Supporting Venture Center
Venture Center is a not-for-profit entity dedicated to promoting technology entrepreneurs and startups.
The Venture Center accepts donations from well wishers, ensures its proper utilization and reports to its donors regularly on how the funds were deployed.
Click on image for list
Why should you support Venture Center?
Venture Center is registered u/s 12A of the Income Tax Act, 1961, and with the Director of Income Tax (Exemptions) u/s 80G. The donors to Venture Center enjoy Section 80-G benefits.
Venture Center has been accredited by Credibility Alliance (CA) under Desirable Norms the highest level of accreditation offered by CA. This accreditation provides an independent, respected and credible recognition of the high standards of accountability, transparency and governance followed by Venture Center. The accreditation positions Venture Center as the only technology business incubator in India with CA accreditation.
Detailed information on Venture Center including disclosures to meet credibility and accountability norms are available here
|You can also support Venture Center via CSR projects. Venture Center is eligible for funding under Section 13, Schedule VII of Companies Act, 2013. For more information, click here|
Venture Center evaluates donations/grants proposals and accepts or declines donations/grants as per the following policy approved by the Board. See link
How to donate?
Visit the Venture Center at NCL Innovation Park, Dr Homi Bhabha Road (Pashan), Pune (Directions
) to donate in person ,OR
Write out a cheque in the name of "Entrepreneurship Development Center". (Kindly note spelling!)
Currently, we are accepting donations under the following heads:
- Corpus funds (principal is invested; only income used)
|Venture Center Library (Link) Corpus
||Income from the corpus is used towards strengthening the collection, creating new sections/collections, running events and day-to-day operation of the Venture Center Library. The Library aims to inspire, inform and prepare young and budding inventors and entrepreneurs.|
|"Exciting Science"/ Science Outreach Activities (Link) Corpus ||Income from the corpus is used towards operating a vibrant science popularization program aimed at children (typically, 12-15 year olds). This program has significant impact in the Pune region in the last few years.|
|NCL Technology and Entrepreneurship Club (Link) Corpus||Income from the corpus is used towards funding activities of a student-led club focused on technology and entrepreneurship of a group of students from NCL (and IISER).|
|Awards & recognitions ||Income from this corpus shall be directed towards providing awards and recognitions to individuals and small businesses for technology, intellectual property and entrepreneurship. The initial focus shall be Pune and institutions around Pune.|
|The MLM and Social Entrepreneurship Fund||Income from the corpus is used towards building and strengthening a program at Venture Center aimed at supporting technologies/ innovations/ enterprises aiming to deliver significant social impact. MLM (coined by Dr RA Mashelkar) stands for More from Less for More highlighting the need for technologies that deliver more value from less resources for more people.|
|Venture Center "unrestricted" Corpus||Income from this corpus shall be directed towards purposes decided by the Board of Venture Center as per the emerging needs from time to time.|
- Expense funds (donated funds are directed to expenses)
|"Exciting Science"/ Science Outreach Activities (Link) Expense Fund
||This fund shall be used towards operating a vibrant science popularization program aimed at children (typically, 12-15 year olds). This program has significant impact in the Pune region in the last few years.|
|Unrestricted use by Venture Center||This fund shall be directed towards purposes decided by the Board of Venture Center as per the emerging needs from time to time.|
Write a letter indicating purpose of donation. Sample format provided here
Post the letter and cheque to:
100, NCL Innovation Park
Dr. Homi Bhabha Road
Pune - 411008 India
In case you prefer online bank/ fund transfers OR if you wish to discuss and learn more about donating to Venture Center (including how you wish to attribute your donation and other special requests), please ask for the General Manager (Email: email@example.com; Call: +91-20-2586 5877)
What should you expect after you post your donation?
- Venture Center typically posts the donation receipt along with documents supporting tax deductions (ex: Section 80G) within 2 days of receiving the cheque.
- The Venture Center maintains mailing lists of donors through which it communicates new developments, success stories and milestones periodically with its donors.
Affiliations, registrations and recognitions
- Venture Center is a technology business incubator approved by the Department of Science and Technology, Government of India.
- Venture Center is recognized as a Scientific and Industrial Research Organization by the Department of Scientific and Industrial research, Government of India.
|Income tax benefits|
- Venture Center is registered u/s 12A of the Income Tax Act, 1961, and with the Director of Income Tax (Exemptions) u/s 80G. The donors to Venture Center enjoy Section 80-G benefits (allows the donor to deduct 50% of the donated amount from his taxable income)
|Accepting foreign currency donations|
- Venture Center is registered under section 6 (1) (a) of the Foreign Contribution (Regulation) Act, 1976 (FCRA Reg. No. 083930543). The Bank account under which FC funds are received is with Axis Bank, Baner, Sapphire Chambers, Ground Floor, S.NO:2/3/1, Baner, Pune 411045, Maharashtra, INDIA.