Application Process & Evaluation

Application Process

An online call for applications is hosted on the DTU-IIF website. Startups can apply for the scheme through the online portal. The application submission is entirely digital and no physical submission of documents is required.

Typical flow:

• Review the scheme details and eligibility on the DTU-IIF website.
• Prepare necessary information and documents for the application form.
• Submit the online application within the specified deadline.
• Wait for communication from DTU-IIF regarding shortlisting and next steps.

Evaluation, Selection & Closure of Incubation

Evaluation criteria for eligible applications:

• Need for the idea
• Feasibility
• Potential impact
• Novelty
• Team strength
• Fund utilization plan
• Additional parameters, if any
• Presentation

The Selection Committee evaluates applicants based on submissions and presentations, and selects startups for Seed Fund within 45 days of receipt of application. Selected startups receive seed funding under the respective incubator that selects them as beneficiaries, as per their preference shared during application.

A legal agreement is signed before release of the first instalment. Startups are required to submit a final report and audited utilization certificate at the end of the project duration.

Progress reporting typically covers:

• Progress of proof of concept / prototype / product development
• Progress of field trials and market launch
• Quantum of loan, angel or VC funding raised
• Jobs created and turnover of the startup
• Any other appropriate parameter