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%
For
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.