• Phase 1 – Screening

Applications are assessed for completeness, relevance, innovation/originality and whether the incubator can make a difference to the solution, team and enterprise.

• Phase 2 – Shortlisting

Applications are assessed for coherence, technical feasibility and preparedness for pitching.

• Phase 3 – Selection

Pitching & evaluation by an independent Selection Committee. The Committee makes a recommendation to RSTP on whether an applicant can be admitted into the incubator or not.

1. Relevance

A demonstration that the proposed solution addresses a real and significant challenge in any of the priority sectors. The innovation-led enterprise (start-up) must be founded by Swati nationals and can have a turnover ranging from E0 – E20 million.

2. Innovation/originality & intellectual property

A demonstration that the proposed solution is new or an improvement of an existing solution.

3. Founder(s) or team strength

Evidence that founders have skills to develop the product or service and have a long-term vision for the business, a strong work ethic, are teachable and willing to acquire technical and business know.

4. Prototype or proof of concept

The solution should be between Technology Readiness Levels (TRL) 2 to 9. TRL 2 represents an idea that is supported with adequate technical research and a feasible methodology that will lead to an experimental proof of concept. TRL 9 represents a ‘qualified’ or ‘certified’ technology.

5. Proof of market attractiveness and product opportunity (market research)

A clear description of the market characteristics and customers and research that confirms that the product or service will fill a gap and evidence of understanding of competitor positions, advantages, disadvantages and potential response of competitors to the proposed product or service.

6. Commercialization and financial evaluation

Clear revenue streams, price model, and a viable business model.