Executive Summary Challenge

 

Purpose of the Executive Summary Challenge

To allow participants an opportunity to present their idea, in a one-page executive summary format, to people who would potentially be funding the idea.

Overview and Structure of Competition

The Executive Summary Challenge will allow participants to receive feedback and possibly recognition and rewards for their new idea without having to write a comprehensive business plan. The goal of this competition is to serve as a launching pad for ideas that could have business potential.

Each idea submitted, should be no more than one written page in length and should answer several key questions, but participants are encouraged to include additional information specifically relevant to their product, process, or service:
 

• What makes your idea novel or unique?

• What is your idea and its general purpose?

• Who are your customers and why will they want this?

• Why is your idea going to be successful?

• Who else is doing it?

• Why should an investor be interested?

• What specific substance do you have to support your case?

• What have you done to turn this idea into an actual product?

Participants will be rated by an interdisciplinary panel of industry professionals.

 

Criteria for Judging:

Presentation Quality (20%)

	Not at all									Extremely
How well does the summary clearly communicate the essence of the idea? Did it make you want to learn more?	1	2	3	4	5	6	7	8	9	10
How professional and polished is the written document? Is it grammatically correct with no typos?	1	2	3	4	5	6	7	8	9	10

Communication of the Idea and Its Value (20%)

	Not at all clear									Extremely Clear
Does the summary clearly explain their idea? The explanation should be clearly communicated and memorable.	1	2	3	4	5	6	7	8	9	10
Have they clearly explained the value/benefit of their idea and why an investor should be interested?	1	2	3	4	5	6	7	8	9	10

Knowledge of the Target Market (20%)

	Not at all clear									Extremely Clear
Have they clearly identified the customers and market need for this idea/concept	1	2	3	4	5	6	7	8	9	10
Have they used specific examples, data, and research to demonstrate the customer/market need?	1	2	3	4	5	6	7	8	9	10

Competitive Edge/Uniqueness of the Idea (20%)

	Not at all									Absolutely
Does the team know who the competition is, its strengths and weaknesses and how this idea provides an innovative solution that differentiates them from competitors’ offerings?	1	2	3	4	5	6	7	8	9	10
Does the idea have a defensible barrier to entry by copycats?	1	2	3	4	5	6	7	8	9	10

Feasibility and Practicality (20%)

	Not at all									Absolutely
Have they used specifics to support the feasibility of their idea? Have they identified what is needed to succeed (e.g., skills, money, time)?	1	2	3	4	5	6	7	8	9	10
How feasible/realistic is it for this idea to become an actual product/service?	1	2	3	4	5	6	7	8	9	10

 

Total Points: