Selection Process

The start-up will fill out and submit an online application form made available on the VJTI-TBI website. The start-up must give all necessary details as indicated in the online application form. Incomplete applications forms will not be considered for screening.

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The online application submitted by the start-up will undergo a preliminary screening procedure to assess the eligibility based on criteria listed earlier in ‘Eligibility’ section. Preliminary screening process will also involve a due diligence on the information submitted by the start-up with regards to authenticity of the information, IP/Know-how ownership, legal status of start-up (if incorporated already) etc.

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An internal “Screening Committee” at VJTI-TBI will evaluate the business proposal for nature of business model, level of product/service innovation, market size, idea feasibility and scaling potential, pre-revenue evaluation of the company and financial structure and revenue model. Business proposals will be evaluated using the following criteria:

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Based on the recommendations of the “Screening Committee” at VJTI-TBI, shortlisted start-ups will be invited to give a final pitch presentation before the “Selection Committee” at VJTI-TBI.

The “Selection Committee” will recommend start-ups for the Incubation Program at VJTI-TBI based on evaluation of the business proposal for complexity of venture & level of required effort, market capitalization, financial need, timeline of growth and risk & reward analysis.

The start-ups recommended by the “Selection Committee” for the Incubation Program at VJTI-TBI will be invited to discuss the terms of ‘Incubation Agreement’ under which incubation support will be provided to start-ups by VJTI-TBI. The requirement of physical or virtual support, support towards services required by start-up, rent details, royalty rates, legal compliance, exit terms and NDA requirements will be discussed.

Once start-up agrees to the terms of ‘Incubation Agreement’ and executes the agreement, they will be inducted into the Incubation Program of VJTI-TBI and can start using the facilities available at VJTI-TBI.