The Pacific Asian Center for Entrepreneurship

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Judging Criteria

OVERALL APPEAL OF THE PLAN

  • Does the applicant express a compelling "vision" for the new venture?
  • Does the applicant show enthusiasm and commitment for the new venture?
  • Does the plan come together as something greater than the sum of its parts?

ATTRACTIVENESS OF THE MARKET OPPORTUNITY

  • How large is the market and how fast is it growing?
  • Can the applicant be a "significant player" in this market?
  • What long-run rate of profitability does the applicant expect to see in this market?

VALUE CREATED BY THE NEW PRODUCT OR SERVICE

  • What is the new and unique value of the proposed product/service?
  • Is there a clear customer need being satisfied?
  • How important is this product/service to the customer?
  • Has the applicant developed a prototype or working description of the product/service?
  • Has the applicant gone out to the market to test receptiveness of potential customers?

COMPETITIVE ADVANTAGE OF THE PROPOSED VENTURE

  • How will the proposed product/service be positioned in relationship to competitors?
  • Can this product/service achieve a leadership position in its market?
  • From the current stage of development, how long will it take the applicant to get to market?
  • Will the proposed venture be favorably positioned in the distribution channel?

OPERATIONAL AND TECHNOLOGICAL VIABILITY

  • How will the proposed venture produce and distribute the product/service?
  • How will operational obstacles (if any) be overcome?
  • What technology and/or other intellectual property (if any) is essential to the success of this venture?
  • How will rights to the property be secured? (if applicable)
  • How much will the property cost to develop and/or secure?
  • How long will it take to develop the property?

CAPABILITY OF THE MANAGEMENT TEAM

  • Have team members demonstrated leadership and initiative in other aspects of their life?
  • What specific management capability is required for the venture?
  • What relevant skills do the team members possess?
  • What roles will the current team members play?
  • How will gaps in the management team be filled?

CAPITAL REQUIREMENTS AND FINANCIAL FORECASTING

  • What type and amount of capital investment is required?
  • Is the investment required all at once or can it be "staged-in" over time?
  • Where will the investment capital come from?
  • What is the proposed ownership structure of the venture?
  • What is the investment exit-strategy?
  • How long will it take the venture to be financially self-supporting? (cash-flow positive)
  • How will the venture be financed until then?
  • What is the expected return on investment?
  • When is the investment expected to become liquid?