Deadline:

9th of November 2019. (for this round ) 

Location:

Egypt.

(Fully Funded)

Description

​START IT.

If you have a business plan and a prototype and you are looking for incubation at one of TIEC’s incubator centers. You can now apply to TIEC incubation at any time during the year. Every three months, the submitted applications will be evaluated and an invitation for pitching will be sent to the preliminary accepted teams. The incubation package exists of:

More Details

TIEC’s incubation is all about finding and supporting innovative startups with high commercialization potential. Therefore, for the project to be adequate for incubation.
EVALUATION CRITERIA:
  • The uniqueness of the proposed service/product and its commercialization potential.
  • Clearly defined target markets preferably large markets with high growth potential.
  • A well defined competitors analysis.
  • The competitive advantage of the service/ product.
  • The skills and expertise of the management team.
  • The prototype maturity
  • The submitted business plan should at least include a clear understanding of the following:
  1. – Problem and/or gap in the market and/or need and/or opportunity.
  2. – The Solution with all its features/ description and its current status​.
  3. – The prototype current status (include all images and links).
  4. – Market size, core and adjacent markets and the targeted market.​​
  5. – Competitors and the startup competitive edge.
  6. – Teams skills, experience and qualification.
  7. – The business model, revenue streams and value proposition.
  8. – Got to market, sales and marketing strategies and channels and the plan to acquire the targeted market.
  9. – Financial projection.
  10. – At least one year business and technical comprehensive milestones. ​

Opportunity Focus Areas:

  • Business development.
  • Management.
  • Entrepreneurship.
  • Innovation.

Required Languages

Arabic and English.

Eligible Countries

EGYPT.

Program Period

Program Period Timeline:

  • Application and Business Plan Deadline: 9th of November 2019.
  • Announcement of preliminary accepted applications:  20th of November 2019.
  • Interviews with shortlisted teams:  26th of November 2019.
    (TIEC’s Accelerator Program graduates are exempted from this phase based on performance feedback received from the accelerator team and will pass directly to the pitching phase):  24th and 25th November 2019.
  • Interviews results and call for pitching:  26th of November 2019.
  • Final Pitching:  5th of December​​ 2019.
  • Announcement of winners: 22nd of December 2019.
  • Beginning of Incubation:  1st of January 2020​​. ​​​​

Eligibility Requirements (Criteria)

project must score well on the following set of criteria:

  • ICT-based or ICT-related: The project must be serving any of the broad ICT categories or related to any of its vast inclusions.
  • Innovativeness: The project must be original, new and an advancement to any of the solutions readily-available in the marketplace or industry.
  • Readiness:The project must be supported by a working prototype (Full conceptual ideas will not be considered).
  • Entrepreneur-led:The project must be created, conceptualized and led by young entrepreneurs or those who have entrepreneurial traits. Undergraduates are not eligible for incubation and fresh graduates should have the needed skills as well as dedication and commitment in order to be incubated. We accept a startup with a single cofounder in case the cofounder has a good team with him.  Moreover, the team should be dedicating their full time/efforts to lead the project.
  • Solving a real problem: Idea must be offering a smarter or cheaper or upgraded or better solution to a real market problem than the existing solutions or solving a future problem or need.
  • Using Information Technology as a core product or as an enabler to provide a service: the project needs to be focusing on developing a technology related product or providing a service related to any sector but through developing a tool using information technology as an enabler such as developing a mobile/web application, a platform or a software etc.
  • Commercialization Potential: The project must be commercializable in nature and supported by a clear vision on how to penetrate the target market(s) and how it shall grow from there.​
  • Economic Viability:The project should offer an economically compelling proposition for investors or incubators.
  • Scalability: The project should have the potential to grow among significant market sectors and within multiple verticals or layers.
  • Status: Either entrepreneurs with prototypes/ proof of concept or startups that have been in business in less than one year can apply.
  • Dedication: The project/startup can not be incubated in another incubator or accelerator at the same time of its incubation at TIEC.​

Opportunity Cost

(Fully Funded)

  • 60,000 EGP in Cash over three installments based on milestones achievement
  • Up to 120,000 EGP of in-kind services such as consultancy services, software, hardware and support in marketing.
  • A working space with basic furniture and Internet Access.
  • Basic hardware and software tools during incubation time.​​
  • Access to technical, subject-matter advisory, business consulting and mentoring.​​​​​​​​​​​​​​

How to Apply

First Step:  Create an account in the TIEC website Here.

Second Step:  Apply in one of these personas’ forms:

As Startup or As Entrepreneur

Third Step:  Apply and Submit your business plan

If you don’t have a business plan, you can use Business Plan Template to prepare your business plan.

Fourth Step: Interview Phase.

Final step: Pitching.

Apply Now

More Details

Know more about this opportunity:

Official Website

Marj3 recommended links

To learn how to write CV, Essays, Personal statement,  and know about recommendation letters click here:

Marj3 recommended links

This Scholarship Published by:
” Ghada Raafat/ Egypt “

Reviewed by” Mohamed Magdi Eweda / Egypt ”
MARJ3 Intern
MARJ3 Scholarships team

Ghada Raafat

Author: Ghada Raafat