Selection Criteria

The following criteria will be used by the competition judges:

Concept – why is this product or service innovative?
Innovation Components

Clear need: does the proposed venture address a significant and pressing social problem?
Well-defined target: does the proposed venture adequately describe the problem it addresses and define the parameters within which it plans to operate?
Creativity: does the innovation approach the problem in a creative, exciting, and dynamic way?
Feasibility: does the initiative aspire towards realistic and achievable goals? How effectively can it be implemented?
Sustainability: does the proposed venture include adequate strategies for income generation? Does it consider the different dimensions of financial and social sustainability in a conscientious manner?
Innovation impact: how will the implementation of this innovative venture benefit the community and the multiple stakeholders involved?

Suggested Format

Up to 3 single-spaced pages in length with a maximum of 2 pages of appendices.
Entries should include:
- An Executive Summary
- A Statement of the Problem
- The Proposed Solution
- Target Audience
- Goals
- Expected Outcome

For more information on Planning for Small business see the ‘Plan Your Business’ resources under the Small Business Planner at www.sba.gov.

Lally School of
Management & Technology
Rensselaer Polytechnic Institute
Gabriela Sheehan
110 8th Street, Pittsburgh Building,
Email: lallymba@rpi.edu
Phone: 518.276.6565
Troy, NY 12180
www.lallyschool.rpi.edu