General Criteria
Each team will submit an executive summary and a rocket pitch by the deadline. Based on the idea of lean start-up, the executive summary and rocket pitch should include, but are not be limited to, the following:
- What is the “pain” point? Identify the need for the product, technology or service, and why you think your idea solves that need.
- What is the value? How does your idea really benefit society or the economy, where is the real “added value”? How does your idea differ from others that are out there?
- What is the “Path to Market”? Identify the steps to actually implement your idea.
- What does it cost? Give a timeline and resources needed to make it happen.
- What do others think of your idea? Have you gotten feedback about your ideas, and did you have to alter your thinking or “pivot”?
Executive Summary Criteria
- The executive summary should give a clear description of what your business or "non-profit" is while answering the questions listed above
- The summary should be 3-5 pages and formatted using Times New Roman, 12-point font, double spaced, with 1" margins
Rocket Pitch Criteria
- The Rocket Pitch is a fast moving, concise, clear method of describing a new business idea in 5 minutes or less (video)
- Teams may decide on who participates in the rocket pitch presentation but at least one person must be visible in the video
- Participants may utilize presentation software (PowerPoint or Prezi) and/or visual aids (prototypes, poster boards, etc.)
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