INCUBATION PROCESS AT SIIF PHASE- I Pre- Incubation Engagement PHASE- II Evaluation of Proposal PHASE- III Kick Start/ Getting On board PHASE- IV Incubation PHASE- V Closure of Incubation Engagement

PHASE- I PRE- INCUBATION Evaluation of Business Proposal by internal Evaluation Panel of SIIF (Annexure-1: Evaluation Criteria) Applying for Incubation at SIIF (E-mail/Walk-in) (Within 3 working days after discussions and meetings) On receiving Letter of Intent from SIIF, applicant accepts T&C for evaluation process. SIIF to give a B-Plan Template to the applicant. Accepted Rejected (Within a period of 7 days) Interaction with SIIF for Initial Screening of Idea SIIF to inform Date, Time and Venue for Evaluation session by Investment Committee. SIIF to give feedback along with reasons for rejection. (Within a period of 7 days) (Within 7 working days of receiving LOI) SIIF to give formative inputs on industry/ subject matter. SIIF to connect with external experts, if required. Applicant submits the business proposal as per the template provided by SIIF. PHASE- II Evaluation of Proposal

Evaluation of Proposal PHASE- II Evaluation of Proposal (On a notified date within the span of 3 to 4 weeks of Phase- I) Presentation on an appointed day to The Review Committee Pitching the Business Proposal to Investment Committee in the Evaluation Session. Meetings with SIIF Representative to work on comments and recommendations by Investment Committee. Response from The Review Committee and SIIF. (Within 1 Week of the Evaluation Session)) (In a span of 1 Week of result) SIIF to communicate to applicant the comments and evaluation by Investment Committee. Decision Possibilities Preparation of a Business Proposal’s PowerPoint Presentation. Only Incubation Support Incubation Support & Seed Funding Rejected SIIF to give feedback to applicant along with reasons of rejection. Accepted Rejected PHASE- III KICK START

PHASE- III Kick Start (Immediately after Company Formation) Sharing Company Details (Bank Details, PAN no., Incorporation and Identification Certificates), Promoters’ Details, AoA & MoA. Decision by Investment Committee Only Incubation Support Incubation Support & Seed Funding Rejected Signing Agreements with SIIF as applicable (Within 3 working days of Decision declaration) SIIF to give feedback along with reasons for rejection. SIIF issues final confirmation letter/Email with further processes. Incubation Services Agreement Share & Subscription Agreement and Term Sheet (Immediately after Confirmation letter/email) Process of Company Formation (If not already done) Phase- IV INCUBATION

PHASE- IV INCUBATION Incubatee to give a weekly update SIIF -Evaluation of Business Strategies and growth in every 2 Months. - P&L review and evaluation in every 6 months. Mentorship Use of Infrastructure Industry Connections Regular Training Review and advisory Seed Fund Provisions SIIF -Incubatee to give a weekly update -Evaluation of Business Strategies and growth in every 1 month. -P&L review and evaluation in every 6 months. Evaluation of IT and ROC File by SIIF at the end of every financial year. Submitting Utilization certificate of Expenses. SIIF

PHASE- V EXIT (Within the 3 Months Notice Period) POSSIBLE REASONS Completion of 2 Years (If No Extension is granted) ii) Underperformance iii) Irresolvable disputes among the promoters. iv) Substantial Change in the business of Company due to Acquisition, merger or amalgamation or reorganization deals. v) Change in Promoters’/ Founders’ team without concurrence of SIIF. vi) Investment made by SIIF into incubates’ Company is bought by Investors. vii) Violation of SSCBS’s or SIIF’s Policy. viii) Any other reason for which SIIF may find it necessary for an incubated company to leave. Releasing of Space or any other facilities provided by SIIF to the Incubatee. Settling of dues, if any. Closure of investment made by SIIF Buy back by promotion Write off, subject to prior approval of SIIF’s Board Buy back by external Investor.