Selection Process

Two-Stage selection process is as follows

Stage 1: Submit Executive Summary/ Plan

As a first step, the prospective company/individual should submit an SBV – MGM Bio – Incubator Application containing all the details of start-up venture, team members, stage with a Business plan and other document.

Evaluation of the proposal will be based on, among other factors, the following criteria:

1. Strength of the product idea in terms of its novelty, technology content, innovation, timeliness and market potential.
2. Profile of the core team/ promoters
3. Intellectual Property generated and the potential of the idea for IP creation.
4. Stage of the Product/Start-up and Time to market.
5. Commercial potential, demand and requirement.
6. Scalability
7. Financial/ Commercial Viability and 5 year projections of P&L, Balance Sheet and Cash Flows.
8. Funds requirement and viability of raising finance.
9. Involvement of SBV faculty, alumni, students in the venture.

Stage 2: Presentation

After the initial submission, the internal screening committee will invite the applicant to present before the committee about the critical aspects of the business plan. Based on the presentation final recommendation will be made by the internal screening committee towards the entry of the individual/company into the incubator. The decision of the internal screening committee will be informed to the individual/company immediately or within two days of presentation. The presentation can also be made through video conferencing due to unavoidable circumstances. However, prior information has to be sent to the internal screening committee regarding the same.

Result