BGF is opened to all successful grant recipient companies that can demonstrate a potential for business growth. The evaluation process of companies will be initiated upon receiving the Investor Factsheet from the company. The evaluation process involves three main phases.
The phases are:
Initial Assessment : Investor Factsheet
After receiving and reviewing the company's Investor Factsheet, MTDC will follow up with an initial meeting with the company to better evaluate the business, team and the opportunity.
Processing : Company Presentation & Business Plan
During the presentation and discussion, the entrepreneurs and/or management of the company need to demonstrate a clear and convincing growth pathway for the company – such as what is its plans, how it is going to achieve that plan and what are the milestones required to monitor progress. In addition, the company should also know its funding requirement, how is the fund going to be utilised to achieve the growth and; finally, what is the next "leap" in the business after this growth is achieved, and how it will eventually attract follow-on funding from other sources such as VCs. For the presentation, in addition to the presentation slides, the company also needs to submit a 2- or 3-page Business Executive Summary. If MTDC decides to move forward with the evaluation of the company, it will request the company to submit a full and comprehensive Business Plan.
Approval of Process : Submission to TC & AC
After reviewing the full business plan, and if the idea is appealing, our Evaluation Officer will compile and prepare reports before presenting the proposal to the fund's Technical Committee (TC) for deliberation and subsequently to put forward a recommendation (either to approve or reject the proposal) to the Approval Committee (AC) for a final decision. The AC is the final implementation body of the fund. The applicants may also be required to present their proposal to the respective committees. All successful and unsuccessful applicants will be informed officially after decisions were made by the AC.