The purpose of the Concept Competition is to surface ideas from all parts of the university at every stage of development. Students are encouraged to come up with out-of-the-box ideas that could be translated into compelling projects. Submissions are not expected to be a full business plan, and will not be penalized for not having a working prototype, fully developed team, forecast, revenues, etc.
In their decision-making, the judges will be considering the following questions of the concept proposals and presentations:
WHAT IS THE PROBLEM? WHO CARES MOST ABOUT THIS PROBLEM? WHY?
Does the submission identify and describe an addressable need, want, problem, and/or opportunity in society?
Does the submission identify and somehow quantify the people or entities that experience this need, want, problem, or opportunity? These people/entities might purchase the product or service (i.e., as customers) or might lack the means to purchase the product/service yet would benefit from the product/service if made available (i.e., as beneficiaries).
WHAT IS YOUR BIG IDEA?
Does the submission present a novel, original and compelling solution, whether product or service, for addressing some need, want, problem, and/or opportunity in the world? This solution might be based upon a new technology, design, production or process through which the product/service is delivered?
WHAT MAKES YOUR BIG IDEA SO BIG?
Does the submission not only describe the alternative solutions, but also outline how the Big Idea is an improvement over these alternatives?
Does the submission somehow value this innovation from the perspective of a customer, beneficiary, or society? This valuation might be in terms of what price people/entities might pay for the solution, or what benefits might accrue to these people/entities or society were the solution available (i.e., social impact).
OH YEAH? PROVE IT!
Does the submission make sufficient use throughout of evidence and analysis to justify the claims being made?