Admissions Criteria

The North Texas Enterprise Center for Technology (NTEC) welcomes all technology entrepreneurs looking to start a new venture or grow an existing one. However, to ensure that NTEC can deliver the value-added incubation and acceleration services consistent with our Mission Statement we apply the follow general criteria for considering ventures for entry into our program:

  • Innovative and identifiable intellectual property.
  • Time to market for the ventures products/services should be no more than three (3) years.
  • Preliminary business plan including pro forma financial statements showing significant revenues within five (5) years.
  • Healthcare Industry focus with emphasis in medical devices and healthcare related information technology and software. Wireless technologies with broad application to include healthcare and/or medical devices.
  • Founding entrepreneur is full-time in the venture being launched and possesses niche specific expertise. Additional product development team members are desired.
  • Sufficient seed capital or personal financial resources to carry the venture four (4) months at the current burn rate.
  • A willingness to utilize the full breadth of services offered by NTEC and an openness to being mentored.

Before completing our application we encourage you to consider the criteria outlined above. As you can see, NTEC is looking for committed entrepreneurs with innovative ideas, a willingness to learn and be supported and the ability to have significant market impact within a reasonable timeframe. If you have any questions about whether your business venture is eligible for consideration, please contact us.

SUBMIT INFORMATION

Now that you have reviewed the Criteria for becoming an NTEC Program Company and studied our Review Process, we encourage you to submit an application for entry into the NTEC acceleration program by e-mailing your (non confidential) Business Plan and a short description of your needs to: apply@ntec-inc.org

As an applicant for consideration to become an NTEC Program Company you agree that NTEC has no obligation to admit your company to the program and that eligibility and final determination of acceptance or rejection is at the sole discretion of NTEC. Further, you acknowledge that NTEC cannot execute a Non-Disclosure Agreement due to the nature of our business. Finally the applicant agrees that NTEC has no liability to the applicant related to the application, review and selection process used to determine acceptance into the program.

Apply to NTEC

NTEC Due Diligence Process and Timline:

  1. Initial Application - Real time via link above
  2. Application Review - 3-5 business days after application submission
  3. Feedback for Go/No Go to next steps - within 5 business days
  4. Meeting with NTEC Director(s) - within two weeks of initial application
  5. Feedback for Go/No to next steps - within 5 business days of meeting
  6. Fourth Friday presentation to NTEC Advisors - fourth Friday of each calendar month
  7. Feedback for Go/No Go to next steps - within 10 business days of Fourth Friday presentation
  8. Final company selection decision - within 45 days from initial application submission

NTEC shares all due diligence findings and information with company applicants and works with applicants to address key issues that need to be addressed to progress in the due diligence process.  NTEC will also help with referrals to qualified advisors, mentors and service providers for those companies that apply but are not selected to participate in the NTEC acceleration program.  If you apply and are not selected you may make application in the future after addressing the key due diligence issues identified by NTEC during the review process.