Selection Criteria
Stage 1: Business Executive Summary Submission
Open Category (no limit to number of participants)
| No. | Assessment Criteria | Weightage |
|---|---|---|
| total | 100% | |
| 1 | Technological, product or service innovation | 10% |
| 2 | Market understanding and analysis | 10% |
| 3 | Plan implementation Feasibility | 15% |
| 4 | Potential environmental benefits | 10% |
| 5 | Business Strategy and Potential | 40% |
| 6 | Business Creativity | 10% |
| 7 | Professionalism and presentation | 5% |
This portion of assessment would not judge teams based on how complete the business plan is. It will be judged more on the potential for success. Attention will be paid to identifying proposals which are technically feasible but have yet to develop a strong business angle. The same goes for business plans that seem less professional but which might actually have potential given adequate support.
Stage 2: Business Plan Guidance
6 or more teams will be selected.
| No. | Assessment Criteria | Weightage |
|---|---|---|
| total | 100% | |
| 1 | Business plan Implementation readiness | 10% |
| 2 | Market analysis and competitive advantage | 10% |
| 3 | Management Capability | 20% |
| 4 | Operational Feasibility | 20% |
| 5 | Economic Attractiveness | 20% |
| 6 | Risk Mitigation Strategies | 15% |
| 7 | Industry Expert Feedback | 5% |
This portion of assessment would judge teams based on a critical review of the business plan considering amongst others issues whether it is
- thoroughly prepared,
- economically attractive,
- has identified a strong market demand for the business
- shows a competitive advantage in the market
- demonstrates a strong, committed management team and/or a clear recognition of what will be needed,
- has a sound investment structure, with potential exit strategies for investors,
- well thought out in terms of risk/threats involved.
Stage 3: Business Plan Presentation
Up to 6 teams will be given the opportunity to make a presentation
| No. | Assessment Criteria | Score 1-10 |
|---|---|---|
| total | 100% | |
| 1 | Definition of market | |
| 2 | Definition of products or services | |
| 3 | Revenue generating strategy | |
| 4 | Credibility of marketing plan and strategy | |
| 5 | Financial projections reflection of true operating costs and capital expenditures | |
| 6 | Achievability of projected revenues and earnings | |
| 7 | Identification of competition and description of competitive advantages of proposed products or services | |
| 8 | Programme for protection of IP is applicable | |
| 9 | Focus on critical elements for success of business | |
| 10 | Definition of investor exit strategy | |
While the panel of judges will be provided with an executive summary, they will not review the final business plan in detail. The judging will therefore be based largely on the presentation and its impact.