Each round of the Business Model Competition Global is judged using the following questions:
1. Did the team use a canvas to map out their validation journey?
2. Throughout their validation journey, did the team identify and focus on the riskiest hypotheses (those that will kill their business) in the following areas:
a. Desirability (do people want it?)
b. Viability (will people pay for it?)
c. Feasibility (can we build it?)
3. Did the team design and run appropriate experiments to validate the riskiest hypotheses in the following areas:
a. Desirability (unique value proposition)
b. Viability (pricing)
c. Feasibility (MVP/prototype)
4. Did the team make appropriate course corrections (iterations or pivots) based on the evidence and insights they found?
5. Does the team’s level of traction (i.e., letters of intent, purchase contracts, sales, partnerships, etc.) match their progression in their validation journey?
6. Is the team solving a significant problem (defined in terms of money or impact)?
7. Did the team articulate a clear set of next actions in their validation journey and articulate a high-level plan to get there?