VSEC 2015 - Judging Criteria

Stage 1

Video Submission (60% of Stage 1)

  • Clear, concise description of idea
    • Judges will assess your idea on how well you explain it in a 2 minute YouTube video (if your video is longer than 2 minutes your score in this category will be affected).
  • Idea benefits
    • Judges will assess your idea in the video based on their perceptions of its potential benefits as a product or service
  • Comparison to existing devices/services/etc.
    • Judges will assess your idea in the video based on how well you explain why this idea, product or service is different from others in the marketplace. Additionally, they will look for evidence that you have done your research to ensure there is not already a similar, existing product or service and/or an existing patent or intellectual property.
  • Creativity of the video
    • Judges will assess your video based on the way you use the video to tell the story about your idea
  • Effective use of the medium
    • Judges will assess your video based on how effectively you use the video to communicate your message.

Executive Summary (40% of Stage 1)

  • Clear, concise description of idea
    • Judges will assess your idea based on how well you explain it, using words and/or images, in the summary (summaries must be no more than 3 pages, font size between 10 – 12pt, margins between ½ inch – 1 inch, otherwise your score will be affected)
  • Idea benefits
    • Judges will assess your idea in the summary based on their perceptions of its potential benefits as a product or service
  • Comparison to existing devices/services/etc.
    • Judges will assess your idea in the summary based on how well you explain why this idea, product or service, is different from others in the marketplace
  • Market analysis
    • Judges will assess your idea based on how well you illustrate your industry and market knowledge as well as any of your research findings and conclusions about how your product or service will perform.  Things to consider including: industry outlook, characteristics of your target market, market share potential, pricing and projected earnings and/or a competitive analysis. 
  • Plan for development of a working prototype of product or service
    • You are not required to actually have a working prototype for this competition, but judges will assess your summary based on your plan to create one should your idea move forward.
  • Plan to implement idea
    • Judges will assess your idea based on your explanation of your strategy to bring your product or service to market.
  • Composition of team
    • Judges will assess your idea based on your understanding of capabilities and resources you will need to be successful and your plan to acquire these if necessary.

Stage 2

Executive Summary + Financial Table (40% of Stage 2)
Judged by external judges and sent in

  • Clear, concise description of idea
    • Judges will assess your idea based on how well you explain it, using words and/or images, in the summary (summaries must be no more than 4 pages, font size no smaller than 10pt, margins at least ½ inch, otherwise your score will be affected)
  • Idea benefits
    • Judges will assess your idea in the summary based on their perceptions of its potential benefits as a product or service
  • Comparison to existing devices/services/etc.
    • Judges will assess your idea in the summary based on how well you explain why this idea, product or service, is different from others in the marketplace
  • Market analysis
    • Judges will assess your idea based on how well you illustrate your industry and market knowledge as well as any of your research findings and conclusions about how your product or service will perform.  Things to consider including: industry outlook, characteristics of your target market, market share potential, pricing and projected earnings and/or a competitive analysis. 
  • Realistic Financial Modeling
    • Judges will assess your financial tables based on how realistic and thorough your estimations & projections are regarding taking your idea, product or service to market
  • Plan for development of a working prototype of product or service
    • You are not required to actually have a working prototype for this competition, but judges will assess your summary based on your plan to create one should your idea move forward.
  • Plan to implement idea
    • Judges will assess your idea based on your explanation of your strategy to bring your product or service to market.
  • Composition of team
    • Judges will assess your idea based on your understanding of capabilities and resources you will need to be successful and your plan to acquire these if necessary.
  • Idea Feasibility
    • Judges will evaluate the perceived feasibility of your idea and will take questions like these into consideration when assigning a score under this metric: Would judge invest his/her own money in this venture? Does the idea appear to be technically feasible? Does it seem like a good business idea? 

Stage 2

Presentation (60% of Stage 2)
Judged by external judges on campus on April 21

  • Clear, concise description of idea
    • Judges will assess your idea based on how well you explain it in your presentation
  • Idea benefits
    • Judges will assess your idea in the presentation based on their perceptions of its potential benefits as a product or service
  • Comparison to existing devices/services/etc.
    • Judges will assess your idea in the presentation based on how well you explain why this idea, product or service is different from others in the marketplace. Additionally, they will look for evidence that you have done your research to ensure there is not already a similar, existing product or service and/or an existing patent or intellectual property
  • Market analysis
    • Judges will assess your idea based on how well you present your industry and market knowledge as well as any of your research findings and conclusions about how your product or service will perform.  Things to consider including: industry outlook, characteristics of your target market, market share potential, pricing and projected earnings and/or a competitive analysis. 
  • Realistic Financial Modeling
    • Judges will assess your financial tables in the presentation based on how realistic and thorough your estimations & projections are regarding taking your idea, product or service to market
  • Plan for development of a working prototype of product or service
    • You are not required to actually have a working prototype for this competition, but judges will assess your presentation based on your plan to create one should your idea move forward.
  • Plan to implement idea
    • Judges will assess your idea based on your explanation in the presentation of your strategy to bring your product or service to market.
  • Composition of team
    • Judges will assess your idea in the presentation based on your understanding of capabilities and resources you will need to be successful and your plan to acquire these if necessary.
  • Idea Feasibility
    • Judges will evaluate the perceived feasibility of your idea and will take questions like these into consideration when assigning a score under this metric: Would judge invest his/her own money in this venture? Does the idea appear to be technically feasible? Does it seem like a good business idea?
  • Effective Presentation Skills (including audio/video usage if applicable)
    • Judges will assess your presentation based on how effectively you communicate your message and use appropriate audio/video in the presentation

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Contact

II Luscri, Director, Center for Innovation, Creativity and Entrepreneurship

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