ABOUT THECUTTING-EDGE JUDGING PROCESS
We believe that innovation needs a passion for business.
Each of the NOVO Awards’ six entry streams has a panel of specialist judges. Judges review the applicant’s entry and three-minute video pitch. Judges award up to 10 points for each of the below key principles (the maximum score being 50/50). The top scorers overall (across all streams) will qualify for a NOVO Award.
Additionally, the five top scorers from each stream will be short-listed for a special Gold NOVO Stream Award.
Entrants that are short-listed for a Gold NOVO Stream Award will be interviewed in person (or live-video link) by the judging panel. We will choose the winners based on the judges’ expert opinions and votes.
The NOVO Awards are judged on five key principles:
Degree of Innovation of the Idea (product, service or process):
Are there distinct, game-changing advantages over existing alternatives? Does the innovation offer a fundamentally new and improved way of doing things? Will it revolutionize a market segment or open a completely new market (creating a need that is unfulfilled or not even currently existing in the market)?
Viability and Delivery:
Does the innovation make sense (conceptually, technically and financially)? Is it viable to make it through production and be delivered to the greater market?
Is its message and broader story communicated in a clear and convincing manner? Have consumers or staff been engaged yet? How? Have they seen clear benefits from the innovation? What do they think about it?
What is the likely impact on society in general through the introduction of the product, service or process? Will the county of Essex especially benefit from the innovation? How important was creating a positive legacy to the development roadmap of the innovation?Is its message and broader story communicated in a clear and convincing manner? Have consumers or staff been engaged yet? How? Have they seen clear benefits from the innovation? What do they think about it?
Value and Financial Sustainability:
Is the product, service or process commercially viable in the real market? Is there adequate market potential? Is the organisational plan to manage this venture well thought out? Does it seem likely that the innovation will continuously succeed in generating enough revenue to cover costs and operation?
Is there a clear strategic development path for the innovation? Is there potential for the innovation to be adopted across other industry sectors? How has market research been utilised to contribute to development plans?