Innovation project evaluation criteria
The aim for establishing these criteria is to define among participants the most ripen innovative silver economy projects with greatest potential impact on silver economy regionally or globally and which could be promoted for participation in the Accelerator Program (5 teams) and International Event (2 teams).
Projects have to be assessed along following criteria:
- Overall structure of presentation. Presentation has to be well organised and provide reasonable enough information to make judgement about project. Presentation has to contain at least: product/idea description; information about market segment the product is targeting to, with assessment of market share product is aiming to, and how that could be reached; financial assessment of project; description of planned business model and project team. Weight of criterion – 20%
- Innovativeness of product. There has to be innovation. For this purpose innovation is defined as new product or idea, or change/adaptation of existing product for use in a new way or in a new market. Weight of criterion – 30%
- Potential in silver economy market. Does product satisfies particular silver economy need/needs and on what scale? This doesn’t prevent product to be widely used in other markets, however, degree of relevance to specific silver economy segments and needs is one to be assessed. As larger part of segment could be impacted or more thoroughly more crucial needs satisfied – higher valuation should be applied. Weight of criterion – 30%
- Maturity of the product. The target is to pick the projects most ripened to switch from incubation phase to acceleration phase. Readiness of project for this switch has to be evaluated. Weight of criterion – 20%
each criteria value has to be assigned from 1 (lowest) to 10 (highest) which
accordingly has to be adjusted by respective weight factor. Score of project is
sum of values of all 5 criteria. One who gets highest score is a winner.