Incomplete (1)
Project is missing important components needed to develop a startup. Problem must be inferred. Offering/solution is poorly devised and described. No evidence that market exists for offering. Business model is missing components. No clear direction for how to launch the product or service. Everyday language is used instead business language to present and discuss startup. Presentation of information is awkward and difficult to follow and there is a considerable struggle to answer follow-up questions. No attempt to draw on research to advance startup venture.
Needs Improvement (2)
Project includes the basic requirements, but some areas need refinement. A problem is defined, but no evidence that offering addresses the problem. No clear direction for how to launch the product or service. Business model has all its components, but lacks coherence across components. Attempt to quantify revenue projections and market size, but results are unrealistic. Limited use of business language to describe and discuss their startup. Presentation and response to questions demonstrates the need for more practice and preparation. Questioning reveals limited conceptual knowledge with respect to the venture. Some research is evident in the presentation, but more research is needed to advance project.
Average (3)
Project and presentation meets all core requirements, but additional work is needed for improvement. Problem is clearly defined. Offering provides a viable and innovative solution. Product-market fit is discussed. Business model contains all components while showing some level of systematic thinking. Some attempt to build a brand and market offering through marketing materials and strategies designed to attract customers. Quantification of revenue projections and market size and results are reasonable. Moderate amount of business language used to describe and discuss their startup. Presentation shows some planning and practice, but additional work is required to achieve higher levels of performance. Use of research is evident.
Above Average (4)
Project and presentation exceeds the average project. Problem is clearly defined and offers a viable solution based on the customer needs. Product-market fit is clearly stated and elaborated. Business model contains all components while demonstration systematic thinking. Marketing materials show a brand and marketing strategies have potential to attract specific customer segments. Market size and revenue projections are reasonable and assumptions are given. Launch strategy describes how the offering will enter the market. High level of business language used to describe and discuss their startup. Presentation and response to questions demonstrates a high level of planning and practice. Project relies on research to solve the problem and advance the startup.
Exceptional (5)
Project and presentation are well beyond the requirements of an above average project. A clearly defined problem, its consequences, and an innovative solution based on customer needs. Validation process is clearly described and findings drive the development of the startup. Project is fully grounded in a customer/user problem and clearly defines the value proposition. Business model contains all components. Each business model component shows a high level of elaboration while showing some high-level of systematic thinking. Professional looking marketing materials conveys the startup’s brand while marketing strategies are described and rationalized. A detailed discussion on how offering will be launched as well as a providing a rationale for their strategy. All critical components of the startup have been quantified to measure the success of the project. Presenters always use business language to describe and discuss their startup. Presentation and response to questions demonstrates a high level of planning and practice to deliver a polished and professional presentation. Project relies heavily on research to solve the problem and advance the startup.
