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Judging

You must put forward an idea for a viable business start-up and demonstrate that you have a credible implementation plan.

First round judging

The first round judges for each of the five categories will choose up to four finalists per category. The first round judging panels will comprise of internal staff at the University. 

Final round judging

Shortlisted finalists will pitch to a panel of judges during the week commencing 8th April 2024, followed by a Q&A session. If finalists cannot attend the pitch day in-person, they can pitch online. The whole team must be part of the pitch.

The panel will comprise of senior staff from the University as well as external individuals. All external judges will be asked to sign NDAs (non-disclosure agreements).

 

Judging Criteria

Opportunity / Problem

  • A clear opportunity; its scope, scale and what’s driving it
  • A real existing problem or need validated with market research
  • A good understanding of key stakeholders and the impact / cost of problem to them

Solution / Value Proposition

  • A clear value proposition and identification of unique selling points, focussing on benefits of the product / service demonstrating the competitive advantage
  • A good understanding of competing solutions and benchmarked against them
  • A strong mission / vision for the business

Market Knowledge / Go to market strategy

  • A clear understanding of first customers and why they would buy the product, alongside solid plan to secure first customers
  • Specific, actionable milestones which are realistic and achievable for the next 12-18 months
  • Understanding of resource requirements and consideration / management of risks to the business

Business Model / Financials

  • A clear explanation of revenue generation, details of the pricing strategy and expected breakeven point
  • A good understanding of the supply chain, key partners and resource requirements to build the business
  • Awareness of key financial requirements / costs to start up and run the business for the next 12-18 months

Additional information

  • Credible evidence that they can build / deliver this solution with an outline of current or ideal team
  • Detail of how £15,000 will be spent if successful
  • Demonstration that the award will have significant impact in helping start up or scale the business