Business Concept Elements and Rating Criteria
Likelihood business will successfully launch and prosper. Weight 10
Would you invest in this business or recommend this investment to a colleague?
Elevator Pitch (Pitch) / Executive Summary (Business Plan). Weight 1
Concise overview of the business concept -- providing an understanding of the basic business concept and sufficiently compelling for the audience to want to know more.
Communication. Weight 1
Oral: Articulate and succinct presentation, well designed slide deck, on-point responses to questions.
Written: Clearly organized, attractive, good use of graphics, concise financial overview, within page limit.
Team. Weight 1
Balance, complementary skills, key roles, experience, diversity, work well together.
Big Idea / Problem or Need. Weight 1
Clearly identified problem or need. Have validated that it is "real." Their "solution" fills need better than existing solutions. Scalable.
Product and/or Service. Weight 1
Stage of development: 1) concept, 2) working prototype/MVP, 3) beta testing with feed-back, 4) business has been launched, with growing sales.
Market / Customer. Weight 1
Clear understanding of customer profile(s) and market segment(s), Total Addressable Market (TAM), Service Addressable Market (SAM), Service Obtainable Market (SOM), and Launch Addressable Market (LAM).
Competition. Weight 1
Identifies direct and indirect competition, with a plan to effectively compete in the marketspace.
Revenue Model(s) / Finance / Ask. Weight 1
Team knows how they will generate revenue, has determined pricing, understands major costs and profitability. Understands cost to acquire customers and long term value. Good explanation of how they will use the $50,000 prize. Includes milestones.
Customer Validation / Traction. Weight 1
Team demonstrates how they validated their hypotheses of problem/need, value proposition, product-market fit, revenue models, pricing decisions, costs, and other key decision elements.
Barriers to Entry / Unfair Advantage / IP. Weight 1
Business has ways to maintain its unfair competitive advantage (copyright, trademark, patent, proprietary information).
1 = Strong dislike
2 = Don’t like it
3 = Like it
4 = Love it