Judging takes place in three stages:
(1) First Round
(3) Grand Final
There will be different panels of judges for each of the three stages. Each panel will be made up of executives from the business sector or NGOs which may include philanthropists, venture capitalists, and social entrepreneurs.
The best plan is the one that judges believe will generate the greatest social good subject to feasibility. Not only should the idea be attractive in terms of its potential for social value creation, the plan must be practical in terms of the likelihood of achieving success. The judges will consider the following criteria:
The plan should demonstrate sound understanding of a social issue/need and match it with a viable idea & business model that could address that particular issue/need. The team is encouraged to find novel solutions, ideally those with potential to scale.
The team should demonstrate an understanding of contextual factors such as market demand, size of opportunity, competitive landscape and how these affect the business operation. In addition they should also consider potential risks and constraints such as regulatory, tax, and political issues and explain how they could manage them as appropriate.
The team should demonstrate that it has or is able to acquire relevant skills, contacts, and expertise in order to accomplish its goals. The team should consider leveraging external partners/resources to help them achieve the goals.
Though it is not necessary to compute quantified measurements of the social impact, the team must be able to explain how the business inputs, activities and outputs can generate positive social impacts and outcomes.
The team should be able to demonstrate that its social venture business model is self-sustained in order to generate social impact.