• Payment policy for IE projects

    Each project has a pre-decided and fixed amount of money we sponsor or pay after the successful completion of the project. The term "successful completion" generally refers to "achieving the objective or results that were stated and decided during the project acceptance stage a.k.a the first stage of the project". But we always reserve the right to pay and/or complete and/or close the project at any stage. We also have the right to change the objective and/or expected results from the project; in such cases we will either pay more and/or increase the number of students working on the project and/or take other necessary measure to meet our revised objective - all this would be done without affecting the original terms accepted upon during the first stage of the project.

    If multiple students from the same campus work on the project then they have to nominate one person as their team lead. If multiple students or teams are working from different campus then each students from each campus should nominate one lead. We pay the money to the lead(s) and he/she/they are responsible to distribute the money among their team members. We are not responsible for any disputes arising among the team members or among the teams in regards to distribution or sharing of money.

    The payment would be done to the student or the nominated lead as the case may be through the following means:

    • Online bank transfer.
    • Cheque.
    • DD.


    Reimbursement policy for IE projects

    We expect the students to have basic infrastructure (like computers, internet, mobile, software/hardware development kits, etc.) in the campus where they are studying or at their home. For any other project specific item that is to be purchased from the market we reimburse the expenses incurred upon submission of the bills. The original bill must be sent to us through post or courier. You must contact us prior to making the expense so that we decide the vendors from whom you can purchase, the maximum spending limit for the items, the postal address to send the bills, etc.

    We want to encourage the students to innovate and actively participate in the project so we do not reimburse the entire amount immediately. We do it in two phases.

    • During the project phase: We will only reimburse 50% to 100% of the expenses incurred before completion of the project so that students develop a sense of responsibility and prudence. We use our discretion in deciding the amount based on many factors like the necessity and scarcity of the purchased items, economic status of the students and/or college, etc. So some students may get entire amount reimbursed immediately but some may get partially reimbursed.
    • After successful completion of project: If the project is successfully completed then we reimburse the entire expenses i.e., you get 100% of expenses if you successfully complete the project otherwise you will not get anything more (than what was paid earlier which would be between 50% and 100% on a case by case basis).

    Any violation of the above mentioned procedure/policy would lead to cancellation of the reimbursement. We do not tolerate any malpractice or fraudulent practice related to the purchase and/or expenses; such behaviour would be punishable under law.

    You can contact us if there are any questions or doubts about these policies.