The table below shows all the criteria judges will use to evaluate both the New Business Ideas and Emerging Companies.
| Judging Criteria |
New Business Idea (Executive Summary) |
Emerging Company (Business Plan) |
| Piques Interest |
Does the summary generate interest in the idea? |
Does it generate enough interest to read the full plan thoroughly? |
| Relevant Issues |
N/A |
Does the plan cover all issues and is it a stand-alone document? |
| Description of
Product or
Service |
Does the summary describe the product or service completely, concisely and is it easy to understand? Does the plan explain why there is a need for the product or service? |
Does it describe the product or
service completely, concisely and is it
easy to understand? Does the
plan provide proof of need for the
product or service? |
| Competitive
Advantage |
Does the summary explain
why the product or service is
better than the competition
based on features and/or price? |
Does the plan provide proof of
why the product or service is
better than the competition based
on features, benefits and/or price? |
| Customer Value |
N/A |
Is customer value quantifiable,
high and recognizable? |
| Market Size |
Does the summary estimate the
current market size? |
Is a large and growing market
proven and quantifiable? |
| Customer
Segment |
Does the summary define the
customer base that it is
addressing? |
Does the plan define the customer
base that it is addressing and
provide proof of customer interest
and the means to reach them? |
| Revenue Model |
N/A |
Is there a clearly defined model
that is cohesive and logical? |
| Sales/Marketing
Strategy |
N/A |
Is there a clear, consistent and
complete strategy? |
| Competition |
Does the summary identify the
current competition in the
trade area? |
Is current and future competition
identified and evaluated for
weakness or significant barriers? |
| Management |
Does it describe the
entrepreneur and the skills
needed to run this type of
business? |
Does the core management team
address all major areas with
experience and proven abilities? |
| Implementation
Plan |
N/A |
Is the plan realistic and
throrough? Is there a clear path to
success? |
| Financial
Planning |
Does the summary contain
reasonable estimates of
business potential? |
Are plans based on realistic
assumptions that have high
returns? Are they justified by the
sales/marketing strategy? |
| Financial
Statements |
N/A |
Does it contain reasonable,
justifiable projections of potential
with assumptions explained? |
| Impression of
the Document |
N/A |
Is the plan highly persuasive,
clear, concise and inspiring? |
Fields marked “N/A” are not being judged for the New Business Idea simply because of the
limited capacity of the Executive Summary, and not because they are less important when
planning for your business.
Emerging Company Spring finalists will also be required to present a 2-3 minute pitch at the
awards ceremony that will determine up to 25% of their final score.
