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?
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.
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?
Most innovative $4,000
Ability to solve a problem in new ways
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 $4,000
Participation (point for every workshop)
Most Viable $4,000
Strong first year sales
Proven validation of market
Demonstrated execution ability
Validated and realistic financial model
Most Scalable $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 – Mark K Scott Infinity Funds Prize $10,000
Highest points overall of all criteria added together