Awards & criteria

How are the submissions evaluated?

Awards criteria

The jury (incl. local and international civil society, science, business and finance experts) will assess the challenge entries against the following criteria:

Degree of Innovation

  • Whether the addressed problem is clear and crucial for the sustainable development of shrimp in Indonesia.
  • Whether the proposed innovation is clearly explained and expected to have a significant contribution to solve the described problem.
  • The degree to which the innovation is really innovative and revolutionary. Is the innovation already used in other countries or sectors, is it really new, does it question fundamental assumptions about aquaculture?

Degree of social, environmental and Impact

  • Whether the proposed innovation will make a significant contribution to the sustainable and inclusive development ofshrimp in Indonesia..
  • Whether it is clearly demonstrating how the proposed innovation will support conservation efforts and/or how it will be improving livelihoods of people involved in the aquaculture sector.
  • Whether a specific element of the innovation demonstrates that the proposed innovation will also improve the livelihoods of marginalized aquaculture producers and will not only be applicable for larger producers (this will be a plus).

Degree of business potential

  • Whether the proposed solution is realistic with an acceptable degree of risk. Depending on the category that the innovation is submitted to it needs to be demonstrated that the next steps (design, demonstration, up-scaling) are realistic.
  • Whether it is clearly explained which customers are targeted and how the revenue model is configured.
  • Whether it is clearly explained what the Unique Selling Points of the proposed innovation are, how the distribution model is configured and how it will compete with other solutions.

Degree of readiness for Finance and Investment

  • Whether the proposed idea is replicable and scalable to different countries and sectors/species
  • Whether the proposed solution will be profitable or financially beneficial to the competition participants or those who will invest in it.
  • Whether it is clearly explained which type of investment and/or (technical, financial or other) support is needed to bring the proposed innovation to the next level.
  • Whether it is clearly demonstrated that there is a strong team with a strong leadership proposal that will lead the further development of the proposed innovation.

The scoring per topic is depended on the proposal category.

What can you gain from the Challenge?

Awards

All finalists will receive
  • A travel package for two members to join a boot camp, from 23-27 June 2019, at an inspirational location in Indonesia.
  • A three-day workshop with business plan coaches and pitch gurus.
  • The opportunity to present your pitch to a diverse group of industry leaders.
  • A year’s STIP bronze membership, which includes access to the Farm Gate Price Portal, the PDF library, a subscription to ShrimpTails and much more.
Production Innovation category winner
  • A cash prize of $50,000 and admissions to the Hatch Blue accelerator program (worth $50,000) for a small equity stake.
  • One member of the winning team will receive a travel pack and the opportunity to attend and present their innovation at the GOAL 2019 conference in Chennai, India.
Consumer Value category
  • A cash prize of $10,000.
  • A travel pack to bring one representative to the GOAL 2019 conference in Chennai, India where they will have the opportunity to present their innovation.