Pitching Criteria
BIC Launchpad’s – Pitching Criteria for Startup Selection
1. Innovation and Creativity (20%)
- Originality of Idea: Is the startup offering something unique or significantly improved from existing solutions?
- Problem Solved: How well does the product/service address a real and pressing problem?
- Creativity: How creative and out-of-the-box is the approach taken by the startup?
2. Market Potential (20%)
- Target Market: Is the target market well-defined and large enough to support growth?
- Market Research: How thorough is the market research and understanding of market needs?
- Scalability: Can the business model scale effectively to reach a larger audience?
3. Business Model and Financials (20%)
- Revenue Model: Is the revenue model clear, realistic, and sustainable?
- Financial Projections: Are the financial projections and assumptions realistic and well-founded?
- Profitability: How soon can the startup achieve profitability, and what are the profit margins?
4. Team and Execution (20%)
- Founders and Team: Does the team have the right mix of skills and experience to execute the plan?
- Execution Plan: How detailed and feasible is the execution plan, including milestones and timelines?
- Adaptability: Is the team adaptable and capable of overcoming potential challenges?
5. Social Impact and Sustainability (10%)
- Social Impact: Does the startup have a positive social impact or contribute to solving societal issues?
- Sustainability: How sustainable is the startup’s approach, both environmentally and operationally?
6. Presentation and Communication (10%)
- Clarity of Pitch: How clear and well-structured is the pitch?
- Engagement: How engaging and persuasive is the presentation?
- Q&A Handling: How well does the team handle questions and provide insightful answers?
Scoring Method
Each criterion will be scored on a scale of 1 to 10, with 10 being the highest. The scores will then be weighted according to the percentage assigned to each criterion. The total score will determine the ranking of each startup.
Example Scoring Sheet
| Criteria | Weight (%) | Score (1-10) | Weighted Score |
|---|---|---|---|
| Innovation and Creativity | 20% | ||
| Market Potential | 20% | ||
| Business Model and Financials | 20% | ||
| Team and Execution | 20% | ||
| Social Impact and Sustainability | 10% | ||
| Presentation and Communication | 10% | ||
| Total | 100% |
Each judge will fill out the scoring sheet for each startup, and the scores will be averaged to determine the final ranking.
Additional Notes
- Feedback: Judges should provide constructive feedback for each criterion to help startups understand their strengths and areas for improvement.
- Diversity and Inclusion: Encourage startups that promote diversity and inclusion within their teams and target markets.
- Follow-up: Consider a follow-up round for the top startups to dive deeper into any areas of concern or to see progress made since the initial pitch.