Get Funded




Stage – 1 Call for Executive Summary

Announcement: 8 May, Online Submission Deadline: 15 June, 11.59 pm Pacific Standard Time

  • Applicants must complete the Preliminary Information and Declaration (Annexure II).
  • Applicants must submit an executive summary of their project online www.usistef.org.
  • For the executive summary format refer to Annexure III.
  • Applicants must apply under one of the two program areas.
  • Applicants will also be required to sign a declaration. For format of this declaration refer to Annexure IV.

Evaluation of Executive Summary

The Endowment Secretariat will check for the completion and eligibility of the Executive Summaries. Review by Joint Screening expert panels (one in each program area) comprised of subject matter experts, business professionals, entrepreneurs and Board members from both India and the United States will by August - end select a small number of executive summaries based on the evaluation criteria below. These shortlisted teams will be requested to submit a detailed business plan, technical information and make a project presentation (Stage-2).

Evaluation Criteria for Executive Summary

  • Problem being addressed
  • Market size and target customer
  • Societal impact
  • Innovativeness of product and technology
  • Commercialization strategy and timeline
  • Team's strength
  • Nature and need of collaboration


Stage – 2 Business Plan, Presentation and Technical Information

Announcement: 1st week of September, Online Submission Deadline: 5 September, 11:59 pm, Pacific Daylight Time.

  • Shortlisted teams from Stage-1 to submit a business plan, presentation and technical information online in prescribed formats (Annexure V) at www.usistef.org.
  • A PowerPoint presentation must be uploaded on the program website. The presentation should be geared for 20 minutes or less.
  • The proposed business plan should be achievable and demonstrate strong commercial potential.
  • The proposed business plan should specify the role of Indian and U.S. partners and should enhance the bilateral interests of India and the United States.
  • The proposed business plan should generate positive return on investments within a reasonable timeframe.
  • The proposed business plan should detail the terms pertaining to all of Intellectual Property developed or utilized in the project.
  • The proposed business plan should demonstrate a commitment to responsible and ethical business practices.


Stage - 3: Due Diligence & Site Inspection

STAGE-3: SUBMISSION OF DUE DILIGENCE INFORMATION BY THE FINALIST TEAMS

The finalist teams will be required to give written acceptance of the Terms and Conditions (T&C) specified in Annexure I. Applicants are encouraged to review these terms and conditions in advance of submitting the executive summaries and ascertain their ability to accept and comply with those terms and conditions. They would submit the Project Budget (Annexure VI), Financial Due Diligence information (Annexure VII) by email to endowment@indousstf.org by 20 October. The Due Diligence process would be initiated only after receiving the signed copy of the Terms & Conditions (T&C) from all the partners.


Stage - 4: Budget Discussions with the Finalist Teams

The Endowment Secretariat will conduct the Due Diligence process of Indian and U.S. partners, either directly or through a third party. This process will be completed by 20 November, and will include a budget discussion with the Indian and U.S. partners together and site inspection (if required) for Indian and U.S. partners respectively. The due diligence team will be constituted in each country and will be comprised of financial and technical experts and/ or Board representatives/ nominees. The due diligence reports will be collected, collated, and presented by the Secretariat to the Board as part of the recommendations to the Board.


Stage - 5: Final Selection of Awardees

The Board will make the final decision based on the recommendations of the Joint Expert Panels and Due Diligence reports submitted by the Secretariat. The Board will select the final awardees. The number of awardees may vary from award to award, depending upon the merit and quality of the proposal and the availability of funds with the Endowment Fund program. The Board reserves the right to adjust elements of the selection process and inform applicants of any adjustments, and to reasonably interpret the language and definitions of this handbook in cases of dispute or confusion. The award announcements will be made by January.


Stage - 6: Grant Release

The Endowment Secretariat will disburse the grant by mid-January based on the finalized milestone and grant release schedule. The project shall be implemented strictly in accordance with the Terms & Conditions (T&C) specified in Annexure I. The Awardees will be required to sign and accept the T&C prior to the release of the grant.