This program aims to encourage and support FMs of BU to engage in entrepreneurial activities, establish startups, and promote innovation and commercialization of their research. The Entrepreneurial Faculty at BU, for the purpose of this program, is defined as:

• Founding member of a start-up
• Member of the governing board of start-up
• Holding equity in a startup

a. Scope

The program covers the grant of permission to full-time BU Faculty Members/Research Track Faculty (RTF) Members to participate as “Entrepreneurial Faculty,” defined above with an aim to encourage FMs for initiating/actively participating in setting up startups.

b. Objectives

• To encourage FMs to commercialize their research.
• To encourage involvement of FMs in industrial collaborative activities to better incorporate the state of art in their university courses.
• To support BU in meeting commercialization requirements set by HEC.
• To attract and retain high-quality FMs by providing an opportunity for commercialization of their research.

c. Eligibility Criteria for a Start-Up

• Faculty Member must be a “Full-Time FM” at any of the campuses of BU with more than 1 year of experience at BU OR Research Track Faculty (RTF) hired by BU without any minimum experience.
• The start-up must be based on some research work as part of an internal or externally funded project, student final year project, or student research thesis, or any other research/innovation work carried out at BU.

d. Application Procedure

• Application shall be submitted on the prescribed application form with all the required information.
• Applications may be submitted at any time.
• A brief business plan along with the following information shall be provided using the provided form:
  • Domain of the start-up
  • Research outputs/technologies/products that the start-up aims to commercialize.
  • List of BUFMs and staff involved in the start-up.
• Applications must be submitted through the respective Manager BICs.

e. Procedure for Evaluating the Application

• Manager BIC(s) in close coordination with Director ORIC will arrange a pitching session to ascertain the potential for commercialization of the conceived business idea.
• The pitching session will be attended by Incubate Selection Committee.
• Upon the recommendation by the committee, the application of establishment of faculty startup/spinoff will be processed by Manager BIC of respective campus to Director ORIC at BUHO for getting the approval of Pro-Rector RIC.

f. Financial Distribution Model

• BU asserts legal and beneficial ownership rights over all Intellectual Property developed because of support either directly from or channelled through BU. In such case(s), the faculty-led startup will enter into a legal agreement with Bahria Science and Technology Solutions (BSTS) Pvt. Ltd.
• After deducting any cost incurred, the Faculty Led Startup shall distribute all commercial benefits as follows:
  • BU’s Share via BSTS: 20%
  • Startup/Research Spinoff Share: 80%
• IPRs generated by the startups will have distribution of ownership share as mentioned above.

g. Mandatory Yearly Assessment of Faculty Start-Up

• Approximate business/funds being generated by the start-up.
• Number of employments created by the start-up.
• Summary of industry partnerships generated by the start-up.
• Patents held by BU are being commercialized by the start-up.
• Any new patents registered by the start-up.
• Marketing material/evidence of commercialization activities by the start-up.

h. Other Terms and Conditions

• The faculty members during their incubation period shall comply with all the Policies/Rules/Regulations of BIC along with other instructions communicated from time to time by the BIC management.
• The approval for a start-up does not imply any kind of financial or legal liability of BU.
• The applicant shall be responsible for ensuring that the start-up does not engage in any activity that may bring disrepute to BU.
• BU will not provide any financial support for the established start-up as part of this approval.
• The start-up must notify the respective Manager BIC and ORIC-BUHO in case it employs (or in any form provides honorarium/ stipend/ or pays compensation to) any BU staff or FMs.
• No workload exemption shall be provided to the applicant for creating/managing the start-up.
• BUFMs/RTFs are expected to complete all their academic/administrative obligations and responsibilities assigned to them by BU.
• The start-up may not engage BU students in a manner that creates conflict of interest (for example, by utilizing work completed by students as part of their courses).
• BU has the right to advertise the start-up and its product descriptions and marketing materials, and other disclosed information (such as the number of jobs created) for promotional activities, and for meeting documenting requirements of HEC, ranking/accreditation bodies, etc.