Structure of the SSBC
- Category: about ssbc
- Published: Tuesday, 24 January 2017 06:01
- Written by Administrator
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There will be a Director, Staff to the Director, Management Committee, and the Board of Trustees. See the below organogram of the SSBC.
1. The Executive Director
The University will appoint one person as the Director of SSBC. The Executive Director shall:
a) Operate from Vice Chancellor’s office.
b) Manage every aspect of the SSBC, including planning, organizing and managing the student start‐up competitions, and fund raising programs.
c) Look after operations of the portfolio businesses by acting as general partner of the UST Venture Fund.
d) Shall put every effort to ensure growth and stability of the investee firm through his/her advice to its management.
e) Formally sign contract with the investee firms after the management committee selects the firm for investment.
f) Make sure to fulfill all formalities in the funding processes as well as post-investment activities.
g) To participate in the decisions of the port-folio business if he/she deems that its management lacks ability and that such participation is not in contradiction to the contract with the respective investee firm.
h) Make sure that contracts signed with investee firms are enforced and to report instances of non-compliance to the Vice Chancellor/Management Committee.
i) Make sure to report to the Vice Chancellor any adverse selection, moral hazard or any other opportunistic behavior on the part of the management of the investee firm, and
j) To serve as chairman of the Management Committee and the non-voting secretary of the Board of Trustees.
2. Management Committee
The Committee will be comprised of at least five persons, one of them, the Chairperson, will be the Vice Chancellor.
a) It will be responsible for overseeing all aspects of managing and operating the Center.
b) Review application forms and select the best proposals for investment.
c) Advise the Director, where needed to apply for grants to different donor organizations and businesses to secure donations and investments, seek pro‐bono services for legal counsel to students, and other services as necessary.
d) It will make strategic plan to promote and expand the UVF that will include the fundraising tools.
e) Make sure that UVF is a sustainable fund that will make investments in students led start-ups.
f) Make sure that any “adverse selection” is avoided in the selection process of the investee firms for investment.
g) Make sure that opportunistic behavior is restrained through efficient contracts with the investee firms by the Director.
h) Make sure that detailed SOPs for evaluation and selection of proposals, reporting, monitoring and other systems are in place.
i) Make sure that such clauses are included in the contracts that eliminate any conflicts of interests and agency problems.
3. Board of Trustees
The Board of Trustees shall:
a) Meet annually for its Annual General Meeting of the SSBC.
b) Approve the budget of the SSBC and discuss the annual audited report in its annual general meeting.
c) Approve or suggest amendments in the strategic plan of the SSBC.
d) Make or amend rules and regulations of the SSBC under the framework provided by the Memorandum of the SSBC.
e) Recommend changes in the Memorandum of the SSBC to the University Syndicate.
f) Make sure that the actions of the management committee and the Director are according the memorandum, rules, and regulations of the SSBC.
g) Suggest to the director and the management committee to take steps the Board deems are beneficial to the growth and sustainability of the SSBC.
h) Order special audit of the expenditures incurred or inspection of the investments made.