Judging Criteria
Judges for the Launch Out Loud Business Concept Contest will score three-page Business Concept Entries based on:
Defining the Business Opportunity
Entries may not exceed three single-spaced pages or 1,500 words, including all appendices you choose to submit. Do not use a typeface smaller than 10 pt. or margins smaller than one inch. No financial statements are required. It is the entrant's responsibility to honor the spirit of this length limit. Those who exceed the spirit of this length limit will be disqualified.
The Judging Process
Each business concept paper will be evaluated and scored by at least three judges. Each judge will provide feedback to to each submission. This will allow entrants to receive significant feedback at the business concept stage that, will substantially increase the quality of semi-finalists entries. Judges will be drawn from the entrepreneurial community in the south eastern region, and will include entrepreneurs, investors, and academic instructors-- all skilled in analyzing business opportunities and evaluating business plans.
Online application will open July 9, 2018. Entries must be received by 5pm on October 7, 2018. No late submissions will be accepted.Questions? Contact launchloud@esyntialelements.com
* Applicants that win LOL prizes are required to submit a report 6 and 12 months after the Launch Out Loud celebration and agree to dedicate a minimum of 20 service hours to the city of houston within 12 months of winning the Launch Out Loud event.
- The research and analysis evident from the concept description.
- The quality of your business analysis of the strategic elements of your business concept described in Critical Analysis Ingredients below.
- The effectiveness of the communication of the business opportunity.
- The extent to which your business concept, as presented, is both attractive and realistic.
Defining the Business Opportunity
- What is the business opportunity or market need your concept addresses?
- What is your product/service and how does it meet this need?
- Is the product or service technologically feasible? (Do not submit business concepts based on technology that is not fully developed.)
- Who is your target market? What is the size and what are the characteristics of this market?
- What is the industry in which your business will compete?
- Who are the existing players in the industry, and who might be potential players?
- What is your competitive advantage in this industry?
- How will you bring this idea to market?
- How will the business make money? Identify your revenue model (i.e. licensing fees, direct sales to customer, advertising, etc.)
- Note: It is not necessary to focus on financials in the concept competition; however, there must be enough information for the reader to ascertain the financial viability of the idea, and whether the revenue model is rational.
- What are the critical issues to resolve as you move forward in your business planning process?
- Financial projections – again, include enough information to convey the financial viability and a rational revenue model.
- Management bios
Entries may not exceed three single-spaced pages or 1,500 words, including all appendices you choose to submit. Do not use a typeface smaller than 10 pt. or margins smaller than one inch. No financial statements are required. It is the entrant's responsibility to honor the spirit of this length limit. Those who exceed the spirit of this length limit will be disqualified.
The Judging Process
Each business concept paper will be evaluated and scored by at least three judges. Each judge will provide feedback to to each submission. This will allow entrants to receive significant feedback at the business concept stage that, will substantially increase the quality of semi-finalists entries. Judges will be drawn from the entrepreneurial community in the south eastern region, and will include entrepreneurs, investors, and academic instructors-- all skilled in analyzing business opportunities and evaluating business plans.
Online application will open July 9, 2018. Entries must be received by 5pm on October 7, 2018. No late submissions will be accepted.Questions? Contact launchloud@esyntialelements.com
* Applicants that win LOL prizes are required to submit a report 6 and 12 months after the Launch Out Loud celebration and agree to dedicate a minimum of 20 service hours to the city of houston within 12 months of winning the Launch Out Loud event.
