Each submission will be judged based on the elements below.
- Structure of Venture Summary: clarity and quality of writing; structure and sequence of ideas; the document reads well.
- Innovation & Value Proposition: original/innovative idea; solving a problem for customers; must-have vs. nice-to-have; feasible, marketable, profitable.
- Market Opportunity & Strategy: potentially large/fast growing market; niche identification; competitor and customer analysis; effective strategy.
- Product & Services (Platform): clear product/service/platform description; product/service is superior to competitors; addresses actual customer needs.
- Potential to invest in this idea: credibility and persuasiveness; it can work and will create value; understanding of entrepreneurship; demonstrates industry knowledge.
- Social impact: Clear outline of the social impact and how it will be achieved and sustained.
The judging is in two stages:
- Stage 1: Ranking of all applying companies by individual judges according to the judging criteria.
- Stage 2: Pitches by the 15 top-ranked companies during the Pwani Innovation Week event.
The following process and timeline will be followed towards and after the awarding of the prize:
|Milestone||By Date||Key Contact points
|Stage 1: Ranking of all applying companies by individual judges according to the judging criteria.||29th Nov||Judges|
|Consolidation of rankings by judges to select top 15.||30th Nov||Swahilipot Hub & 1000 Alternatives|
|Notification to companies to prepare for Pitch Day||2nd Dec||Swahilipot Hub|
|Stage 2: Pitches by the 15 top-ranked companies during the Pwani Innovation Week event.||4th Dec||Swahilipot Hub & 1000 Alternatives|
|First selection of top-5 from Pitch Day||4th Dec||Swahilipot Hub & 1000 Alternatives|
|Award Ceremony||5th Dec||#PIWPitch Awards by 1000 Alternatives|
|Due diligence of top 15 companies||5th Jan||1000 Alternatives|
|Cash transfers after due diligence passed||10th Jan||1000 Alternatives|
|Incubation programme starts for top 15 companies||20th Jan||Swahilipot Hub & 1000 Alternatives|
|End of incubation programme||30th Apr||Swahilipot Hub & 1000 Alternatives|