Q. Where do I apply for the ISF Program?
A. The Innovator Seed Fund Applications for 2022-23 Call can be submitted on ISF Portal https://rfi.hec.gov.pk.
Q. What is the deadline for submission of ISF Concept Notes 2022-23?
A. The deadline is January 14, 2023 11:59pm.
Q. Who can apply for the ISF Program?
A. The ISF Program is open for innovative startups application submission, if the applicant fulfills the following conditions:
- Either be a student, recent alumni and/or faculty member(s) / researcher(s) of the Higher Education Institutions (public and private).
- Have endorsement from one of the HEC established Business Incubation Centers (BICs).
- Not have received commercial sources of funding prior to applying for ISF grant.
- Have an SECP registered business concern.
Q. Who will be the Lead /CEO for the Startups?
A. The Lead /CEO of startup must be either a student, recent alumni and/or faculty member/ researcher of the Higher Education Institutions (public and private).
Q. Should my startup be associated with a Higher Education Commission (HEC) established Business Incubation Centers (BICs)?
A. You will require an endorsement from one of the HEC established Business Incubation Centers (BICs) to be eligible for the ISF Program, as in case of award your startup will be their incubate.
Q. Where can I find details about HEC Established BICs?
A. HEC Established Business Incubation Centers (BICs) details are available on HEC BIC Website also on HEC ISF website DOWNLOADS section.
Q. How can I register my startup with Securities and Exchange Commission of Pakistan (SECP)?
A. You can ask your BIC director/manager for help or find details on SECP company registration here on this link: https://www.secp.gov.pk/company-formation/registration-of-company/
Q. Will I be required to send any templates to apply for ISF?
A. Once you register on the HEC RFI portal as a Startup, you'll have to send us a Concept Note. The ISF Concept Note Template is available in the "Downloads" Section and needs to be uploaded with the online application.
Q. How much funding is anticipated through ISF Program?
A. ISF Funding for innovative ideas and early-stage startups is up to $35,000 equivalent to be paid in PKR.
Q. The ideas/Business plans/Startups in the BICs of private sector universities are also acceptable for you?
A. If they are endorsed and supported by the HEC established BICs (public).
Q. I am facing problems in registration on the portal, how can I be helped in this regard?
A. The portal application submission guidelines user manual is available on our website having dedicated step-by-step procedure to apply for the ISF program. If the problem persists, please write your query at isf@hec.gov.pk.
Q. I have forgotten my password and the system is not sending me forgot password links, what should I do?
A. Please immediately register your complaint at onlinehelp.hec.gov.pk and send a copy of information at isf@hec.gov.pk.
Q. What are the mandatory documents required to be uploaded with the application?
A. The mandatory documents include the concept note and the SECP registration certificate.
Q. On what parameters my business idea will be evaluated?
A. The proposal will be evaluated based on scalable business idea, viability, need of assistance, team, novelty, employment potential, innovativeness, etc.
Q. What is the grievance procedure if I am not satisfied with the evaluation process?
A. In exceptional circumstances, applicants submitting ISF Full Business Proposal that was not selected for funding may submit a written Notice of Grievance to the Ethical Appeal Review Board / Grievance Redressal Committee at the Higher Education Commission (HEC) within 07 working days of selection results being announced. A Notice of Grievance is permitted only when the start-up believes that the proposal was not evaluated fairly or in a reasonable manner. The detailed grievance procedure is available at https://www.hec.gov.pk/english/services/RnD/Pages/Grievance-procedure.aspx.
Q. My query is not addressed in the above listed FAQs, whom should I contact?
A. You can write your concern at isf@hec.gov.pk and our team will revert in due course.
