CSR Partnership with KIIT-TBI

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KIIT-TBI and CSR activities

As per Section 135 of the Companies Act 2013, large companies are expected to spend 2% of the average net profits towards Corporate Social Responsibility (CSR) Projects. KIIT-TBI is a not-for-profit technology business incubator hosted at Kalinga Institute of Industrial Technology (KIIT), and hence is eligible under Section 135, Schedule 7 of the Companies Act 2013.
(Please visit the link see item (ix) under Schedule VII)
CSR funding
KIIT-TBI can accept CSR contributions from corporate for the sole purpose of CSR activities only
The corporate can support the following activities under their CSR initiative.
01.
Nurturing Women entrepreneurs/SHGs at Rural sector
> Rs. 50 lakh
This fund will be used for Capacity building, operational expenses, and market linkage for establishing Women Technology Park.
02.
Innovation and Seed fund
> Rs. 30 lakh
Seed support for incubatee to help with their initial operational expenses and funding for social start ups – products / services having social impact
03.
Infrastructure fund
> Rs. 50 lakh
Fund for supporting creation of additional space, shared facilities, equipment, components and raw materials.
04.
Capacity building and resource center
> Rs. 10 lakh
For supporting market research, proof of concept, product development, cost for IP protection cost of experts, mentors, consultants etc.
05.
Fellowships/ internships fund
> Rs. 10 lakh
Supporting interns, Entrepreneur in residence (EIR), Innovation fellowship and grand challenge program.
06.
Implementation of public welfare program in the operational area of Corporate
As per the actual project cost
Funds will be used to implement various public welfare program such as access to education, health care, skill development, women entrepreneurship, access to safe drinking water, energy etc.

Benefit for CSR contributors

KIIT-TBI shall mention the CSR contributors on its website including naming rights will be provided.
CSR Reporting
KIIT-TBI will provide periodic reports on the following aspects to help the corporate meet its annual reporting requirements under CSR rules.
  • Activities undertaken
  • Utilization of funds / financial report against planned budget
  • Impact of activities undertaken