Entrepreneur Pre-Screening Requirement
Entrepreneur Selection Criteria
Investment Selection Criteria
Prior to a formal interview, all NSChE Foundation applicants will be screened against the following criteria to determine their fit with the program:
- Be no older than 40 years at the time of applying.
- Must be a University graduate with a strong background in Science, Engineering, Business, IT, Agro processing, Food science and production technology (preferably Chemical and Process Engineering Background).
- Not currently employed to ensure 100% participation during the program.
- Not currently involved in any incubator, hub or funding vehicle
- Strong interest and a viable business idea in one of the following sectors:
- Agro Processing, Renewable Energy, IT/Digital Technology/Software Applications, Food Processing/Technology and Food Preservation, Chemical Processing, Oil and Gas Processing, Manufacturing, Production Technology.
- Be willing to commit to a 6-month program dedicating 20 hours/week to develop the business, carry out market validation to understand your potential users, build and launch the business idea’s minimum viable product, MVP, prototype solution intended to solve the identified problem in the society.
During the formal interview, all NSChE candidates should be assessed against the following criteria to determine their impact potential:
- Strong entrepreneurial spirit.
- Strong background in science or business (preferably Chemical and Process Engineering Background. However, Agro processing, Food science and production technology will also be considered)
- High energy levels, enthusiasm, strong drive to succeed and High level of accountability.
- Excellent communication skills, Good networking and marketing skills.
- Strong leadership qualities, Self-discipline and Self-starter, strong problem-solving skills.
- Good knowledge of how to execute and should be ready to set up their business 6 months after joining, Innovative thinker and High tolerance for uncertainty.
- Committed to giving back to the community.
- Demonstrated interest in undergoing mentorship, accepting advice and support.
- Willing to contribute to the NSChE network and eventually give back to the organization.
Our evaluation of the business ideas focuses on the attractiveness of the value proposition and the target market, the viability of the business idea and the strength of the management team. Our selection criteria are as follows:
- A well-defined value proposition
- An addressable and growing target market
- A valid and clearly defined business model
- Real innovation and leverage technological applications (web and mobile) to solve problems with potential to change the industry
- High growth potential and the capacity to add substantial economic and shareholder value
- Potential to create a significant number of high-value jobs
- Strong market leadership potential
- Potential to scale
- Good professional management team
- Low bargaining power of suppliers and/or customers
- Few or no middlemen