Procedures
Eight to ten Finalists will be selected from among the online submissions. Finalists will be notified via email by Tuesday, April 21. At the finals, teams will deliver a 3-minute PowerPoint presentation to a panel of judges, followed by 3-5 minutes of Q&A.
In the application you will be asked to identify your category (personal or venture
business). We will award prizes in both categories.
Venture Enterprises are scalable, capital intensive, with a large market.
Personal Businesses have limited markets and typcally do not need venture capital to reach full potential.
JUDGING CRITERIA
1. PROBLEM: Problem is real; there is strong customer pain or desire
2. SOLUTION: How well it solves the problem
3. COMPETITIVE ADVANTAGE. Solution is in some way better than competition and
alternatives, or addresses an underserved market niche
4. TARGET MARKET Demographics. The people who need solution are clearly defined
5. SIZE OF TARGET MARKET. Adequate size to support business
6. BARRIERS TO ENTRY. Strategy to prevent copying idea
7. MANAGEMENT: Knowledgeable about industry; Presented convincing arguments
8. PRODUCTION. Production plans well thought out
9. FINANCE: It's clear how the company will make money
10. FUNDING: Company aware of resources needed to launch or grow (e.g. - capital,
talent, mentoring, customers)
SPONSORS
Community Economic Development Fund
