The award winners are selected by an independent jury in a two-stage selection process.
1st selection stage (business plan)
All business plans submitted in writing will be assessed by the jury. The evaluation is based on the following equally weighted evaluation criteria.
Innovation
What is the background to the development of your business concept? What innovative products, processes or services is your business concept based on? What is the development status of your concept?
Acceptance (customers)
What is your target group and what benefits do your products or services offer this target group? What makes your concept unique from the customer's point of view? How do you assess the target group's willingness to buy and purchasing power? What opportunities and risks are there in the potential market and during implementation?
Competitive situation
What is the situation of your competitors (number, size, strengths and weaknesses compared to your planned company)? How have your competitors' customer or sales figures developed recently? What is the trend forecast for the competitive situation? Are there any industrial property rights?
Financial feasibility
What financial requirements do you have and from which sources should these be covered? What are your sales, turnover and profit expectations (profit and loss account) as well as investment and liquidity planning for the first 3 years?
Technical feasibility
Do processes exist for manufacturing your product or service? Can the performance characteristics you envisage actually be achieved? Which location are you planning to use and what characteristics (location, size, machinery and equipment, proximity to suppliers, costs, etc.) characterise it? What personnel requirements do you have (both quantitatively and in terms of qualifications)?
Market potential
What is the market volume, the market size? What is the trend forecast for the development of the market? What marketing concept are you planning (with particular consideration of product and pricing, distribution and communication)? Which sales channels do you want to use and what personnel and material capacities do you need for this?
2nd selection stage (pitch)
At the end of phase 1, the ten best submissions are selected for the 2nd selection stage. These start-ups then present themselves in person to a panel of experts in the final round. The participants will be informed by e-mail after the judges' evaluation deadline whether they have made it to the oral part or not. The result of the first selection stage accounts for 50 per cent of the overall assessment.
The selected teams are given the opportunity to present their ideas to a panel of experts in 8 minutes and then answer the jury's questions in a subsequent discussion. The result of the pitch is included in the overall evaluation with 50 per cent according to the following criteria.
Pitch deck
Does your pitch deck fulfil all content requirements and is its design and functionality convincing? Have all the important questions been answered (problem, solution, market, business model, team, financing)? Does the pitch deck generate attention and tell a story?
Founder qualification
What is your motivation for founding a company? What start-up-related qualifications characterise you (and possibly your co-founders)? Do you have the necessary entrepreneurial skills as a founder? Do you have the support of mentors and partners from business and academia?
Start-Up Pitch
Is your presentation convincing in terms of content and quality (storytelling, to the point facts, good structure, coherent argumentation)? Are you well informed and do you answer the jury's questions convincingly? Is your self-presentation convincing and do you convey motivation and commitment? Can you convince your audience (customers, investors, etc.)?
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