CSR FOR INCUBATORS

Corporate social responsibility (CSR) refers to the way that businesses are managed to bring about an overall positive impact on the communities, cultures, societies and environments in which they operate. The fundamentals of CSR rest on the fact that not only public policy but even corporates should be responsible enough to address social issues. Thus companies should deal with the challenges and issues looked after to a certain extent by the states.

The section 135 of the companies act defines the type of companies which will be covered by this notification:-

CSR provisions are applicable to a company having:-

a) Net worth of Rs 500 crore or more
b) Turnover of Rs 1000 crore or more
c) A net profilt of Rs 5 crore or more during any financial year

According to the companies act, any company with the above mentioned turnover or profit will have to spend 2% of their profit on CSR activities. The government has also included INCUBATORS (approved by the government) as an approved recipient of the CSR funds under this scheme.

The incubator will take the funding from a company against some startup business plans approved by the incubator and for the startups which have been incubated. It will monitor these businesses very closely. The company will be given complete visibility regarding the progress of the startup. It can even mentor the startup on a regular basis thereby playing a much larger role in the growth and development of the startup.

For any queries regarding CSR/ funding to the startup, please contact info@aii.amity.edu
The relevant notification issued by the ministry of corporate affairs is as below:-

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 27th February, 2014
G.S.R, 130(E).-In exercise of the powers conferred by sub-section (l) of section 467 of the Companies
Act, 20l3 (18 of 2013), the Central government hereby makes the following amendments to Schedule Vll of the said act, namely:-
(ix) contributions or funds provided to technology incubators located within academic institutions
which are approved by the Central government.

EVENTS & UPDATES
Workshop on Data Science
17/08/2017
Amity Innovation Incubator, E-III, First Floor, Amity Noida Campus
Amity Innovation Incubator invites you to Applab CodeCamps from 26th March 2018 - 26th April 2018
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Amity Innovation Incubator, E-III, First Floor, Amity Noida Campus
First Applab Meetup
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Amity Innovation Incubator, E-III, First Floor, Amity Noida Campus
A session on GROWTH HACKING and Learnings from an Investor turned Entrepreneur
06/02/2018
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Session of Workshop – Startup Guru
19/01/2018
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iPitch-Delhi
18/01/2018
F1, Seminar Hall, Amity University Campus, Sector 125, Noida
Session on Agreement & Contract Drafting for Startups
24/01/2018
F3 MDP HALL, Amity University Campus, Noida
New Business Dynamics (Structural & Legal Compliances)
04/07/2014
Amity Innovation Incubator, Noida Campus
The Big Pitch
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