How can a company
Applicant companies must meet the following initial requirements:
- The start-up must be mainly focused on High tech (such as wireless-life sciences, wireless smart grid, etc), business, product or service.
- The company must be incorporated and operating as a start-up or in an early stage of development.
- There must be a clearly identified target market and applicants must have knowledge of the market requirements.
- The business, product or service must have a defined development plan.
- Applicants must have demonstrated domain expertise.
- The company must exhibit potential for creating new jobs within San Diego.
- Applicants must be willing to commit to certain EvoNexus community entrepreneur educational outreach programs.
- The business must be located in San Diego.
- The company must consist of less than 10 employees (full time or equivalent) upon application submittal.*
Applicant must complete the following steps:
- Submit a completed application.
- Participate in a phone and/or face-to-face interview with the EvoNexus Committee and CommNexus CEO. Phone and/or face-to-face will depend on how far the applicant makes it in the selection process.
- Provide reasonable additional information, as requested by EvoNexus, to facilitate the selection process.
Applicants are reviewed and selected based on a variety of factors including:
- Business potential including the transformational nature of the technology or device
- Clarity of market and product or service focus
- Sustainable competitive differentiation
- Capabilities and/or experience of team
- Potential impact of the business on the San Diego community, in particular on economically depressed or underserved areas or sectors
- Commitment to community education through the use of interns, entrepreneur education via community outreach and mentor programs
- Quality of milestone-based plan for successful departure within 24 months from the incubator
Graduating criteria will be based on following:The maximum time period for any company is anywhere from 6 to 18 months. A successful graduation occurs when a company can survive and flourish without the support of the incubator. Generally a successful departure will occur upon completion of a key milestone such as financing, however, this is not a requirement for a successful exit. An early departure from the incubator may occur. The EvoNexus Committee will meet with each company monthly to review milestones and objectives using criteria similar to the entrance criteria. A company will be given two weeks notice in the event that they fail to perform to an acceptable level.
Click here to apply for EvoNexus