Project Evaluation Criteria
Project Evaluation Criteria at TDB
TDB accepts application round the year. The proposal submitted by the industrial concerns goes through rigorous evaluation process before final financial sanction by the Board. These evaluation criteria includes Initial Screening Committee (ISC), Project Evaluation Committee (PEC), Due-diligence (in the projects with higher magnitude). The project, cleared by these levels, goes for final approval either by Chairperson, Sub-committee or the Board.
Initial Screening Committee (ISC)
The Initial Screening Committee (ISC) examines, internally, the application received, from the point of view of completeness of the application, objective of the project, status of the technology, track record of the applicant and total cost.
Such screening may include preliminary discussions with the applicant and technology provider and calling for a presentation by the applicant. If the application is not meeting the criteria prescribed for TDB‟s financial assistance, and if it is likely to be covered under any other scheme operated by other departments, the applicant is advised accordingly.
The formal applications in Form-A received by TDB is examined expeditiously by the Initial Screening Committees. In case the application is not covered by the Project Funding Guidelines of the Board, it may be rejected and such a rejection is communicated within four weeks of receipt of the application. If the application is found falling within the guidelines but lacking in some details, they may be called for within four weeks of receipt of the application.
Project Evaluation Committee (PEC)
Based on the recommendations of the Initial Screening Committee, an application to TDB is evaluated by the Project Evaluation Committee (PEC).
The Chairperson appoints the Project Evaluation Committee on a case to case basis consisting of experts (scientific, technical and financial) as may be required, keeping in view the nature of the project, maintenance of confidentiality etc., for an independent evaluation of the project proposal. The experts (serving or retired) may belong to government departments, R&D organizations, academic institutions, industry, industry associations and financial institutions. The PEC may also include a successful innovator who has turned into a successful entrepreneur. The composition of the PEC shall not be less than 4 members.
The PEC shall evaluate the application for its scientific, technological, commercial and financial merits. The evaluation criteria shall include:
- Soundness, scientific quality and technological merit;
- Potential for wide application and the benefits expected to accrue from commercialization;
- Adequacy of the proposed effort;
- Capability of the R&D institution(s) in the proposed action network;
- Organizational and commercial capability of the enterprise, including its internal accruals;
- Reasonableness of the proposed cost and financing pattern;
- Measurable objectives, targets and milestones;
- Track record of the entrepreneur;
The PEC normally hold its evaluation meeting at or nearby the project site. The applicant is given full opportunity to present all aspects of the project proposal including detailed technical, financial and commercial presentation along with the technology provider.
Due-diligence is conducted by an external agency for the proposal seeking financial assistance above Rs. 10 crore and/or the project cost is above Rs. 30 crore.