What’s the basis of scoring? What are the judging criteria?

We’ve heard your worries and decided to satisfy your curiosity! So here’s a look at the eight judging criteria that will be used across all country qualifiers as well to help you better understand what you should consider.

1. Target market

Have you clearly defined your target market? Is the market currently large or has future potential, scalable or high growth? High potential in a niche market?

The criteria are mainly based on you understanding your target market and the implications and potentials of being part of said market.

2. Problem or need

Is there an actual problem you are trying to solve? Is your product/service a real necessity to the world? Or, could your product or service simply be just a fad or short term need?

This is the question any business should have figured out in the early days before pursuing the end goal. If you’re not solving a real problem, would there even be a need?

Long term sustainable businesses pride themselves on the fact that they are solving real world problems. Not just jumping on the bandwagon.

3. Solution

How creative is your solution? What’s the unique selling point of your product/service that defines you from other competitors?

Also Read: The millennial force: changing the workplace and its culture

Is it better? Faster? Cheaper? More efficient or convenient? Does it have a distinguishably unique value proposition?

4. Team, board and advisors

How’s the team dynamics? Are you all well versed in Industry knowledge? Do each of you possess something that compliments the others? Or are you all jack of all trades and masters of some?

How long has the team worked together? What’s the leadership approach and key relationships? What about prior successes/failures? Does your company and the people surrounding it contribute to the X factor?

5. Traction

How far your company has come so far? This encompasses your product development, sales, strategic partner relationships, marketing, and intellectual property.

What are the number of active users? Each company measures traction differently, based on the challenges that your company has faced and will face in the future.

6. Revenue model

The business model, creativity, feasibility and scalability of the revenue model.

Also Read: 500 Startups invests in Thai food deeptech startup JuiceInnov8

In essence, how do you make money and how do you plan to grow your company into a more sustainable revenue maker.

7. Exit opportunity

Are there any potential buyers at the moment? Any potential plans for IPO/ICO/ISO/STO?

8. The pitch

Clarity of presentation, the creativity of presentation, and your ability to answer questions effectively.

We hope that shedding some light on this provides you with better a better understanding of what the pitching is all about and wish you all the best of luck to those pitching soon!

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