The projects are evaluated by Experts specializing in different fields.
Experts give preference to perspectives of proposed projects and evaluation of risks. It should be noted that evaluation is conducted in two stages. During the first evaluation stage Experts generally evaluate the project idea, brief description and other information regarding the project. Each expert gives respective points to projects based on the fields they are specializing. As a result of the first stage semifinalist are defined.
During the first stage, the Experts generally evaluate the extent to which the project could be successful and chances of the team proposing the business idea.
During the second stage semifinalists submit their extended business plans. They make presentations of their projects.
On the basis of experts’ evaluation, finalists are selected.
Experts take the following criterions into the consideration during the evaluation process:
- To which extent the project is attractive from the financial and practical point of view.
- The level of team’s knowledge on market and business details.
- To which extent the business plan or summary is understandable and clear.
- Can the proposed project become the market leader?
- Did the team succeed in developing the project prototype?
- To which extent the team is successful and experienced.
- Does the team have enough motivation to finalize the project?
- Do any of team members have necessary skills to promote the idea or services?
- Does the team have experience or any precise plan to work with investments?
- How long can the project last on the market?
It should be noted that the Experts can make assessments on the basis of their subjective visions and evaluations as well.
Experts can make assessment based either on the abovementioned criterions or on their own knowledge and awareness.
The decision of the Board of Experts and results are published on the website. No appeals are accepted. Decision of the Experts is decisive.