1. Importance of Problem (Weightage: 30%)
Ideas should serve as an important milestone in providing solutions to problems that matter the most. So, the following aspects among others will be looked upon:
- How important is the problem that the application is trying to solve?
- How important is it to provide technology solutions to solve the stated problem? If it is important, how much impact (Qualitative and Quantitative) does the solution have on solving the problem?
- Is the solution feasible enough to make any changes in the current scenario or future?
- Does it solve a portion of the problem or is it capable of solving it completely?
- Is the idea innovative and unique? Ideas should not be an exact copy of an existing solution elsewhere. Even if the idea is based on similar existing concepts, they must depict the characteristics of innovation and uniqueness by adapting them to the local context or local need.
2. Product (Weightage: 20%)
Ideas have zero value unless they are worked on and implemented. Individuals/ Teams that have promising ideas should also possess equally promising products to go along. So, the following points are vital to evaluate the product of the individual/ team
- Is the solution qualified enough to justify the idea, description, and other artifacts that the individual/ team has presented?
- Do the technology features and functionalities justify the problem(s) the participant/s intends to solve?
- Are the features of the solution innovative and useful?
- Does the technology solution look intuitive and user-friendly?
- Does the proposed or used technology exist in our local context or is easy to acquire? For e.g., it is difficult to get Google Glass as it is expensive and might not fit in the context of Nepal.
3. Business Model (Weightage: 20%)
Ideas should have the potential to sustain themselves by creating a business model around them. Hence, the business model is a vital component that can be attributed to some of the points below:
- Does the idea provide any value to its users?
- Does the idea really tap the opportunities and solve the unmet needs of the market?
- How supportive are the factors such as Political, Economic, Social, Technological, Legal, and Environmental to the idea in the present and future?
- Could the idea capture a potential market and grow in the future?
- How prepared is the individual/ team to tackle any possible competition existing in the market at present or in the future?
- How well are they prepared to market their product?
- Does the idea have the potential to earn revenue?
- How good is their sustainability plan?
4. Scalability (Weightage: 20%)
Do the individuals/ teams have the potential to scale up (both at the national and international level) by providing innovative solutions that matter? In this context, the following points among others are considered in assessing scalability:
- Is it feasible for the idea to scale up their business to another location other than the primary one in the future?
- How do you assess scalability at an international level (other countries, regions, etc.)?
- How prepared is the individual/ team to scale up?
5. Presentation and Articulation (Weightage: 10%)
Participant/s should be able to articulate their vision and plan properly even at an early stage showing they are in the best position to sustain their ideas. The following points among others are used to assess the articulation and presentation of ideas.
- How is the overall presentation of the idea?
- Is articulation clear enough to understand the idea and product?
- Do the supporting materials help to comprehend the idea more?
Jury
A major responsibility of the program is given to the Jury, who will make the decisions of Screening the ideas from a big volume and selecting 100 ideas that go through the seminars and workshops Selecting the Top 50 from the 100 ideas that go well through incubation in phase II
