Application and Evaluation Criteria
The purpose of this open call is to identify strong ideas and viable, sustainable projects within the CCI. We want to support these inititatives, and offer the tools required for the shaping and development of the projects.
Projects and ideas can be presented (one project per applicant) regardless of the phase in which their business is (pre-incubation, incubation, or acceleration).
The following points will be highly valued:
Regarding the proposal:
- Creativity and originality of the idea or project
- Scope for transformation and innovation
- Feasibility of project execution
- Factors regarding competition
- General feasibility of the project
- Actual demand for the idea/project (target market)
- Potential to branch out internationally
Regarding the entrepreneur
- Leadership skills and initiative of the entrepreneur (and, where relevant, of the team) to develop the presented proposal (level of engagement and enthusiasm, perseverance, ability to work, and commitment to the idea).
- Being open to learning, and committed to the training and consultancy programme offered by the Factoría Cultural.
- Ability to self-analyse, and analysing mistakes.
- Interpersonal skills: making contacts and negotiation ability.
- Ability to work in a team and comradeship; a positive attitude and ambition.
- Knowledge of English. Other languages will also be valued.
Next open calls:
The application period will remain permanently open from the 10th March 2014, and the Evaluation Team will meet regularly to discuss the selection of projects.
Factoría Cultural will award, on an annual basis, a number of grants for the residency, in association with public and private organisations. These grants will be published online at www.factoriaculturalmadrid.es
Registration and Selection Process
Requisites for applicants:
- Be 18 or over, of any nationality, with an idea for a project that falls within any of the fields of the CCI.
- Apply individually or as part of a team. For those who apply as a team, one person must be the designated point of contact with the organisation.
- Fill out the Application Form (see ANNEX I) with personal details, title of the project, relevant area of the CCI (according to Part 4) and, if necessary, the details of the other members of the team. The form must be emailed to email@example.com
- Description of the project in a maximum of 3 sheets that reflect the approach and idea of the activity, as well as its feasibility.
- CVs of the entrepreneur (or team)
- Elevator pitch (optional). The entrepreneurs can send a link to a 1-minute video which sums up the project idea, or any other documentation which adds value to the project.
The Evaluation Team will be made up of an industry professional corresponding with the presented project, along with a member of SECOT (a Senior Volunteer Business Advisor) and a representative from the Factoría Cultural team.
The Evaluation Team will choose, using a scoring system, the best candidates according to the criteria of originality and viability, evaluating the applicant’s ability to lead the project (see Part 6 for further details). The names of the selected candidates will be published on www.factoriaculturalmadrid.es. The acceptance will be formalised via the paying of the registration fee and the signing of a contract. The Evaluation Team will contact the candidates directly should they require any further information or a personalised interview to understand the idea or project better. The necessary evaluations in each phase will be carried out by the mentor, a service provided by SECOT (a Senior Volunteer Business Advisor) and by the Follow-Up Team.
What does Factoría Cultural ask for?
Factoría Cultural will do all it can to ensure that the selected entrepreneurs turn their ideas into sustainable projects. They will be guided and supported in every stage of the process. To this end, Factoría Cultural expects of the entrepreneur:
- Enthusiasm, effort and commitment in starting up their project.
- Meeting the objectives of each phase of the project.
- Following the rules established by the Factoría Cultural.
- Keeping the individual workspace clean and tidy, and respecting the shared space.
- Minimum three months’ stay.
Privacy and confidentiality
Factoría Cultural will safeguard the privacy of the data submitted by the applicants, as well as confidentiality regarding the ideas and/or projects presented in the open call.