GUIDELINES

Scope

Without limiting scope unduly, the projects and technology entrepreneurs chosen shall be:

• Focused on a leveraging science and technology/ inventions

• Focused on building a sustainable and scalable entrepreneurial venture

• Any other themes suggested by the Project Oversight Committee (POC)

There shall be no restriction on the background of the entrepreneur. However, preference may be given to:

• Women entrepreneurs

• First generation entrepreneurs from under-privileged backgrounds

• Social enterprises (as defined in http://www.venturecenter.co.in/pdfs/VC-Policy-Social-Enterprise.pdf )

• Any other criteria suggested by the Project Oversight Committee (POC)

The selected entrepreneurs shall be called the “Indus Entrepreneurship Fellows”.

If selected, the applicant will become an incubatee of Venture Center after fulfilling the admissions criteria. Venture Center will execute appropriate agreements with the grantee.

The applicant should be an incubatee of Venture Center for the entire duration of the Project.

Support (to the entrepreneur or his/her startup) can be in different forms and as deemed appropriate by the POC.  The POC can suggest the appropriate mechanism based on a) funds available, b) the need of entrepreneurs, c) strategy for maximizing impact and d) the best and efficient use of funds at any given time.  The CSR grantor (Indus Biotech) has suggested that Venture Center should deploy the funds with flexibility and respond to emerging needs — and not be constrained by the strict and inflexible guidelines. This could include:

• Project grants

• Prize money

• Travel grants

• Access to specialized professional services

• Subsistence stipends

• And any others suggested by the POC and allowed by Venture Center policies.

Selection criteria

• For FELLOWS:

  • • Preference will be given to first-generation science / engineering based entrepreneur who can communicate his/her passion and commitment to entrepreneurship and demonstrate ability to raise resources and execute on a plan.

• For PROJECTS:

  • • Preference will be given to flexible  and timely support that will help a startup negotiate a key turning point.

Monitoring and reporting

• The  Project Leader shall periodically review projects and report the progress to the POC.