HEC Innovator Seed

Fund (ISF)
Presented by Ahmed khoso
(R.A)
 Content
01 Overview

02 Priority Sectors

03 Eligibility Criteria

04 Application Requirements

05 Funding details

06 Timeline

07 Contact
Overview
The Innovator Seed Fund (ISF) is
part of the Higher Education
Development in Pakistan Project
(HEDP) supported by the World
Bank
A significant proportion of the
01
grants will be awarded to
startups with female founders
ISF will provide a package of
support and seed funding to early-
stage startups through HEC-
recognized Business Incubation
Centers (BICs).
02

The grant winners will receive

up to $35,000 in seed funding in

03 addition to support through BICs

in the form of entrepreneurial
training

Also legal training, support,

financial education, business
development service provision,
and investment readiness 04
training.
Key Areas
The priority sectors for ISF support include
but are not limited to:

• Agriculture, Food Resources and Agri Tech

• Banking, Microfinance and FinTech
• Creative, Digital Media, Arts and Culture
• Education and EdTech
• E-commerce and Smart Retail
• Emerging Technologies
• Health Care and Health Tech
• Housing, Construction and Manufacturing
• Sustainable Development, Climate and Energy
• Transportation and Logistics
• Other sectors that have potential for growth and
impact​
 Eligibility Criteria
Lead Applicant Must:

Either be a student, recent alumni and/or faculty members /

researchers of the Higher Education Institutions (public and
private).

Have endorsement from one of the HEC established

Business Incubation Centers (BICs)

Not have received sources of funding prior to applying for ISF grant &
Have an SECP registered business concern.

The final awardees will have to enter into a tri-partite

agreement between the Startup, the BIC and the HEC.
Requirements
1. Concept Note submitted online via HEC portal.
2. Full Business Proposal and Plan.
3. Endorsement from a BIC.
4. Business Registration documents with SECP​​.
5. Detailed budget and use of funds plan.

All ISF proposals documents must be submitted through the

HEC online portal by the main applicant having endorsement
from any of the HEC Established Business Incubation Center.

Interested applicants must first submit a Concept Note to the

Higher Education Commission by applying on the online
portal i.e. https://www.rfi.hec.gov.pk.

Applicants who qualify from the Concept Note stage will be

required to participate in a comprehensive training program (2-
3 weeks) on Writing a Business Plan and Pitching in front of
Funders. These trainings will be carried out by the BICs & will
focus on helping the applicants to form a good team and write
quality business plan using templates and structured hands-on
approach.
Funding
divisions
01
Project Management: 5-10%
of the total budget Funding Amounts
02 • Budgets for ISF awards will be up to $35,000
Procurement of Hardware: with a maximum project duration of 01 year.
20-30% • 25% of grants dedicated to female-led startups
03
Travel Costs: 10-15%
Funded Stages
04
Data Collection: 10-20% • Early-stage prototypes.
05
• Small-scale operational products.
Project Monitoring: 5-10% • Startups pursuing technology
06 commercialization​
Human Resources: 10-
25%​
 Evaluation Process
Full Business Proposals with Business Plan will undergo an evaluation by Expert Evaluators identified by
HEC based upon the following broad criteria:

Scalable Viability N e e d o f A s s i sta n c e

business idea
1. A well-thought-out business idea
2. In the process of establishing
business or operating at a small
scale.
3. Pursuing technology
commercialization
1. Financial viability: Applicant must
demonstrate that the business plan is
financially viable which is
supported by market need and data
2. Management team: The team
should be well balanced and multi-
disciplinary to leverage both
business, technology and other
disciplines required for in a
sustainable enterprise.
3. Resources availability: The
business must have the resources as
outlined in Business Plan
Applicant must demonstrate they
need funding / incubator assistance
and justify the purpose.
Other Considerations:
• Novelty of idea
• R&D Intensity
• High profitability potential
• High employment potential
• Satisfies market need
(national or international)
 TIMELINE
• Concept Note Submission Deadline: January 6, 2023 ​.
• Screening and Initial Review: January 2023.
• Business Proposal and Pitch Training: February 2023.
• Full Proposal Submission: March 2023.
• Final Pitch and Selection: April 2023.
• Incubation and Training: May - November 2023.
• Post-Incubation Investment Readiness Program: December 2023 -
February 2024 ​.
Startup Details About Startup Solution/ Results
Name/Title: Thematic Area: Arm Rehab Technologies is making
​
Arm Rehab Technologies Health & Health Care Tech functional and affordable robotic artificial
hands to empower people without hands. It
Startup Lead: Current Status: is estimated that about 400,000 people are
Mr. Muhammad Hamza Shafique Timeline Completed without hands in Pakistan and globally
around 20 million. Through ISF fund, Arm
BIC: International Islamic University Rehab hands has targeted these people to
Islamabad perform daily activities without being
Year 2021-22 dependent on others and can utilize their full
potential. This product has key features like
intuitive control, functional to perform
activities of daily life easily, durability and
affordability.
The robotic hand is being enhanced with
machine learning to provide an easier
control and an artificial sense of touch to it
so that it feels like part of the body.
(Approved Cost: Rs. With the support of ISF, own designs and
electronics has been designed and helped
the startup to revolutionize the prosthetic
7,700,000) market by providing robotic hands-on
subscription basis which makes it easy for
patients to get hands.
THANK
YOU