HP Incubation Centre

Selection Process

Proposals will be reviewed and shortlisted by 'Start-up Screening Committee (SSC)' based on relevance, business potential, deliverables and scalability.
Shortlisted applicants shall make a detailed presentation to 'Start-up Approval Committee (SAC)' which will carry out final selection.
Committees shall comprise of a quorum of members from Strategy, Finance, R&D, concerned SBU and other SBU.
HPCL will conduct Financial & Technical Due Diligence of the selected applicants, followed by signing of agreements.

Evaluation Criteria

	Technical feasibility of the idea Novelty Importance and potential impact Strategy for commercialization Team Barriers and strategies to address them (Regulatorym Ethical and EHS (Environment, Health & Safety), Investment needs, Key expertise gaps, Lack of key facility, Patents and lack of FTO)

Budget guidelines

Bank Account	All grantees will be expected to create a separate, auditable, no-lien bank account with a scheduled bank in order to receive the funds.
Budget heads	The typical budget heads allowed are: Equipment Manpower/ salary/ fees Consumables, research supplies etc. Incubation services/ rentals etc. Travel and related costs External/outsourced services IP costs Contingency
Equipment	Maximum of 30% of project cost can be considered for non-recurrent equipment. Specific exemptions can be considered on a case- to-case basis.
Manpower, salary	Maximum of 30% of project cost can be considered for manpower salary head. Scientific advisors to the HPCL grantee cannot draw a salary under the grant. If the applicant is formally employed (or registered as a student) with a non-profit academic or research organization, he / she cannot receive salary / stipend / fellowship from two sources simultaneously.
Consumables, research supplies Incubation services/ rentals, Travel and related costs	These heads are flexible but need to be justified at time of due diligence.
External/outsourced services	Outsourcing cost should not exceed 30% of project cost.
Contingency	Contingency head cannot exceed 5% of project cost.
Other heads	Funding can be used for conducting limited market research, patenting costs, working capital during the period, etc.
Waivers	The above guidelines shall be followed unless there is a specific exemption for a project approved by HPCL.
Last instalment	The last instalment is released after completion of the project and submission of final reports, and hence is in the nature of a reimbursement. Grantees are expected to plan for financing the amount corresponding to the last instalment via other sources.