Judges' Evaluation Criteria
Business Plans will be evaluated as follows:-
Clear, exciting and effective as a stand-alone overview of the plan.
Business purpose, history, genesis of concept, current status, overall strategy, and objectives.
Description, features and benefits, pricing, current stage of development, proprietary position.
Description of market, competitive analysis, needs identification, market acceptance, unique capabilities, sales / promotion.
Plan for production / delivery of product or service, product costs, margins, operating complexity, resources required.
Backgrounds of key people, ability to execute strategy, personnel needs, organisational structure.
Presented in summary form and easy to read and understand. Consistent with the plan and effectively captures financial performance; Monthly for Year 1; Quarterly for Years 2 & 3, Annually for Years 4 - 5).
a. Cash flow statement
b. Income statement
c. Balance sheet
d. Funds required & uses
e. Assumptions, trends, comparatives
Proposal / terms to investors which indicates how much is needed, the ROI, the structure of the deal and possible exit strategies.
Market opportunity, distinctive competence, management capability, financial understanding, investment potential.
Is the business plan presented clearly and concisely, and is it easy to understand?
Final Presentation
Presentations will be evaluated as follows:-
- Materials presented in clear, logical and / or sequential form related to business plan
- Ability to relate need for the company with meaningful examples & practical applications
- Ability to maintain the judges’ interest
- Quality and use of relevant visual aids
- Ability to understand judges’ inquiries
- Appropriately responds to judges’ inquiries with substantive answers
- Use of time allocated
- Poise and confidence
Viability of Company
The viability of the company will be measured in following way:-
There is a clear market need identified and presented as well the company’s value proposition to satisfy that need with a clear route to market to exploit the need.
The company provides something novel / unique / special that gives it a competitive advantage in the form of unique business value and unique sales proposition (UVP and USP).
The team can effectively develop the company and manage the opportunity and risks associated with the venture, demonstrating the benefits of a support network of Non Executive Directors or similar, as an example.
The team has a solid understanding of the financial requirements of the business and the systems to monitor and control its financial aspects.
The business represents and demonstrates a real, attractive investment opportunity which an investor would consider.
