Application Criteria
When evaluating each application NCIDEA will make an assessment of the strengths and weaknesses of each applicant company in the following areas: Idea, Technology, Team, Market, Competition, Strategy, Funding and Impact.
Idea
- Size and significance of problem being addressed
- Benefits, strength, and uniqueness of solution
Technology
- Technology strength
- Stage of development
- Intellectual property
- IP state
Team
- Quality of management team
- Experience of management team members
- Completeness of management team
- Quality of advisors
Market
- Size of the Target Addressable Market (TAM)
- TAM growth rate
- Quality of market assessment
Competition
- Company's competitive advantage
- Number, size and strength of competitors
Strategy
- Revenue model
- Sales and Marketing Plan
- Distribution plan
- Operational plan
Funding
- Prior funding
- Use of grant funds
- Future funding potential
Impact
- Milestones
- Impact of grant funds on company
