GENERAL CRITERIA FOR ADMISSION
The mission of Startup 405 is to assist startup companies in growing, prospering, and developing within the state of Oklahoma, yielding jobs and economic development for the region. The following criteria reflect the minimum requirements for consideration for admission into Startup 405. Meeting these criteria is no guarantee of admission; after a full application and the business summary are received, the Advisory Team will meet to discuss further action. These criteria are provided only as a guideline for application.

ELIGIBILITY REQUIREMENTS
• Be a start-up enterprise that has developed a product or service that fits the mission of Startup 405 and matches the programmatic strengths found at Startup 405.
• Be an enterprise that has been in existence for less than five (5) years.
• Have a strong management team and agree to have at least one employee on-site at the incubator on a regular basis.
• Have a written business summary, including product idea and concept, potential markets, general financials, and resumes of each principal of your business.
• Have adequate financial resources to remain in business for at least six (6) months, as indicated in your company’s business summary.
• Have no legal claims or lawsuits pending against your business at the time of your application.
• A full-time commitment of the entrepreneur
• Willing to participate in the specific services, programming, and resources needed to realize goals

Tenants are accepted through an application process into the incubator program and open to anyone, with the highest priority given to Women, Minority, Native American, and Veteran-owned businesses.

For Questions 13-19, you may skip if this information is provided in the business summary:

I declare that to the best of my knowledge, the information I have provided on this form is correct and that I have not omitted any facts that may have a bearing on my application. I understand that falsifying qualifications or information may lead to the dismissal of my application.

I understand that submitting this application does not guarantee acceptance into Startup 405’s incubator program.

I understand that if accepted into Startup 405’s Incubator program, we will be required to meet with Startup 405’s management periodically to discuss your business progress and other matters related to the business and the program of skills developed by Startup 405 staff.

I understand that in order to remain eligible for the ten-year OK State Tax Exemption, we must provide the following data annually while in the program and for five fiscal years following graduation. The minimum annual data acceptable will be Revenue, COGS, Expenses, # employees, Payroll, and Use of OK Tax Incentive (all data will be aggregated).

I further understand that this application is not considered complete until I have submitted the following documents: business plan, resumes of principles, financials, credit report (if requested), and current marketing materials.

Please submit the following items with this application:

a.      Business Plan

b.      Pitch Deck

c.      Resumes of Principals

d.      Financials - Recent balance sheet and income statement (if available)

e.      Any current marketing materials

f.       Signed letter of IP release (if required)