Entrepreneurs Development Initiative (EDI)

This incubation initiative helps ISB graduates who have business ideas and an entrepreneurial attitude, with financial support, mentoring and business resources to create and sustain their own successful ventures. 17 ventures have been incubated under this initiative thus far.

Eligibility
Individuals/teams with business ideas that involve innovative/technology or non-technology based ideas provide value added market solutions/services and demonstrate scalable business potential and having a business plan in place with an intent to commercialize and set up a business enterprise qualify under this program.

Benefits
Some of the benefits the students can reap through the EDI are:-

• Mentoring and financial support to selected teams
• Ventures will be incubated at ISB
• Assistance in development and review of the business plan
• Access to WCED and ISB resources
• Entrepreneurial development opportunities through seminars, workshops and mentorships
• Access to funding units and community professionals with needed expertise
• Networking atmosphere with other new business owners

The Selection Process

• Submit an expression of interest (EOI) along with the executive summary.
• Submit your B-plan by the end of Dec’ 2009
• Review by WCED internal Team
• Provide additional information if required for assessing potential and viability
• Present a Business Summary describing critical aspects of the business plan to a Screening committee
• Enter into a formal agreement, once the project is approved

Evaluation Criteria
Some representative criteria to be applied for evaluation (not limited to these)

• Strength of the product idea in terms of its technology content, innovation, timeliness and market potential
• Profile of the core team / promoters
• Funds requirement and viability of raising finance
• Time to market
• Break-even period

WCED will notify all the selected teams. For teams that qualify for the whole initiative, WCED will work out the details with the team on the following:

• Scope of the business/road map
• Scope of the initiative
• Periodic review process
• Scope of the financial support
• Teams will sign the required documentation

EDI Ventures
For the list of ventures, please click here.

References

• Checklist for Incorporation of Companies
• Filing of Forms
• Trademark