Judging
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Judging
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The judges are a panel of professionals who dedicate many hours during the year to reading plans and providing feedback. They can be segmented into three general categories: venture capitalists and angel investors; successful entrepreneurs; and professional services providers working in the business community. Most have strong ties to the University of Melbourne, but this is not a requirement.
Judges will evaluate the viability and potential profitability of the project: everything from the value proposition to marketing, financials, intellectual property, partnerships and personnel. The judges are the people who have the responsibility to decide whether your project will successfully go on to the next round and, eventually, win the competition.
In the Semi-finals and Finals, you will pitch directly to the judges and will receive valuable questions and comments during the Q&A session after your presentation. Also, for each judging round, judges are required to provide detailed feedback for each project, which is provided to teams via soft-copy immediately after.
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Questions asked when reviewing business plans
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- Is the business opportunity as presented both highly attractive and clearly realistic?
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- Is the business defensible from competitors?
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- What is the business model?
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- What comparisons are there to past success stories that indicate this venture will succeed?
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- What is the amount of initial capital investment required?
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- Do the market and financial projections demonstrate that the team understands its business?
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- How long will it take from the current stage of development to bring this to market?
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- Can this venture achieve position of market-leadership?
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- Has the team gone out to the market already to test its ideas?
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- Is the team of sufficient diversity, balance and quality to make its ideas happen?
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- Is the team focused on its target market?
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- What is the expected time and exit strategy for investors?
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- Is the plan clear and well-written?
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- Does the team have the necessary communications skills to present a compelling story?
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- What roles will the team members play in the venture moving forward?
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- Are the team members dedicated to the venture and their roles in the group?
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- Does the team have a clear plan for spending the investment money it receives?
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- Why is this business going to be around and winning venture in 5 years?
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