These are the specific items that judges will use to evaluate each submission.
Business Description: Details of the venture and what it does.
- How well was the concept explained?
- How reasonable is the new concept?
- How sustainable is the new concept?
- How scalable is the new concept?
Market Analysis: Characteristics of the market and description of its customers.
- To what extent is there a genuine need for the product or service?
- How well was the target market defined?
- How strong is the size and growth of the market?
- How strong is the consumers’ willingness to pay for the product/service?
Product or Service Analysis: The specifics of the product or service.
- To what extent is the description clear?
- To what extent is the product feasible?
- How easily can it be duplicated?
- To what extent is there a threat from potential substitutes for the product?
Competition: Identify current and potential competitors.
- To what extent have the current and potential competitors, competitive response, and analysis of strengths and weaknesses been adequately defined?
Marketing Strategy: How sales will be achieved.
- How realistically defined is the marketing plan?
- To what extent does the plan adequately address price, product, place, and promotion?
- To what extent are resources sufficiently allocated for marketing?
Operations: How the product or service will be produced and delivered.
- What is the likelihood of securing resources required for production?
- To what extent is there an ability to operate competitively and grow?
Finances: An overview of the required resources and economics of the venture.
- How compelling is the business model?
- To what extent have the resources required for the venture been addressed?
- To what extent has the team clearly and adequately presented a breakeven analysis?
- How reasonable are the financial projections?
- To what extent are there prospects for long-term profitability?
Investment Proposal: The terms and conditions offered to investors.
- To what extent did the entrepreneurial team explain the funding?
- How clearly were offerings to investors and anticipated returns explained?
- To what extent did the team calculate a realistic valuation?
- How feasible is the exit strategy?
Presentation: Overall effectiveness of the actual presentation.
- To what extent did the presenter(s) engage the audience and hold their attention?
- To what extent did the presenter(s) appear to speak with confidence authority?
- To what extent were visual aids (i.e. PowerPoint® slides) clear and valuable?
- To what extent was the pitch exciting and compelling?
- How efficiently did the team allot their time?
Overall Value: The feasibility and originality of the venture idea.
- Chances of success
- Originality of idea
- Judges gut feeling