IX - Evaluation Criteria

1. Start-Up Challenge and Caribbean Innovation Challenge

 I. Score percentage for Semi-Finals Evaluations

 

Element

Objective

Scoring Weight

A.- Business Plan

 Technical Review

65%

Innovation

Creativity and Originality

20%

Market Opportunity

Response to Clear Market Needs

15%

Business Model

Human and Technical Resources

15%

Financial Feasibility

Profitable/Sustainable

15%

     

B.- Video, Website and Prototype

 

35%

Video

 

10%

Website

 

10%

Prototype

 

15%

Total Percent

 

100%

 II. Evaluation Scale: 

Business Plans will be evaluated on the following criteria with points assigned from 0 to 5 following this rating scale: 

0

= Does not meet the criteria at all or attempt to – Unacceptable.

1

= Meets some criteria but unacceptable - Very poor.

2

= Meets the criteria minimally – Poor.

3

= Meets the criteria but does not exceed it – Adequate.

4

= Meets criteria and substantially exceeds it – Good.

5

= Meets criteria and demonstrates highest excellence and superiority – Excellent.

III. Business Plan

A. Technical Review  

1. Innovation

• The product/service is unique

• Demonstrates a novel business process

• The business idea demonstrates improvements by introducing something new/different from existing ones

• The proposal is possible and realistic

2. Market Opportunity

• Understands the market and identify the customers

• Demonstrates that the product/service is competitive enough to achieve a leadership position in the market

• The business model is scalable

3. Business Model

• Integrates its resources with its development strategies

• Team capable to execute the project

• Integrates technology into the production process

4. Financial Feasibility

• States its funding strategy

• Sustainability/profitability makes sense

•Correctly analyzes its cost structure/financial projection and investment strategies

B. Video, Website and Prototype

Description

1. Video

• How effective does the promotional video presents the solution to the problem?

• How well does the promotional video encourage people to support the initiative?

2. Website

• How effective does the website inform about the product/service?

• How creatively does the website outreach the target audience?

3. Prototype

• The prototype demonstrates the product/services with a viable solution

• How well does the Team present a credible and / or functioning prototype?

• How well does the prototype demonstrate innovative design / functionality?

 

2. Eco-Challenge

 I. Score percentage for Semi-finals Evaluations

For Eco-Challenge, the following criteria will be taking into consideration:

 

Element

Objective

Scoring Weight

 

Project Plan

 Technical Review

100%

 

- Innovation

Originality & Viability

30%

 

- Market Feasibility

Scalability and Industry connection

25%

 

- Management Feasibility

Human and Technical Resources

20%

 

- Financial Feasibility

Profitability and Financial Strategy

25%

 

II. Evaluation Scale

Business Plans will be evaluated on the following criteria with points assigned from 0 to 5 following this rating scale: 

0

= Does not meet the criteria at all or attempt to – Unacceptable.

1

= Meets some criteria but unacceptable - Very poor.

2

= Meets the criteria minimally – Poor.

3

= Meets the criteria but does not exceed it – Adequate.

4

= Meets criteria and substantially exceeds it – Good.

5

= Meets criteria and demonstrates highest excellence and superiority – Excellent.

III. Project Plan Technical Review

Project Plan  

1. Innovation

• Innovation that resolves one eco challenge

• Capacity to resolve the challenge massively and efficiently

• Product/service connection with the industry’s need.

2. Market Feasibility

• Market Study: characteristics and number of beneficiaries/clients

• Competitive Analysis and strategy to overcome competitors

• Ability to respond to an existing need with an added value product or service

• Capacity to achieve a leadership position in the market

3. Management Feasibility

• Definition of the vision, mission and business’ objectives

• Team with define roles and with expertise to execute

4. Financial Feasibility

• Analyzes its cost structure/growth and investment forecast

• Showcase the value of the business and its growth forecast for the next 12 months

• Sustainability/profitability makes sense with the business model