The evaluation criteria include:
NOTE: The above criteria have not been displayed in any particular order and applicants should provide consideration to them without considering the order above.
The evaluation process for the PoC competition will be carried by an independent evaluation panel and will not be opened to the general public. Each application is made on a confidential basis and other applicants will not get access to other applications. The results of the applications will be posted on the VCIC website and individual applicants will be communicated via email and/or phone.
The application will be judged on financial and non-financial criteria. To maximise the chance of being shortlisted, the applicant should address both the financial and non-financial criteria.
All applicants have to comply with the relevant intellectual property law and regulations of the Government. The VCIC will take appropriate corrective actions where a successful applicant is found to have wrongly used the intellectual property of a third party.
The VCIC team will only inform short-listed applicants that they have been selected via VCIC website/email and/or phone for the training session.
The training session is expected to take place in July 2017. The final date will be confirmed soon and shortlisted applicants will be notified. Participation in the training session is mandatory for those accepted into VCIC.
Time and place of the training session will be communicated to selected applicants after the evaluation and shortlisting of applications. Details of the training session will be available on the VCIC website.
The details of the timeline for the development and submission of the Sub-project’s Full Proposal will be provided for selected applicants after the application shortlist. Shortlisted applicants will be trained during the focused training sessions to meet the requirements of the Full Proposal.
Please note that shortlisted applicants are not guaranteed grant funding. Grant funding, as well as the VCIC consultancy services package, will only be provided for applicants selected after the evaluation of the Full Proposal.
Shortlisted applicants will receive detailed guidance to develop and complete their Sub-project’s Full Proposals as well as the business models and technologies of the sub-projects. In addition, the shortlisted applicants will gain access to mentors for consultation and advice during the period.
Proof of Concept winners will be admitted into VCIC and receive business incubation services. In addition, they may be eligible for up to USD 75.000 in grant funding, depending on the final funding decision of VCIC and based on the result of the evaluation panel.
Terms and conditions of grant funding will be available in the Notification of sub-grant.
Winners of the PoC competition will be eligible to receive grant funding of up to USD 75.000. No equity investment is being made as part of the PoC competition.
In addition, successful applicants will gain access to VCIC’s advisory and technical support services.
After the admission of the sub-project, VCIC will provide further guidance on its access to finance programs and how this may assist applicants with their funding needs. At a minimum, VCIC will provide advisory support to increase the level of investment readiness of successful applicants. At the same time, VCIC have been building a network with the national and international investment community to provide sufficient support for selected enterprises.
The timing of any future PoC competitions is not yet known at this stage. VCIC will make a determination based on the practical situation and funding available. Please visit the website www.vietnamcic.org for any official announcements.
VCIC is a long-term initiative. Beside the PoC competition, VCIC is now receiving applications for companies that will then be eligible for services including the PoC grant. Even if not selected for PoC grant funding, applicants will be eligible for the incubation/technical advisory services being offered by VCIC.
The grant terms and conditions will be in the award agreement of each applicant.
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