Startup Selection Criteria & Evaluation Process
The Program Management Group (PMG) shall be the primary authority responsible for the evaluation and selection of startups under the NERVE program.
The Selection Journey
Applications are evaluated through a comprehensive screening and assessment process. Selection may take place through Hackathons, Business Idea Competitions, Pitch Events, or direct one-to-one interactions.
Call for application (OCP)
Invite application through SAYUJ, STPI, NERVE and other Portals.
Preliminary Screening
Initial screening and evaluation based on Stage, Domain, Problem Statement, Founders Profile, Team Size, IPRs, → Funds, Revenue etc. Sort and prioritize startups for pitching in front of jury.
Presentation/ Pitch Round
Jury is comprising of Chief Mentor, Domain and Industry experts, VCs/ investors and external partners. Startup assessment based on their PoC, Prototype, MVP, GTM, Viability, Feasibility, Scalability and Relevance to NERVE Program.
Offer and Agreement Signing
Offer for On-boarding, Acceptance and Signing of Incubation agreement.
Onboarded
Offering Lab & Incubations Services and Bootcamp, training and mentoring, marketing & financial support.
Evaluation Focus Areas
The evaluation process will focus on assessing:
- Innovation and uniqueness of the idea
- Technical feasibility and technology strengths
- Commercial viability and market potential
- Scalability and long-term sustainability
- Potential for Intellectual Property (IP) creation
- Capability and expertise of the founding team
Application Requirements
Applicants must submit a detailed proposal/business plan covering:
- Executive Summary
- Strategic Vision & Value Proposition
- Problem Statement & Gap Analysis
- Market Analysis & Opportunity Assessment
- Product, Technology & IP Strategy
- Go-To-Market & Competitive Strategy
- Management & Founding Team Details
- Financial Plan & Revenue Model
- Organizational & Equity Structure
- Current Operational Status & Risk Analysis
- Any Additional Supporting Information
Key Evaluation Parameters
Applications will be assessed based on the following representative criteria:
Strength, innovation, and technology depth of the proposed solution
Market relevance, demand, and commercialization potential
Profile, expertise, and commitment of the founding team
Potential for Intellectual Property (IP) generation
Scalability and sustainability of the business model
Financial and commercial viability of the startup
Funding requirements and investment readiness
Projected financials including P&L, Cash Flow, and Balance Sheet forecasts
Expected time-to-market and market adoption potential
Estimated break-even timeline
Proposed incubation duration and development roadmap
Ready to Apply?
Submit your application and take the first step towards building your innovation with NERVE's world-class support ecosystem.