Evaluation Criteria

Business Plan

Business Plans will be evaluated as follows:-

• Executive summary
  Clear, exciting and effective as a stand-alone overview of the plan.
• Company overview
  Business purpose, history, genesis of concept, current status, overall strategy, and objectives.
• Products, process or service
  Description, features and benefits, pricing, current stage of development, proprietary position.
• Market and marketing strategy
  Description of market, competitive analysis, needs identification, market acceptance, unique capabilities, sales / promotion.
• Operations
  Plan for production / delivery of product or service, product costs, margins, operating complexity, resources required.
• People/management
  Backgrounds of key people, ability to execute strategy, personnel needs, organisational structure.
• Summary financials
  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
• Risk assessment
  Proposal / terms to investors which indicates how much is needed, the ROI, the structure of the deal and possible exit strategies.
• Viability
  Market opportunity, distinctive competence, management capability, financial understanding, investment potential.
• Brevity & clarity
  Is the business plan presented clearly and concisely, and is it easy to understand?

Presentation to local and final judging panels

Presentations will be evaluated as follows:-

• Formal presentation
  - 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
• Questions and answers
  - 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:-

• Market opportunity
  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.
• Distinctive competence
  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).
• Management capability
  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.
• Financial understanding
  The team has a solid understanding of the financial requirements of the business and the systems to monitor and control its financial aspects.
• Investment potential
  The business represents and demonstrates a real, attractive investment opportunity which an investor would consider.