Judging
Teams will be judged on the following criteria:
Creativity and Innovation
How creative and innovative is the idea?
This is the assessment of the “wow” factor. It is a measure of how the team stretched their thinking and conceived an original idea which at least on a feasibility test would be something the world needs but had not thought of yet.
Finance and Production
Have costs been adequately considered, calculated and explained?
Show superior awareness of the realities of commercial success. Whether it be in profit potential, cost containment or method of financing good work, the team will need to show they understand the sources of funds and the requirement for any venture to be self-sustaining if at all possible. It must have a value and the team must be capable of convincing various supporters and finance sources to join their dream based on the good business sense displayed. There should also be evidence of the team’s awareness of the manufacturing or preparation process to go to market, raw materials to be used and healthy respect for the environment.
Marketing and Market Research
How effective is the marketing strategy? How will it be marketed to the target audience?
Teams will need to show they have researched the potential market and segment to determine there is every likelihood the service or product will be taken up in appropriate numbers. Not only is the upfront research needed but they have to be able to demonstrate how they will promote the offering to the market. There will need to be details of how the market will be reached once identified. Be specific about pricing and packaging.
Communication
How well is the idea presented?
Was the presentation delivered effectively within the 3 minute timescale?
Teams have a chance here to impress the judges with the clarity with which they deliver their proposal to the backers. Is your delivery easy to understand and interesting?
The weighting of each category is 25%.
Submission of entries
Each team must submit via the dropbox:
A4 written report
- maximum of 2 pages
- using a font no smaller than 10pt
- Word format is the only accepted format.
- Entries submitted in any other format will be disqualified.
3 minute video presentation
- recorded as a Windows Media Player file to be set at a resolution of 320*240 and with a bandwidth of 300kps.
- You must use Windows Media V7 codecs.
- No copyrighted music can be used, music must be owned by the student, school or be non copyrighted. Submissions received with copyright music will be disqualified from the challenge.
- Ensure the video is clear, has good lighting, easily understood and has good sound.
Microsoft PowerPoint Presentation (97-07) Optional
- Maximum file size is 4mb
- Maximum of 4 slides
If a power point presentation has been prepared it may be submitted to assist the judges in their understanding of the submission but it will not be awarded any score as it is optional
