Electropreneur Park Invites Startups For Proposal Submission

Q) What are the processes of selection and the criteria set for selecting the proposals?
Each proposal selection is a two-stage process. The process of screening and the final evaluation is done by a team of industry experts and investors based on one-on-one interaction with the shortlisted applicants.

The most important criteria for selection of the proposal is that both the applicant and the idea should have the potential to create a viable commercial venture within the period of incubation.

Q) Tell us about the pre-incubation and the virtual acceleration steps – how are they different from normal incubation? Based on what factors are startups categorized in these steps?
Under our incubation program, we provide free office space and complete ecosystem including state-of-art laboratory, mentorship, marketing support, investors and industry connect for a period of 12 to 18 months. This offer is now complemented with the pre-incubation program of three months for startups at only idea stage without a validated proof of concept.

Such individual teams or startups get the opportunity to use our lab facility, technical and business mentorship to validate the proof of concept and become eligible to apply for incubation program.

Virtual acceleration program caters to startups remotely placed or already availing free working space in any other center. These startups are provided all the required support, except office space, to accelerate the commercialization of product within a fixed period of 12 months.

Q) Should applications for these three categories be separate or will a single application work?
Single application in our standard template may be submitted to us with heading of the program applied.

Q) Any cost involved with the application process?
No hidden cost is involved in the application process. In fact, we have budgeted to provide some financial support to startups selected for the pre-incubation and incubation program for purchase of components for prototypes.

Q) How long does this approval process take?
We expect to complete the selection process and let the selected startups to join the program in March 2019.

Q) Are there a particular number of proposals that can be applied for?
We expect each startups to give only one proposal that they seriously wish to pursue. Each proposal may have plans to create multiple products as part of a solution or complementing each other.

Q) What is the deadline for submitting applications?
The application deadline has been fixed as 15th February 2019.