The Startup Weekend judging criteria is broken up into three sections. Teams are judged according to the following 3 criteria (weighed equally):
1.Business Model–if you haven’t got answers to these questions, you spent too much time on frills & features and need to get back to the basics:
- Who is your customer and what problem are you solving for them?
- How do you reach them (distribution channels)?
- What is your core value proposition?
- What are your revenue streams (how do you make money)?
- What is your cost structure?
- Who/what are your key partners/resources?
- What is your roll-out strategy?
2. Customer Validation–have you taken the proper steps to ensure that the people who matter (your future customers) support and reinforce your assumptions? Think of Customer Validation as ‘evidence’ to back up your key early assumptions (your Business Model). The more feedback you gather (quantity), the more this feedback comes from your specific target market (quality), and the more you’re able to actually integrate this feedback into the Business Model and product development (execution), the better.
3. Execution–the nitty gritty: what has your team been able to actually build over the weekend? Even the strongest of Business Plans are useless in the hands of those who can’t properly execute on them. Getting as far as possible in the development of your product/prototype not only helps give Judges a tangible vision of what the final product could be, but proves your strength and skills as a team. This is what truly matters: investors don’t invest as in ideas so much as teams.