To conclude Danish Tech Challenge, the participants present their projects to an external jury. The winner will receive Industriens Fond’s Entrepreneur Award of DKK 500,000 for the development of the business.
We work with the following criteria to win the competition:
- Market potential:
- How big is the addressable market?
- Has the business conducted a thorough competitor analysis?
- Is there an actually validated need for the product?
- Has the business clearly defined and researched their customer segment and end users?
- Has it been validated that customers are willing to buy the business’ products directly from the business and at their price?
- Does the product actually resolve the problem?
- Is the business technology innovative?
- Can the technological edge be maintained/protected?
- Business model:
- How will the business make money on the product?
- Are sales channels, production and development costs as well as business models validated?
- Is the business actively working on validating assumptions?
- Does the team have the necessary skills to implement the project, or is it credible that they can attract the skills when the need arises?