RITES reserves the discretion of carrying out Independent Valuation of the Start-up entity before making investments.
Subsequent to approval, RITES shall send a Letter of Acceptance (LOA) to the shortlisted Start-Up informing RITES’s decision. The LOA shall have the salient features of the funding viz. Amount, Milestones etc. and an Investment Agreement.
The Funding shall commence after the Start-Up submits the signed copy of LOA as a token of acceptance along with the Agreement.
Note:- RITES shall keep the Information submitted by Start-Ups as strictly confidential.