Four stages to potential approval
1. Receipt and Initial Screening
- Applicant submits a “Pitch Deck”, requirements of which can be found below or at https://www.portofsandiego.org/waterfront-development/blue-economy.
- During this phase, incubator staff will work with the applicant to ensure the application is complete and begin assessing if the project intent fits within the incubator core objectives. A Non-Disclosure Agreement (NDA) will be initiated during this stage, if deemed appropriate. At the end of this phase, the applicant will receive either an invitation to proceed to stage two or a notification that the Port is not interested in pursuing the proposal further.
2. Deep Dive Review
- The applicant will be invited to participate in a meeting (in person or virtually) with the Incubator Committee (consisting of Port leadership and Subject Area Experts) who will carefully analyze the financials, business plan, and logistical elements of the proposal (i.e., possible location, asset needs, potential interactions with other Port activities and programs, etc.) and additional considerations.
- This phase will allow for mutual information gathering and project refinement in preparation for the next step in the process.
3. Executive Review
- Proposals which have been approved by the Incubator Committee will be presented to the Port’s CEO. Applicants will not be required to participate in this meeting.
- The CEO will offer a corporate perspective review, considering the value of partnership, resources needed from the Port, and how the proposal integrates with current port businesses.
- If the CEO deems the proposal to be qualified to proceed, staff will initiate step four.
4. Board Review and Consideration of Approval
- The Port’s Board of Commissioners will receive the proposal for final review and consideration of approval and funding.
- The proposal will be presented with a staff recommendation.
- Port Staff, in conjunction with the applicant, will present the proposal to the Board at a
- regularly scheduled monthly Board meeting.
- If the Board approves the action, there will likely be a few more logistical requirements prior to receiving funding and other incubator services.
Incubator companies that want to renew partnership with the Port will follow the same process as above.