This is the judging criteria for the MN Cup. Judges will weigh each category through the percentages assigned below.
50% – OPPORTUNITY
Convince us this is a breakthrough idea and an innovative approach. Describe your product/service, the problem it solves, your value proposition and what is unique or innovative about your approach. Who is your target customer and how large is your addressable market? (500 words)
25% – PLAN
Convince us your plan is commercially viable. Explain your business model including operating, sales and marketing plans. What activities will your company perform and what partners/vendors will you rely on, how will your product/service be priced and positioned, through what channels will you reach your customers, how will you create awareness and convert customers. Also, include a list of key team members/advisors that are helping you develop the business.
Please include summary financial projections and assumptions including projected volume, unit pricing and margins, major operating costs and capital needs. (500 words) One excel document may be uploaded with summary financial information.
25% – PROGRESS
What progress have you made? Do you have a prototype, customers, strategic partners or revenue? Tell us what milestones you’ve achieved to validate the opportunity and bring your product/service to market. (500 words)
Impact Ventures Division
Impact Ventures Division review board members are agnostic on corporate structure or tax status (i.e., applicants need not be nonprofit or tax exempt entities). Under the OPPORTUNITY section of the application, Impact ventures need to articulate the social benefits of their idea and how big the impact will be.