Next Steps
Entering the $100k Challenge
What Judges look for
Clinics
$100k Workshop
Why Enter
•
Seed Capital and Incubation time
•
Mentoring and Workshops
•
Experiential Learning - Feedback on your idea and how you developed it.
–
–
–
–
•
Networks
–
–
–
–
–
•
Market validation and positioning
Competitor analysis
Financial projections
Business models
Fellow participants
Judging Team
Entrepreneurial Community
University Community
Spark Alumni Community
Visibility
– Media / PR for finalists
– All entrants – judging team
Process
5 ½ WEEKS
TODAY Ideas to Business
w/c 7 July to w/c 4 August $100K Clinics
29 July $100K Workshop
DEADLINE $100k Challenge Deadline
10 August, 12pm, midday Submit a concise Venture Summary (3,000
words, max.)
20 August, 6pm $100k Challenge Qualifiers Ceremony
10-15 teams will be announced to go on to participate in
the Launch Pad programme.
w/c 24 August to w/c 12 October LaunchPad
Workshops and 2 x Mentors per team
21 October $100k Challenge Grand Prize Giving - $50,000 and
incubation
The grand prize, runner up and third place winners
announced
Judges Criteria
Category
Assessment Criteria
Max
1. Market
Opportunity
How well is the target market niche defined? How well validated are the target
customers?
How will the company dominate this niche? Is market niche growing rapidly?
Are the markets large enough to support product/service? How will the company
dominate this niche?
If it is a social entrepreneurship venture will it have an impact on the
community/environment?
30
2. Product/Service
What is the level of the product/service attractiveness? Is it unique?
What is its competitive positioning? Is there IP?
What is its scalability? Does it reach beyond NZ markets?
30
3. Business
Model/Strategy
What is the business model and strategy? Is it appropriate for product/service?
What is the medium term development plan? What are barriers to entry?
15
4. Management
Team
What is their potential? Can company meet milestones and execute?
What is their capability? Does the team have credible domain/technical expertise?
What are the gaps? Have they identified weaknesses and how these will be
addressed?
20
5. Finance
What is the financial plan? Is it realistic and achievable?
5
Total Score
100
Tips
• Information given is how judges will perceive your
idea and you
• Follow the template and stick to the word limit
• Stand Out make your entry easy and interesting to
read
• It’s a business document - make it grounded in reality
– Talk to potential users / customers
– Use Google: Competitors
– Acknowledge assumptions
• Team = >1
– Don’t need all in place but know your needs and gaps
Resources
• Spark Website
– V2B Slides
– I2B Slides
• UoA Databases
– Access relevant through
http://www.spark.auckland.ac.nz/educationevents/resources/library
• Team Builder
– http://www.spark.auckland.ac.nz/sparkchallenges/spark-team-builder
Clinics
•
•
•
•
2-3 per week from w/c 7 July to w/c 4 August
1-on-1 support and help for your idea
Provided by industry experts
Process:
– Complete the Google Docs here and submit it
– The Clinics Manager will contact you to confirm all
the details (you can also email Matt on
clinics@spark-challenge.com)
– Turn up ON TIME
$100K Workshop
•
•
•
•
29 July, 6-7pm
Finer details of Venture Summary
Judges presentation and Q&A
Elevator Pitch preparation and delivery
Process
5 ½ WEEKS
TODAY Ideas to Business
w/c 7 July to w/c 4 August $100K Clinics
29 July $100K Workshop
DEADLINE $100k Challenge Deadline
10 August, 12pm, midday Submit a concise Venture Summary (3,000
words, max.)
20 August, 6pm $100k Challenge Qualifiers Ceremony
10-15 teams will be announced to go on to participate in
the Launch Pad programme.
w/c 24 August to w/c 12 October LaunchPad
Workshops and 2 x Mentors per team
21 October $100k Challenge Grand Prize Giving - $50,000 and
incubation
The grand prize, runner up and third place winners
announced
?