Each round of the InNOLEvation® Challenge Business Model Competition is judged using the following questions:
- Did the team identify a significant problem or unmet need and create a venture to solve this problem?
- What is the size of the market and what percentage do you expect to capture?
- Has the team developed a prototype or minimum viable product? How far along are you on the product cycle?
- Does the team have significant evidence that the solution is validated (includes letters of intent, purchase contracts, sales, and partners)?
- How will the prize money help your venture?
- If your venture does not address a social/environmental problem as its primary purpose, does it positively impact society in some other manner? If so, how?
For Social Ventures:
- Is addressing the social/environmental problem the primary purpose for the creation of the enterprise? If so, why?
- Does it have an innovative, systemic approach to addressing the social/environmental problem? If so, how?
- Does the organization have a sustainable approach to achieving its mission and implementing/scaling its innovative approach to addressing the social/environment problem? If so, explain.
Most innovative Award $4,000
Creativity
Disruptiveness
Ability to solve a problem in new ways
Prototype or MVP developed
Demonstrated differentiation from competitors
Strongest social/environmental impact (Jim Moran Challenge Social Venture Award) $4,000
Primary purpose is addressing social/environmental problem
Systemic approach to addressing social/environmental problem
Sustainable approach to achieving its mission
Positively impacts society
Triple Bottom Line
Spirit of Entrepreneurship Award $4,000
Presentation
Passion
Character
Teamwork
DivvyUp Most Viable Award $4,000
Strong first year sales
Proven validation of market
Demonstrated execution ability
Validated and realistic financial model
Demonstrated differentiation from competitors
Growler Country Most Scalable Award $4,000
Strong five year sales
Actionable plan for growth
Potential for new markets
Potential for outside investment
Probability for greater global expansion
Best Overall Award $10,000
Highest points overall of all criteria added together
