Quality Check Standards
Submitted applications must pass a quality check in order to be forwarded to our judges for evaluation. The Alabama Launchpad staff will conduct a quality check on all submitted applications. Applicants are advised to review their applications prior to submitting to ensure that your application will pass the quality check.
Non-compliance on any one item, will result in the application being rejected.
- App must be submitted on-time.
- Video cannot be over 3 minutes. No exceptions.
- Video must not be listed as “Private” on platform selected by user (YouTube or Vimeo). Videos marked as “Unlisted” are permitted.
- Business plan cannot exceed 2,000 words.
- Business plan support document must contain requested content and is not more than 3 pages. See Business Plan Guidelines for details regarding requested content.
- Application fee must be paid by the application deadline
Participants which are eligible to receive funding will be evaluated according to a set of evaluation criteria (“Criteria”). The Judging Panel will evaluate each Participant with respect to each Criteria. The Judging Panel will use its discretion in deciding how to weigh each Criteria when evaluating Participants. The Criteria are:
- Whether the Participant’s application demonstrates how its business venture will directly assist in solving one of the Challenges.
- Whether the Participant’s business venture will provide a more substantial impact on one of the Challenges than another Participant’s ventures would.
- Whether the Participant’s application is clear, logical, and understandable from a lay person’s perspective.
- Whether the Participant has the ability to create a sustainable, scalable business venture. This will involve the following determinations:
- Whether the Participant understands its total addressable market, and the portion of the market they can serve and obtain.
- Whether the Participant has demonstrated a clear understanding of its core customer, and whether the customer segment’s need is well-defined.
- Whether the Participant’s business venture addresses its customers’ needs clearly, and whether the Participant’s value proposition to customers is clear and appealing.
- Whether the Participant’s strategy for building relationships with customers is clear, and whether the Participant’s strategy for interacting with customers is realistic.
- Whether the Participant has a clear strategy for how to get its business venture off the ground, and whether the Participant has a clear sense of the key details necessary to bring its business venture to market (e.g., capital requirements, risks, customer service requirements).
- Whether the Participant has a clear, logical strategy to achieve revenue, and whether the revenue streams outlined by the Participant suggest the Participant’s business venture can be sustainable.
- Whether the Participant involved is the right one for the business presented, and whether the Participant has a clear sense of the resources required to succeed (e.g., capital, intellectual property).
- Whether the Participant clearly understands what partnerships are critical to its business venture and will suit its needs.
- Whether the Participant has a clear sense of the costs of its business venture (e.g., unit cost, customer acquisition costs, etc.), and whether the Participant has an understanding of the risks its business venture faces.
- Whether the Participant has a clear sense of the Competition, and a solution superior and defendable to that of its competitors.