Committees and their functions

Committee Members            Tasks and Responsibilities
FUBIC Committee
  • President FUBIC, nominated by Rector FUI
  • Director, ORIC
  • In charge, QEC
  • FUBIC Members, nominated by various Academic Heads and selected by Director ORIC and President FUBIC
  • Complete operationalization of FUBIC.
  • Overall management of FUBIC including leading, planning, monitoring and controlling all activities.
  • Supporting the needs of ORIC.
  • Escalation of bottlenecks to next reporting authority.
 
Incubatee Selection Committee
  • FUBIC Committee Members
  • One Financial Expert to be nominated by President FUBIC
  • One Legal Expert to be nominated by Director ORIC
  • Two Subject Area Specialist / Experts to be nominated by Director ORIC, in consultation with President FUBIC
  • Business proposal evaluation (mainly focusing on financial and operational viability) of potential incubatees.
  • Selection of incubatees would base on the following 3 main criteria:
  1. Business viability to be measured/evaluated on basis of:
    1. Financial viability,
    2. Product/service viability,
    3. Organizational viability,
    4. Marketing tactics and potential market,
    5. Opportunity
  2. Socioeconomic contribution of potential business
  3. Contribution of potential business to FUI in terms of
    1. Involvement of faculty and students in business venture,
    2. Level of research promoted within the university,
    3. Commercialization benefit to university,
      1. Patents benefit to FUI, etc.
(but not limited to)
  • The committee is responsible for standardization of documents that are used for selection of potential incubatees.
  • The committee is also responsible for contracting between FUI and selected incubatee.
Business Evaluation/Monitoring Committee
  • FUBIC Committee Members
  • One Financial Expert to be nominated by President FUBIC
  • Two Subject Area Specialist / Experts to be nominated by Director ORIC, in consultation with President FUBIC
  • The committee is responsible for evaluation and monitoring performance of incubatees, including (but not limited to) evaluation and monitoring of:
  1. Financial performance of incubatees,
  2. Organizational performance of incubatees,
  3. Socioeconomic contribution of incubatees,
  4. Contribution of incubatees to FUI in terms of:
  • Involvement of faculty and students in business venture,
  • Level of research promoted within the university,
  • Commercialization benefit to university,
  • Patents benefit to FUI, etc.
(but not limited to)
  • Reporting all evaluation and monitoring results to next reporting authority.
Business Graduation Committee
  • FUBIC Committee Members
  • One Financial Expert to be nominated by President FUBIC
  • One Legal Expert to be nominated by Director ORIC

  • The committee is responsible for normal and abnormal graduation of incubatees.
  • A normal graduation means end of contract terms between FUI and incubatee. A normal graduation also means early achievements of the set goals / objectives / plans etc. identified in the initial contract between FUI and incubatees. In case of normal graduation, committee would provide recommendations (examples are award of certificates, contract closure etc.) for graduation to Director ORIC.
  • An abnormal graduation means early termination of contract due to breach of contract by the incubatee and/or nonperformance of incubatees. In case of abnormal graduation, the committee would recommend penalties for incubatees to Director ORIC for further necessary action.