admission process
1.1 applicant guidelines
1.2 client responsibilities
1.3 evaluation criteria
1.4 evaluation process
1.5 graduation
1.6 special policies
1.7 apply
Evaluation Criteria

To be considered for admission to TEC, an applicant should be an information or communication technology-based company with a novel product or manufacturing process, or be in a related field.

TEC encourages diversity. TEC provides equal opportunities to entrepreneurs regardless of race, religion, or gender.

Clients are selected on a case-by-case basis. Evaluation criteria include, but are not limited to, the merit and completeness of the Application for Admission; the background, attitude and experience of the principals; the applicant’s commitment, both of personal time and financially, to the venture; good business references; and adequacy of the management team.

As TEC will evaluate potential clients with an emphasis on the following areas, the business plan submitted with the candidate company’s Application for Admission should clearly address these issues:


TECHNICAL
  • Is there a technical or proprietary competitive advantage for the product or process?

  • What is the lifecycle stage of the product?

  • Has the technology been proven to be feasible?

  • How many months until the first delivery of a product or process?

  • With what human or capital resources?

BUSINESS/MARKET
  • What is the lifecycle stage of the industry? Of the company?

  • What is the buyer concentration of the market (i.e. few large companies vs. general consumers)?

  • Is there evidence of a clear market opportunity or niche?

  • What are the current competitive conditions?

  • What are the expected barriers to entry?

  • Can the company attain a dominant position with high gross margins within that niche?

  • Is there growth potential for the company?

  • What is the overall quality of the business plan?


MANAGEMENT
  • How complete is the founding team? (i.e. how many key positions are filled?)

  • What is the joint experience of the management team?

  • Are the management team's business and technical backgrounds relevant to this business?

  • Is the management team committed and realistic in its expectations?

  • Will the team listen to advice?

FINANCIAL
  • Has adequate consideration been given to on-going funding of the company?

  • Does the company have specific funding identified for the current phase (during the time of its probable incubation)?

  • What are the long-term prospects for venture funding?
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