The careful selection of the right entrepreneurs, businesses, into IDC is one of the most important factors of incubator’s success. Your success is also our success.
To ensure we maintain high standards a number of selection criteria are applied to all applicants.
Client assessment criteria
These follow international best practice and have been used for many years by the applicants in assessing potential technologies for commercialization. The incubator has the potential to support the development of new knowledge based industries in the region and this must be an important criterion for entry into the incubator
- There must be a clear and defined market need for the project.
- An awareness of the regulatory requirements for businesses.
- An awareness of market variable which surrounds the project.
- The entrepreneur should be knowledgeable about project environment & surrounding circumstances.
- Being able to secure a certain percentage of the total required funds for the project.
- A competitive edge over similar products in the market.
- The business concept of entrepreneur project should falls into one of the Kingdom's strategic or economic priorities such as water desalination technology, new materials, petrochemical catalysts, information and communication technology, biotechnology, Marine science and environmental sector including renewal energy and resources.
- Be capable of developing a business plan.
- The proponent needs to demonstrate a clear commitment to being involved with the commercialization of the product.
- Project should be attractive to potential investors.
- The entrepreneur is required to produce a prototype if the idea of the project is novel.
- The entrepreneur should be in need of the services which are provided by IDC.
- The Entrepreneur should posses the personal which enable him to succeed.
- It’s preferably to have Novel ideas.