XIII.- Outline Business Project

Teams participating in the Caribbean Innovation Awards who will present their business plan or project in a different format than the suggested will be disqualified, therefore will not be evaluated. Teams should review the scoring criteria and evaluation in the section Evaluation Criteria and Scoring of this document in order to know how their business plans will be evaluated and to ensure that all relevant points are covered in their presentations. The Project or Business Plan submitted for the CIC should not exceed 20 pages in length in Arial 11 font, single space.

A. Executive Summary - No more than 500 words (one page, concrete and concise), including:

• Statement of work and synopsis of the business plan, including a concise breakdown of financial analysis.  

• Explanation of the project/business innovation 

B. Innovation

• Demonstrate how the Project Plan creatively addresses issues to improve lives.

• How the Project Plan demonstrates improvement and satisfies the market needs.

• Type of IP tools that will be utilized in commercialization of the innovation

C. Market Feasibility

• Explain the feasibility of the solution

• Market Research

• Target market and market niche

• Competitive Advantage

• Short, Medium and Long term objectives

• Prototype Technical Specifications

• Production Strategy, Machinery and Equipment (if applicable)

D. Management and Organizational Structure

• Organizational Chart: Logical and structured, well-defined roles 

• Mission, Vision and Objectives

• Intellectual Properties and Patents (applicable for the safe water solution only)


E. Financial Feasibility

• Short, Medium and Long Term Objectives

• Cost Analysis

• Initial Investment and Return on Investment

• Sustainability (applicable for the safe water solution only)