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RYSEC 2010 - Judging Criteria (Project Accelerator) (Updated 22.06.2010)

RYSEC 2010 - Judging Criteria (Project Accelerator) (Updated 22.06.2010)

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Published by Enjiao Chen

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Categories:Types, Business/Law
Published by: Enjiao Chen on Jun 23, 2010
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RYSEC 2010: Business Plan Criteria
Project Accelerator
Application requirements
 You have an idea and are hoping to change the world. So what do you do now?
 The first step would be to submit a Full Business Plan of your idea to RYSEC 2010!!
What will you need for a Full Business Plan?
o
An 1-page executive summary
Single-spaced, with Arial Font size 12
o
A detailed business plan containing an explanation of your idea and whatyou want to do
Maximum of 
 
??? pages
Single-spaced, with Arial Font size 12
 To help you in this process, we have outlined the main aspects of your idea.
We have come up with the following elements and associated questions that wehope will help you in your thought process.
Key elements required
1.Need Analysis2.Product or Service3.Market Summary4.Revenue Model5.Social Value or ImpactAnalysis6.Resources Required7.Marketing Strategy8.Operations9.Key Risks10.Team Qualifications11.Financial Summary
1.Need Analysis
Any business plan must begin with the potential customer in mind.
o
What is the purpose of the project?
o
What do you expect to achieve from the outcome of this projectimplementation? Vision? Mission?Page | 1
 
o
Who are you trying to help? Who is the beneficiary of this project – NGO/Community/ charity etc.?
o
What are the cause and benefits that it addresses?
o
How big is the potential and need for this project purpose?
o
What research has been done to substantiate the need?
o
Why is it essential to address this problem currently and what would itsimpact be if it is not solved?
o
What is the strategy that you propose which will be different to thosecurrently adopted by others and what is the increased effectiveness?
o
What is the motivation for the beneficiary organization or community to beinvolved and adopt this project?
2.Product or service
 Your business must produce something of value. Will it be a product, aservice, or both?
o
What exactly is your product or service, how is it going to work?
o
What is the benefit and value addition to society?
o
Is there any technology involved in the project proposed to deliver theproduct or service delivered through it? If yes,
o
How easy is it to be adopted by common man in the society with low skillsand education?
o
Is the technology indigenously developed or is it to be sourced fromoutside?
o
How are the systems and equipments maintained?
o
What is the uniqueness of your concept/ social innovation? Is this original?
o
How different, better and cost effective is your concept behind the project?
o
Do you have a prototype or design or proof of concept in mind?
o
How would you involve the NGO or community to deliver the project?
3.Market summary
Page | 2
 
 You must have a clear idea what market your business is going tooperate in.
o
Is there a “gap” in the existing market?
o
What are your niche focus areas and why?
o
Is there already an existing market, or are you creating a new market?
o
If it is an existing market, who are your main competitors?
o
If it is a new market, what makes you so sure that there will indeed bedemand?
4.Revenue model
In order for your business to be up and running, you need to know fromwhom you will receive revenue, and how much.
o
What type of customers do you expect to purchase your product or service?
o
How many revenue streams do you have?
o
Do you have a unique revenue stream that other businesses do not havecurrently?
o
What is the relationship between the cause and value to keep a sustainablerevenue flow?
o
What is it about your revenue model that makes it a sustainable and able togrow with differentiation?
5.Social impact or value analysis
 Your business must produce social value once it is in operation. Have inmind the kind of impact your product or service will have on yourcustomers.
o
What is the social impact and value benefit of this project?
o
Who or which group in the community will feel the direct impact of yourbusiness? Is this impact positive or are there negative side effects?
o
Indirect impact?
o
Is there any possible impact that may arise as a response to your business?Page | 3

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