This is the judging criteria for the MN Cup. 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? (500 words)
25% – PLAN
Explain your business model including operating, sales and marketing plans. How will your company be structured? How will you make money (pricing, profit margins, licensing, etc.)? Who are your partners/vendors? How will you reach your customers/raise awareness of your product? Include a list of key team members/advisors.
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.