Applicant selection criteria
The aim for establishing these criteria is to
identify participants whom to accept to the Smart Silver
Lab Innovation Program. The goal is to qualify 5-10 participants/projects in each participating country (Latvia, Denmark, Estonia, Finland, Lithuania, Russia).
Mandatory requirements for the Applicants:
legal organization or private person (no legal status limitations) can
person or a team has a business idea or innovative project idea, or social
idea is related to the silver economy;
idea is related to one of the RIS3 priorities (information and communication technologies, health, medical and welfare technologies, senior employment and empowerment services, living space development solutions [infrastructure, transportation services, environment, housing, refurbishment]);
- The idea should not be
violating EU rules for entrepreneurship support (according to the
COMMISSION REGULATION (EU) No 1407/2013 - https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32013R1407)
Pitch criterion – quality assessment
Live online 5-minutes pitch/presentation of
This is the most important part for the Assessment of applicants to accept them
to the Innovation Program. If the applicant qualifies through the
mandatory requirements (1) to (5), then he/she is invited to the pitch session,
which will be evaluated according to quality criteria by the Assessment Committee. The highest evaluated participants will be accepted to
by CONNECT Latvia representative (no voting rights) and including at least four members
(representing all quadruple helixe actors [academia, business, public administration and civil society] and chosen to include RIS3 priority areas).
The applicants will have to pitch their
proposal in a 5-minutes format. The Assessment Committee will discuss/interview applicants after
their pitch in order to provide evaluation as objective as possible.
Applications to be assessed applying the
and overall structure of presentation. Presentation has to be well organised
and provide reasonable enough information to make judgement about
applicant’s project. Weight of the criterion – 30%
of the team and entrepreneurial edge. Motivation, commitment and resilience.
Willingness to listen, i.e. to be able to mentor/coach. Mix of people and
competencies (both technical and business skills). Weight of the criterion – 20%
of product or technology. There has to be some 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. Have you thought about the options
to protect your intellectual property rights? Weight of the criterion – 25%
problem to be solved or opportunity created. Is there a market,
prospective size and geography. Value proposition and competitive
advantage. Weight of the criterion – 25%
of the criteria is assessed on a 10-grade scale, from 1 (lowest) to 10
(highest). The total score of the application is the weighted sum of values of
all 4 criteria.