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Judging Criteria
All competing business plans will be evaluated according to the following judging criteria and attributes:
Judging Criteria |
Weighting |
Attributes |
Weighting |
Description of Attributes |
Commercial Potential |
30% |
Market Size and Value |
50% |
Business plan demonstrates good potential for the product/service to gain market share in a market with optimum size and value. |
Competitive Advantage & Differentiation |
50% |
Business plan demonstrates a good targeting strategy where uniqueness of product/service can differentiate clearly from the competition and achieve advantage in market positioning. |
||
Uniqueness |
25% |
Application of Technologies |
40% |
Good use of appropriate technologies to develop a product or to enable a service, with features and functionalities that make it unique in the market. |
Local Innovation |
60% |
Product/service is new to the local market. |
||
Implementation Ability |
25% |
Domain Knowledge |
40% |
Team members demonstrate good knowledge of the involved domain area. |
Technical skills |
30% |
Team members demonstrate good technical skills to implement the business according to the plan. |
||
Proof of Concept |
30% |
Team members demonstrate a preliminary model of their product/service or statistical/research data which can support and prove their implementation ability of the business. |
||
Business Strategy |
10% |
Marketing strategy |
50% |
Business plan demonstrates a feasible and effective marketing strategy. |
Financial strategy |
50% |
Business plan demonstrates solid financial planning and confidence in the return of investment. |
||
Presentation |
10% |
Organization of Presentation |
50% |
Presentation from the team transmits clearly, effectively and informatively the essence of business plan to Judge Panel. |
Enquiries |
50% |
Team members demonstrate confidence and clearness in responses to Judge Panel enquiries. |
Teams are encouraged to demonstrate their Proof-of-Concept during the Presentation to Judge Panel, which means manipulation with real systems and applications, demonstration with prototypes, etc. The objective is to show to judges their knowledge and ability to produce the said products and solutions.