed business plan and pre-feasibility will be preferred in the selection process
• Preference will be given to entrepreneurs having a Bank Account and an NTN
• Current status of the business to assess the need for services of BIC and their sustainability for future business success or growth. Applicants business scope, function and activities falling within preview of BIC.
• Applicant has secure sources of funding for running the business.
• The line of business falls within the specific products of BIC
• Applicant demonstrates scalable business potential and enjoys significant market size.
• Applicant presents strong growth potential and is well versed with marketing, financial or management deficiencies.
• Applicant has relevant professional experience and education, can demonstrate technical expertise and has potential for IPR.
• Applicant is committed not to misuse the BIC office facility for retail/wholesale outlet.

Selection committee

1. Vice Chancellor, UAF                                                Chairman
2. Director Business Incubation Center, UAF                Member
3. Relevant faculty member                                            Member
4. Rep. of CSF                                                                Member
5. Rep. of HEC                                                               Member
6. Rep. of Industry nominated                                       Member

                        The selection committee may conduct face to face interview of the applicant to evaluate entrepreneurs’ business prospects, strengths, potentials to manage his business and appropriateness to use BIC.
Services Offered at BIC, UAF
Physical infrastructure
Incubatees will be provided office space including reception services, shared meeting room, internet access, product display, exhibition hall and secure environment.
Technical & Managerial Assistance
This service will allow incubatees to access university faculty resources and gear-up their engineering and managerial capability. A total of 40 hours per month of consultancy may be provided by the incubator against which the incubator will pay Rs.800 per hour to Lecturer/Assistant Prof., Rs.1000 per hour to Associate Prof. Rs.1200 per hour to Professor. Any additional consultancy required by the incubatee will be charged.
Access to Labs
Incubatees will also have access to labs of the university. A nominal fee can be charged for that service by the university.
Access to funding sources
Selected incubating company may apply and get money for developing prototype and commercialization of their respective product, in order to get them ready for venture capital funding. The disbursement of this fund to the incubating company will be at the discretion and evaluation of the Supervisory Committee. The cap for this for each incubating company is PKR 0.5 million with flexibility of increasing this limit after requisite evaluation of the project by the Supervisory Committee, the structure of which is as under:-

1. Vice Chancellor, UAF – Head of the Committee
2. Director Incubation Center, UAF
3. Rep. of Industry.
4. Rep. of HEC
5. Rep. of CSF

                        Vice Chancellor will assume overall responsibility of incubator and will act its Chairman. Incubator Management will also help the incubatee in locating the right financial sources.
BIC;  Space Allocation by functions

• Reception Area
• Kitchen
• Exhibition Hall
• Meeting Room
• BIC Management Room (3 offices)
• Incubatee Room (8-offices)
• Washroom (2)
• Any damage or breakage caused by a tenant will be charged to the tenant causing it.
• Following activities/practices will be strictly prohibited

• Illegal and immoral activities
• Formation of any association/union within the premises of the center
• Unnecessary noise or disturbance causing problems for other tenants or spoiling the general environment of the center.
• Any other activity which could spoil the environment of the center or bring a bad name to it or is not permissible according to general social norms.

Fee for services offered at BIC
-  Photocopy                Rs.1/ per page
- Fax (nationwide)      Rs.5/ per page
- WWD/NWD call      as per actual

Business Development Plan.

Status of Activities

The activities of the Business Incubation Center has been started with the invitation of briefs of innovations from the scientists/researchers of the UAF. These briefs then were sent to M/s Development Pool, a consulting firm based at Lahore for evaluation. The list of evaluated and approved to become successful ventures is given below.

Products Ready for Commercialization

1.  Hydro Vaccine
Hydro is very common disease in poultry industry of Pakistan which yields heavy losses to the farmers each year. UAF came up with state of the art new vaccine which has effectiveness as good as imported vaccines but has price far lower than imported products.

2.  Texturized Vegetable Protein
In Pakistan there are more than 3 million people facing protein deficiency and 22 million school going children, 0.2 million troops, and about 1 million heart patients severely need solid protein diet. This unique product has meat like texture and is made to serve these people.

3.  Aquatic Fish Feed
The fish farmers are faced with the ever existing problem of low FCR (Feed Conversion Ratio) and increased pollution of water. This environment friendly floating fish feed resolves both issues efficiently and provides better solution to the farmers.

4.  Intermittent Poultry Feeding System
To provide poultry farmers a reliable automatic feeding system, scientists from UAF has developed an electro-mechanic feeding system which relieves the farmers from the hassle and threat of over/under feeding.

5.  Zone Disk Tiller Drill
Zone Disk Tiller Drill (ZDTD) has been designed to cater the planting needs of wheat, barley and chickpea growers. This machine carries a special feature of sowing without removing the residuals of previous crop thus providing much savings to the farmers in terms of labor time and energy.

6.  University Boom Sprayer
Research shows that traditional sprayers are inefficient and cause heavy chemical and time losses to the farmers resulting high cost of production. The University Boom Sprayer has the abilities to spray under the leaves thus throwing chemical direct on the culprit. This direct approach saves lot of time, hassle and money of the farmer.

7.  Isolation & Purification of Enzyme for production of Diagnostic Kits
The enzyme peroxidase , mostly used in diagnostic kits as chromogenic and terminating agent, has been purified in the department of Chemistry & Biochemistry. The conditions for the preparation of glucose diagnosis using indigenously produced enzyme (POD) have been optimized.

8.  A Process for the Production of Zinc Sulphate
Through this process, more than 90% yields of zinc sulphate can be achieved compared with any other industrial production process of zinc sulphate. Normally it is seen that the industrial production processes yields are below 70%.

9.  Rose Perfume
Rose perfume is very unique innovation from UAF which caters the market of perfume in the country. There is no competitive product available at the moment in the market. This alcohol free product has perfect match with our religious society. The product is prepared with highest possible purity standards.

10. Vaccine for Mastitis Control in Cows and Buffaloes
Mastitis Vaccine is very useful innovation from UAf which is designed to overcome mastitis disease within the mammary gland of the udder in cattle and buffaloes.

11. Citrus Bud-wood Certification and Propagation Program
In our country the current plantation methods of citrus fruit are primitive and less efficient. UAF has started a certification program to develop modern and scientific nurseries in the country which will help investors to establish UAF certified nurseries.

Many other innovations are at final stage or are in the pipeline which will be collected by the BIC and will be evaluated and approved for incubation in BIC. These products then will be offered for commercialization in due course of time.
Alongwith creating linkages between academia/R&D institutions and private sector, aiming at creating knowledge based enterprises the BIC will also promote economic sectors through pilot project activities. The BIC will also assist UAF in landing UAF based companies and commercialize processes to generate income. Efforts will be made to arrange technology fairs to create awareness and strengthen academia-industry linkage.
The university (UAF) has registered its own company for transferring technologies of the university and may sell the products produced by the scientists of the university. This company will be incubated by the Business Incubation Center of the University of Agriculture, Faisalabad.

Operational Plan for Incubating the Business in BIC
Each registered incubattee will be provided with space in the BIC alongwith other facilities i.e. access to the technical expert, laboratories, library, internet facility and utilities. The incubatees may have to pay for some of the services utilized.
The management staff of the BIC will provide services selected to reducing the management risk of the investor. The use of economic principles and management tools like business plan, business cycle and marketing plan of the product, will be prepared for the benefit of each incubattee. The incubattees will also be assisted by arranging their contacts with financial institutions for providing them loans at reasonable rates and comfortable terms. Arrangements will be made to continue the contacts of the incubatee after exit, with the technical expert as well as the staff of the BIC. This will enable the firm to sustain and solve its problems being faced afterwards, as well.