Bank Account of the SSBC

The University will set up a separate bank account for the StartUp Business Center (SSBC). All donations and funds for the purposes of SSBC will be deposited in this account. The funds will be used only for the purposes of awarding financial aid in the form of seed money for deserving student startup businesses. An annual audit report will be produced every financial year and made available to the public at the University website to ensure transparency and accountability of managing SSBC. The report will include the date, source and amount of donation and the date, the name, and degree of each recipient student, as well as updated details on the status of SSBC account. These steps will reassure and encourage past donors as well as new donors that SSBC account is managed efficiently and all the distributable part of the funds go towards the programs as required by the mission and donor restrictions.