What is being judged?

• 3 minute Video Presentation
• 2 page Mini Business Plan
• 4 Slide PowerPoint Presentation

Scoring Rules

Each team’s response to the challenge will be assessed against the judging criteria below.

• Creativity and Innovation – How creative and innovative is the idea?
  This is the assessment of the “wow” factor. It is a measure of how the team stretched their thinking and conceived an original idea which at least on a feasibility test would be something the world needs but had not thought of yet.

• Costings – Have costs been adequately considered, calculated and explained?
  Show superior awareness of the realities of commercial success. Whether it is in profit potential, cost containment or method of financing good work, the team will need to show they understand the sources of funds and the requirements for any venture to be self-sustaining if at all possible. It must have a value and the team must be capable of convincing various supporters and finance sources to join their dream based on the good business sense displayed. There should also be evidence of the team’s awareness of the manufacturing or preparation process to go to market, raw materials to be used and healthy respect for the environment.

• Marketing and Market Research – How effective is the marketing strategy? How will it be marketed to the target audience? Teams will need to show they have researched the potential market and segment to determine there is every likelihood that the service or product will be taken up in appropriate numbers. Not only is the upfront research needed but they have to be able to demonstrate how they will promote the offering to the market. There will need to be details of how the market will be reached once identified. Be specific about pricing and packaging.

• Communication – How well is the idea presented?  Was the presentation delivered effectively within the 3 minute timescale? Teams have a chance here to impress the judges with the clarity with which they deliver their proposal to the backers. Is your delivery easy to understand and interesting?

 The weighting of each category is 25%.

As part of the challenge teams will be required to:

• Produce a mini business plan up to 2 pages in length.
• Produce a working model of the product.
• Produce a 4 slide PowerPoint file.
• Deliver a 3 minute oral presentation.