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THE IDEA FRAME WORK
THE IDEA FRAMEWORK
Guidelines to Complete:
Individual or team of founders and Co-founders, please provide details as required in the idea submission format
Ideas need to be submitted in a specific format only
Idea submission must cover the following:
The idea and the need
: Describe the concept in terms of an unfulfilled need or existing gap in the current market scenario and how the product/service/technology will overcome that.
What is unique about
innovation?
How does it demonstrate a substantial difference from other initiatives in the field?
Market Analysis
: Analyse the market potential of the product/service in terms of size and competition/technology, customers, who are competing.
Feasibility of the Idea
: Financial feasibility and viability. Identify risks involved in realizing the idea and implementing it as a business.
Value Proposition
: Elaborate on the value for the customers and how the idea differentiates itself from the rest of the competition.
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