Judging Criteria
MN Cup applications will be judged based on the criteria listed below. The word count listed is consistent with the application requirements, and the Judges will weigh each category through the percentages assigned below.
50% – Opportunity
Discuss your product and competitive advantage. What problem are you solving? What is your solution? What makes your product innovative? How large is your target market and what is the potential impact? (500 words)
25% – Plan
Explain your business model including operating, sales and marketing plans. What activities will you perform and who are your key partners/vendors? How will you make money (sources of revenue, unit economics for profit margins, etc.)? How will you reach your customers (channels) and raise awareness of your product? Include a list of key team members/advisors. (500 words)
One optional excel document may be uploaded with summary financial information. Recommend summary 3-5 year financial projections and assumptions including projected volume, unit pricing and margins, major expense categories and capital requirements.
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 a 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.