Startup Funding
Startup funding is a capital provided to the selected applicants who have been selected as TED entrepreneurs. It has been categorized into two types. First type are those who have received pre-incubation training and the second type is for the entrepreneurs who only seeks seed capital and do not wish to attend the TED pre-incubation or the TED incubation training.
For the entrepreneurs who have received the pre-incubation training, they will be eligible to participate in the business plan presentation conducted by TED. During that, they will receive seed funding (Interest free loan) of up to 2 lakhs subject to their needs which will be analyzed by the panel of jury. These entrepreneurs can also apply for the investment award or revolving loan fund program of TED.
For those selected applicants, who only seeks funding for their business and do not wish to avail the business training support from TED, can avail the funding support through the revolving loan fund (RLF) program. TED will provide assistance in acquiring the loan amount with the necessary documents required to be submitted to the RLF. These entrepreneurs cannot participate in TED business plan presentation which is applicable only for the entrepreneur who have completed their pre-incubation training with TED however they can apply for the investment award challenge.
Eligibility Criteria:
To be eligible to apply for the seed funding, the entrepreneurs must meet the following criteria:
- Applicant must be a Tibetan national holding a valid and updated green book
- Applicant should receive pre-incubation training for the business plan presentation funding
- Applicant should be recently startup (Less than one year) entrepreneur who have detailed business plan and seeks only funding through RLF.
- Applicants business should be legally registered to apply for RLF.
- Applicants must have completed at least under graduate degree from any universities & colleges or any other equivalent course
Judging Criteria:
Applicant’s application or the presentation will be assessed by a team of selection committee and the advisory board of TED based on the following criteria:
- Business Model: The Business model of the applicant will be evaluated on the basis of:
- Innovativeness: The applicants business must be innovative enough to create something new or different from the existing competitors in the market.
- Sustainability: The applicants business must be potential to sustain in future.
- Ability to scale: The applicants business should have the ability to scale in future.
- Financial stability: The applicants business must demonstrate how they can reach long-term financial stability /growth with rational rates of return.
- Replicable: They applicants business must also demonstrate the potential to replicate their innovative model across regions.
- Unique Value Proposition: The applicants business should also demonstrate how their unique value proposition serves the needs of the customer in a competitive market.
- Social Impact: Applicants should present the impact of their business to the communities and how it will create job opportunities from their business in the Tibetan communities especially in the southern Tibetan Settlements
- Team: Applicants will also be evaluated on the basis of the strength of their leadership team and their expertise involved in their business. The application should also describe the network that the expertise has developed.