<aside> 💡 This page covers the practicals of the NextGem pitching competition organized by Ghent Slush’D in collaboration with Pitchdrive, imec istart, and imec xpand , where startups compete for the ultimate Slush Helsinki prize!

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Requirements

An open call is being made to young, primarily technology-driven businesses that possess a scalable business strategy and are seeking rapid development. While the startup can be in any phase of its lifecycle, here are the clear requirements:

  1. Age of Businesses: The open call is specifically targeting startups that are relatively new, typically within the first 5 years of operation. This time frame allows for businesses to be considered "young" and still in the early stages of growth and development.
  2. Technology-driven Focus: Startups applying for this opportunity should have a strong emphasis on technology and innovation. Their core business model, product, or service should leverage technology as a key component for growth and differentiation.
  3. Scalable Business Strategy: The startups should demonstrate a scalable business strategy, meaning their model has the potential for substantial growth and expansion. This might include leveraging technology to reach a wide customer base, exploring new markets, or developing a product/service that can be easily replicated or scaled up.
  4. Quick Development: The open call aims to support startups that are looking to accelerate their growth and achieve milestones rapidly. While the exact timeline may vary, the program could provide resources, mentorship, funding, or other support to help startups expedite their development process.
  5. Early to Late Stage of Startup: The open call is open to startups in any phase of development, ranging from early-stage to those already generating revenue. It needs to be more than an idea, however.

Judgment Criteria

  1. Innovation and Differentiation: Evaluate the uniqueness and originality of the startup's product, service, or business model. Look for innovative approaches that set them apart from competitors.
  2. Market Opportunity: Assess the size and growth potential of the target market. Consider factors such as market demand, competition, and potential for expansion into new markets.
  3. Scalability and Growth Potential: Evaluate the startup's ability to scale its operations and achieve rapid growth. Look for a clear strategy for capturing market share and expanding the business.
  4. Team Strength: Assess the capabilities, experience, and cohesion of the startup's team. Look for a diverse skill set, relevant industry expertise, and a strong leadership presence.
  5. Business Model and Revenue Generation: Evaluate the startup's business model and its ability to generate sustainable revenue. Consider factors such as monetization strategies, customer acquisition channels, and potential for recurring revenue.
  6. Execution Plan: Assess the startup's execution plan and milestones achieved so far. Look for a clear roadmap, actionable steps, and a demonstrated ability to execute their strategy.
  7. Presentation and Communication: Evaluate the clarity, coherence, and effectiveness of the startup's pitch presentation. Assess their ability to communicate their value proposition, market opportunity, and growth strategy.
  8. Financial Viability: Assess the startup's financial projections, cost structure, and revenue streams. Look for a solid understanding of the financial aspects of the business and a clear path to profitability.
  9. Impact and Sustainability: Consider the potential positive impact of the startup's product or service on society, the environment, or a specific industry. Assess their commitment to sustainability and responsible business practices.

Prize