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Jim Moran School of Entrepreneurship

The Nation’s First Stand-Alone Entrepreneurship School at a Public University

Judging Criteria


Each round of the InNOLEvation® Challenge Business Model Competition is judged using the following questions:

  1. Did the team identify a significant problem (in terms of money or impact) and create a venture to solve this problem?
  2. Did the team use the Business Model Canvas or similar tool to identify and track assumptions?
  3. Did the team clearly state their assumptions / hypotheses?
  4. Did the team identify the most crucial assumptions to test first (the ones that will kill their business)?
  5. Did the team design low cost, rapid, but reliable tests of these hypotheses?
  6. Did the team conduct the tests in a reliable manner?
    • Number of tests – should be adjusted for industry, product type (web vs physical product), and business type (B2B vs B2C)
    • Quality of tests – interviews are high quality, surveys & focus groups are much lower quality (you don’t know which questions to ask) unless interviews have been conducted first
  7. Did the team clearly state what they learned and how that learning informed a pivot?
  8. Has the team developed a prototype or minimum viable product (we want to reward prototypes over full products unless the product is the result of many prototypes tested with customers – in other words, we want to reward working from prototypes up to products, we do not want to reward just building products from the start)?
  9. Does the team have significant evidence that the solution is validated (includes letters of intent, purchase contracts, sales, and partners)?*

*this criteria serves as tie breaker

For social ventures:

  1. Is addressing the social/environmental problem the primary purpose for the creation of the enterprise? If so, why?
  2. Does it have an innovative, systematic approach to addressing the social/environmental problem? If so, how?
  3. 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.
Sponsors

Office Location: RBB 243 | Phone: 850-644-7893 | Dept. Hours: 7:30 a.m. - 4:30 p.m.
Mailing Address: Jim Moran School of Entrepreneurship, 821 Academic Way, RBB 243,
P.O. Box 3061110, Tallahassee, FL 32306-1110

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