Livery Academy Awards 2022-2023
Assessment and Scoring
The Judges’ assessment will be based on the following factors:
Commercial potential and financial understanding (40 points)
The quality of the presentation, and display of teamwork (20 points)
The team’s performance in the Q&A session (30 points)
Originality of the idea (10 points)
You will look at the need for your product or service and the size of your potential market. Are there any other similar products or services? What are the advantages of them over your product or service (i.e. what makes your product or service unique?) How do you protect your intellectual property and stop someone stealing your idea? Is there potential for expansion? The judges will be looking at all these aspects to determine whether your product or service can survive and thrive in today’s cut-throat market.
Quality of Presentation
The Judges will be looking at the clarity and succinctness of the presentation of your idea. They will also expect every team member to contribute, both in the presentation and the Q&A. Consider holding a session beforehand looking specifically at what questions might come up and prepare draft responses. Perhaps ask someone not involved to listen to the final presentation and see what questions occur to them.
Innovation and Originality
Is your idea ground-breaking? Is it disruptive technology? Have you thought ‘outside the box?’ Many business ideas build and improve on a product or service that is already in the market-place and this is perfectly acceptable. However, if so, you must clearly state the ‘points of difference’ between this and your own business idea. If your concept is based on an app, you should explain in broad terms the technology underlying the app and assumptions behind your development budget.