The Digital Innovation Competition
The participants should provide a relevant, viable, scalable, desirable, and actionable concept proposal through their 2-minute video, for a product/market fit service/solution.
The two-minute pitch should address the following:
- Value proposition/Problem – What problem are you solving? Provide a brief story about the issue being considered by your innovation.
- Solution – What is the solution to the problem? Explain how your product/service works and how it is unique. Show a picture or video of the prototype or demonstration.
- Market, Growth, and Revenue Model: How big is your market? Who are the customers? What is the plan to scale the startup? How do you sustain the business / How is revenue generated? Has the innovation/product been tested? What volume of sales are you generating?
- Areas of Interest: Applicant will need to demonstrate critical challenges resolved through digitally enabled innovation solutions in the areas of Fintech & Cyber Solutions, Sustainability & Supply Chain, Human Development & Social Services Solutions.
- Applications will be valid and examined only if the form is fully completed and the video is submitted online by the above due date.
- Each Applicant will certify that the responses to the questions are truthful to the best of their knowledge and that they are prepared to provide supporting documents.
The pitches will be evaluated based on the following criteria:
Relevance – A comprehensive understanding of the purpose of the Competition.
- The product/ service/solution proposed must be digitally innovative
- The proposed service/solution must address a clear and compelling vision and ambition.
- The proposed service/solution must address clearly defined target clients and markets.
- Services/solutions that integrate a cross-border approach in the service/solution will be considered a plus.
Viability and scalability – A viable, impactful, and scalable business rationale.
- The proposed service/solution must show that it is economically viable.
- The proposed service/solution technology should be clearly described.
- The proposed service/solution must have the potential to realize benefits (direct and indirect) for the company (e.g. increased business opportunities, expansion into new markets, development of the company’s offering).
- The proposed service/solution must be scalable.
Desirability – A clear and tested demand or desirability for the service/solution.
- The proposed service/solution must show a value proposition that meets the needs of the targeted clients and markets.
- The proposed service/solution should clearly explain how the service will be delivered to the customers/clients.
Actionability - the ability of the company to deliver the service/solution.
- The proposed service/solution must demonstrate to be actionable within a 1-year timeframe and be supported by a consistent action plan.
- The proposal must determine a capable team of professionals with the relevant expertise
- Able to implement the proposed service/solution.
- The proposed service/solution must present a compelling communication and dissemination plan.
- For the 10 Finalists, the applicants will further be evaluated according to the quality of the pitch delivered to the panel of judges (pitch can be supported by PPT and/or videos).