Criteria for Evaluating Startups
6.1. At the first qualifying stage, each participant must shoot and send a video about his idea/ project. Video evaluation criteria:
- the duration of the video should not exceed 5 minutes;
- relevance of the idea/project;
- creativity of the way to solve the problem of the project;
- market research; (familiarity with competitors, advantage over them).
6.2. During the second qualifying round, each participant must make and send a video about their idea/project. Video evaluation criteria:
- the idea/project corresponds to one of the directions (tourism, school of the future, solving social problems);
- relevance of the idea/project, its necessity and benefits;
- creativity or novelty of the idea/project solution;
- market research (introduction of competitors, advantages of own project/idea);
- MVP; (Minimum Viable Product)
- SWOT analysis of the project;
- Road Map; (answers to the questions: for whom? for how long? at what price?).
6.3. In the final round, each participant prepares a presentation about their idea / project. Criteria for evaluating the presentation:
- The idea is well thought out and viable;
- There is evidence that there is a suitable market for this idea;
- The process of realization of the idea and entering the market is clearly described;
- A detailed analysis of competitors was conducted;
- The idea can be sold in the market;
- The model of monetization is clearly presented;
- The team can commercialize the idea;
- Financial forecasts show the viability of the idea;
- The team assessed the possible risks and identified actions to eliminate them;
- The team is motivated by its ideas and believes that it will succeed.
6.4. The Business Project of the contestant is evaluated on a scale of 1 (one) to 10 (ten) for each evaluation criterion):
1- presented project does not meet the Business Project criterion;
10 - significant positive results and /or full eligibility to the criterion.
By the decision of the Contest Jury in the year of the contest, the winners of the competition in extra nominations may be determined.
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