We’ve got an awesome set of judges lined up for you. But what will they be looking for when it comes to presentation time on Sunday?
Business Model Validation
Can this idea make money? Customer validation and acquisition strategy. Has a revenue model been defined and is it realistic? Is the idea/team ready for capital? Would you invest in this company at this point?
Is there a functional prototype?
User Experience Design
Does it have a professional look and feel? Does it deliver a compelling and captivating user experience? Is it memorable? What key insights were gathered over the weekend to go in this creative direction?
What does all that mean?
So as you can see here, a lot of the criteria relates back first and foremost to customer validation. How do you find out whether you can make money from your idea? Find out whether people have the problem you’re trying to solve! And then find out how much of a problem it really is for them and how much money they’d be willing to part with to solve that problem.
The judges also need to be able to see that as a team you have the skills required to deliver the solution you’re presenting. Developing a demo product that does a part of what you want it to will evidence this.
And User Experience Design – what on earth is that, right? Well, what is the journey your customer will go through when they’re using your solution? And what stories did your customers tell you that led you to making these key design decisions for your product?
What to remember:
1. Don’t assume you already know the answers to any of the above
2. Your potential customers have the answers, but they will probably try to lie to you
3. Look for trends in the stories you’re getting from your customer interviews
4. Use those trends to determine what you will build and how it will look