Assessment Criteria
The SUSSED! competition will be run in two stages. Teams will be asked to develop and submit a business plan. These business plans will then be reviewed by a Judging Panel from which a short-list will be selected to go forward to the “Dragons’ Den” stage of the competition.
In the “Dragons’ Den” stage, presentations will be made to the Judging Panel. This Panel will then select the top three prize winners, with the overall winner being sent forward for entry to the UNICA Entrepreneurship Competition for Students and Young Researchers.
The short-listing of business plans for the “Dragons’ Den” stage of the competition will be carried out on the basis of the criteria outlined below. If they wish participants may use the NovaUCD business plan template provided as a guide to developing their plan.
The final selection of the three winners of the competition will be made by the Judging Panel on the basis of the submitted business plans and the presentation made during the “Dragons’ Den” stage of the competition.
All teams registering for the competition and submitting a business plan, agree to be bound by the rules of the competition.
The following are the criteria and associated marking strategy that will be used to assess the business plans submitted to the SUSSED! competition:
Area 1: Overall Business Plan
- Is the overall business plan clear and well written?
- Is the business opportunity as presented both highly attractive and clearly realistic?
Area 2: Executive Summary
- Does the executive summary articulate in a concise way the business opportunity and why it exists?
- Does the executive summary detail who will execute the opportunity and why they are capable of doing so?
- Does the executive summary include information on how the company will gain market entry and penetrate the market?
- Would the executive summary compel an investor to read the remainder of the business plan?
Area 3: Management Team/ Advisors
- How strong is the management team in relation to relevant skills/track record required to perform assigned roles?
- If management team needs to be developed is there an understanding of the skills required and when recruitment for individuals will take place?
- Are the team members committed to the proposed venture?
Area 4: Company and its Product/Service
- Is the concept of the business described in general terms i.e. What business the company is in or intends to enter?
- What product/service it will offer? What benefits exist for customers?
Area 5: Market Research and Analysis
- Does business plan demonstrate that the company can capture a substantial market share in a growth industry?
- Is the competitive landscape discussed with information on the unique selling points of the product/service in relation to competing technologies/ competitors?
- Are potential customers for product/service discussed and customers classified into groups (if applicable)? Who will be the first customer (s)?
- Is the business defensible from competitions?
Area 6: Marketing/ Sales Plan and Pricing
- Does plan explain the marketing strategy given the value chain/ channels of distribution in the market segments?
- What is the business model?
- Is a pricing strategy discussed and justified in relation to competitors’ policies?
- Are the methods that will be used to sell and distribute the product/service discussed?
- Are approaches to promote product or service in the market place detailed?
Area 7: Research and Development
- Is the nature and extent of any necessary R&D work before a product/service can be marketed discussed?
- How long will it take from the current stage of development to bring this to market?
- Are plans for future product development plans discussed (if applicable)?
- Is the IPR owned or required for the business identified, together with details of the appropriate access rights required/secured, and any protections (e.g. patents, trade marks) being sought ?
Area 8: Financial Plan and Funding Requirements
- Are the main assumptions associated with the financial projections set out?
- Are projected Profit and Loss Accounts, Balance Sheets and Cash Flow included?
- Does indicate the company’s realistic potential based on the market research?
- Is the amount of money that is required by the company indicated and how this funding is to be provided?
- Is the amount of further investment sought and a brief overview of what this funding is required for included?
| Area | Mark (%) |
|---|---|
| 1. Overall Plan | 10 |
| 2. Executive Summary | 15 |
| 3. Management Team/ Advisors | 10 |
| 4. Company and its Product/Service | 10 |
| 5. Market Research and Analysis | 15 |
| 6. Marketing/Sales Plan and Pricing | 10 |
| 7. Research and Development | 10 |
| 8. Financial Plan and Funding Requirements | 20 |
