Judges will evaluate Competition Materials based on scoring elements (“Scoring Elements”) that identify critical components of a successful business model. Each Scoring Element has individual criteria (“Scoring Criteria”). Judges will assign points to each Scoring Criteria according to the following 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. |
Semi-Finals Evaluation Criteria
Judges will evaluate Competition Materials during the Semi-Finals according to the following Scoring Elements and Scoring Criteria.
Scoring Element | Scoring Criteria | Weight |
A) Business Plan | 75% |
Innovation and Category Relevance | - The business plan presents a creative, realistic, measurable solution or novelty in which it centers its concept proposal.
- The business plan clearly presents how the solution (or adaptation of an existing solution) is different and improves current results or conditions.
- The business plan addresses the overarching challenge of InnovAction: recovery from COVID-19.
- The business plan demonstrates a response or direct connection to one of the four categories of InnovAction.
| 20% |
Market feasibility | - Presents a clear preliminary analysis of the community or market where the business plan will operate.
- The market study addresses specific needs, a market opportunity or demand.
- The business plan clearly indicates how its benefits/features will be delivered and/or expanded according to demand / opportunity / needs.
- Demonstrates operational, technical, economic feasibility of implementation.
| 20% |
Management Feasibility | - Provides appropriate organizational structure: mision, vision, objectives, team or organizational chart with clear roles and diversity among Team Members, Mentors, and volunteers.
- Demonstrates organizational capabilities or assets: physical spaces or equipment from where to operate, products or services, patents (if applicable), prototype (if applicable).
- Demonstrates an opportunity for engagement via on-line tools: website, app, virtual community, blog or group, virtual marketing channel, social media accounts, newsletters, among others.
| 15% |
Financial Feasibility | - Clearly states how much capital/investment is needed to launch / operate annually and the sources of capital.
- Presents a solid, clear operational budget.
- Demonstrates efficiency in its financial structure and forecast.
- Demonstrates a social investment opportunity to support the development of the solution, project, business proposal or idea.
| 20% |
B) Community Engagement | 15% |
| - Demonstrates a clear strategy to work with community organizations and social groups in the development of the business or initiative.
- Incorporates plans and a vision for improving the lives of community members where the initiative will be implemented, or the business will operate.
- Community members are engaged in and contributed to the development of the business concept and the sustainability strategy.
| |
C) Marginalized Populations Representation | 10% |
| - Team Members are representatives of Afro-descendant, Indigenous, LGBTI, people with disabilities, migrants/refugees, and/or other marginalized communities.
- The business plan involves and actively engages with Afro-descendant, Indigenous, LGBTI, people with disabilities, migrants/refugees, and/or other marginalized communities as a targeted population.
| |
Total | | 100% |
Finals Evaluation Criteria
Judges will evaluate Teams and Competition Materials during the Finals according to the following Scoring Elements and Scoring Criteria.
Scoring Element | Scoring Criteria | Weight |
A) Business Viability | 60% |
Business Plan | - How well does the idea respond/address the overall challenge and the specific category?
- How well does the overall business plan present the idea and its elements?
- How feasible is the business solution, initiative, or idea in real market conditions?
- How clear is the operational, technological, support network and economic feasibility of the business?
- How does the business solution, initiative, or idea improve or transform the lives of the community where it will operate and how do they present evidence of this?
| 25% |
Presentation | - How effectively and compellingly does the team present the business plan?
- How well does the presentation demonstrate personal teamwork and cooperation?
- How clear is the verbal presentation of the business plan and activities?
- How attractive is the visual presentation when displaying graphic elements to expose the business idea and activities?
| 20% |
Visual Portfolio | - How effective does the image or visual portfolio (video, photo gallery, blog, website, etc) present the product or service’s features/characteristics?
- How well does the promotional material present an image of quality for the business and summarize the business idea?
- How well does the image or visual portfolio demonstrate innovative design / functionality?
| 15% |
B) Financial and Investment Strategy | 20% |
| - Clearly states capital investment and the sources of capital.
- Explains well a Social Return of Investment opportunity.
- Demonstrates an opportunity for the industry/ international community to support the development of the solution, initiative, or idea at a local level.
- Demonstrates efficiency in its financial structure and forecast.
| |
C) Transformation and scale | 20% |
| - Demonstrates involvement with grassroots communities, organizations and/or marginalized groups.
- Clear scalability strategy with the potential to impact other communities or regions.
- Clearly presents potential to achieve transformative changes in the category.
- Increased or improved community engagement relative to Semi-Finals Round Evaluation.
| |
Total | | 100% |
