In order to qualify, the presenting companies are required to substantially meet all of the following criteria:
- Large Potential Market: potential sales Europe- and/or worldwide.
- High Anticipated Growth Rate: Projected annual sales growth of 15% or more.
- Experienced Management Team: Key managers who have done it before, especially with similar products or related business.
- Sustainable Competitive Advantage: A distinct advantage compared to the competition.
- Barriers to Entry: Economic means to discourage or beat competition in the field. e.g., proprietary technology or business method, patent, trade secret, number of years ahead of the competition.
- Clear Strategy for Commercialisation: A realistic plan to bring product to market.
- Proof of Concept: Ideally, a product or service that clearly fulfils a need, has achieved some level of sales, key strategic partners or solid sales commitments.
- Business Model Anchored in Reality: Management has thoroughly assessed its market, product development costs, on-going operating expenses and overall funding requirements.