1. Applications will be initially screened for eligibility as per Karnataka Startup Policy 2022-27 and Data Sufficiency by Startup Cell, KITS. The shortlisted applications will be evaluated by independent jury members.

The following parameters will be considered for evaluation

1. Concept/Technology
2. Ability to demonstrate Proof of Technology/PoC
3. Business Potential
4. Team strength
5. Unique selling proposition
6. Funds raised
7. Pre Orders
8. Demonstrated Prototypes
9. Product Competitiveness in the market
10. Available Products/ process in the market

2. The Karnataka Innovation and Technology Society (KITS) shall select a list of eligible women entrepreneurs through their expert panel and submit to the Karnataka State Women’s Development Corporation with the recommendation.

3. The Project Implementation Committee chaired by the Managing Director, Karnataka State Women’s Development Corporation would select the women entrepreneurs and sanction the loan directly to the beneficiaries’ account through RTGS.

4. After six months of issuance of the loan, the loan will have to be repaid in 60 equal instalments including the annual interest rate of 4%.

5. The loan assistance under this scheme will be provided only for winners or runners-up of Elevate/Idea2PoC Calls.