Portsmouth Centre for Enterprise (PCE)

Judging

Stage One:

Judges:

All Entries are judged internally. Results are to be announced on the evening of Tuesday, 9th February 2010 in Portland building. You will be contacted with more details.

Stage One of Enterprise Challenge seeks to identify ideas, linked to a business proposition, which have potential for growth. The judges are looking for ideas in which:

  • the potential of the business has been clearly thought out in terms of the numbers and needs of customers
  • the abilities and responses of competitors have been considered
  • awareness is shown of the skills needed to develop the business
  • the viability and future growth of the business are envisaged

Stage One Criteria:

Quality and development of the idea, Awareness of customers, Awareness of competitors

  • Is the product / service clearly defined?
  • Is there any evidence to indicate a market need / desire?
  • Are competitors identified? (sector, type, name?)
  • Are its potential benefits clearly defined?
  • Are the target customers clearly defined?
  • Is there awarness of what threat they pose?
  • Are there identifiable unique selling points?
  • Is it clear whether the idea / service is B2B, B2C, or both?
  • Any indication of how the business will stay ahead of competition?
  • Is there indication of the size of the target customer base? Is it large enough?

Awareness of Skills, Viability and Potential Growth, Clarity of Expression

  • Are the relevant and needed skills, qualities, experience defined?
  • How will this business grow and develop?
  • Are the ideas clearly understandable?
  • Is there any evidence of the team having relevant skills, qualities and experience?
  • Are there plans for expansion?
  • Are they clearly expressed?
  • Is there any consideration given to how the needed skills can be obtained?
  • Are they potentially realistic?

Besides your own ideas, the judges will be looking for evidence.

Evidence may come in many forms, for example: photographs, drawings, diagrams, samples, market research information (either your own work or published by professional market research organisations), your own research, cuttings from articles in newspapers, magazines and journals.

Students whose first language is not English will not be penalised in any way. Grammar, punctuation and spelling will not be taken into account. Clear handwritten applications will be treated the same way as typed ones, however, unreadable entries may not be judged.

Stage Two

Judges:

The Judges will all be external professionals (Sponsors, Local Businesses). We will send the Business plans to the judges about 4 weeks before the judging day.

The Judging will take place early June 2010 in Action Stations, Portsmouth Historic Dockyard through presentations and display stands. Judges will go around and talk to you, giving you advice on your ideas.

Stage Two Criteria:

Quality and Development of the idea, Feasibilty and Sustainability, Quality of the team

  • Is the product / service clearly defined?
  • Is there a clear and large enough customer base?
  • Does the team has knowledge of the indutry?
  • Is it clear how the product / service will be provided?
  • Is there a realistic basis for sales forecast?
  • Does the team have relevant skills?
  • Are there clear benefits and unique selling points?
  • Is the team aware of the competition?
  • Is there awareness of / action to remedy any gaps in skills / experience/ knowledge?
  • Is there any evidence of how the initial idea will be built on, or an exit strategy?

Finance, Other possible areas

  • Are cost assessments realistic?
  • Is the plan presented in a way which is interesting and easy to understand?
  • Is there any clear and reasonable basis for pricing reasons?
  • Is there awareness of ownership and protection of intellectual property rights?
  • Is any funding requirements and possible sources clear?
  • Is there awareness of relevant governement or other regulations?
  • Is this business likely to make money?

Please note:

A business plan is never complete - it is a working document. There will, of course, be parts of your business plan where you need to do more work. Don't worry. Make it clear that you understand that more work is required, what the work involves and how it will be done.