Judging Criteria

Applications are now open and will remain open until February 26th 2020, 17:00 CET

What will the judges be looking for?

The judges will be looking for the following attributes when assessing applications to the Challenge Prize:

Innovation and type of solution

  • An innovative new solution, or innovative application of platforms, tools, services, approach or products to support older adults in business ventures and intergenerational entrepreneurship. 
  • Based on a clear description of the technical architecture and key processes/functionalities 
  • Solutions can be based on a model or product approach. Technology can be used as an enabler as part of a broader solution incorporating non-technological elements
  • Solutions should consider the intersectional challenges of different racial, gender, socioeconomic and other groups within the ageing sector and aim to be inclusive to all
  • Any digital technology components of solutions should not exclude older adults with more limited digital skills
  • To have at least a working prototype
  • Ready to be presented at the Academy event in summer 2020

 

User testing and Co-creation

  • Solution, process and design is centred on the needs, wishes and aspirations of older adults
  • Development of the solution (including, but not limited to, the digital technology component) carried out with users, from first concept, through testing, validation and business modelling.
  • Solution is usable and desirable to older adults.

 

Market potential and Scalability

  • Strong business plan including a clear idea of revenue streams and a strategic plan for attracting investment or funding
  • Readiness to go to market within 12-18 months
  • Well-identified customer segment and plan to approach it

 

Focus on entrepreneurship creation

  • Enabling collaboration and engagement with other generations
  • Potential for senior entrepreneurship – this could include opportunities in business, mentoring, and involvement in social ventures
  • Championing the assets and skills of senior talent 

 

Impact

  • Evidence that the solution can have a real, positive effect in empowering older adults through entrepreneurship. This should be embedded in the strategy of the company and demonstrated through a robust logic model or ‘theory of change’. 
  • Message and language used to prevent discrimination, stigmatisation and “ageism” to help build an age-inclusive and intergenerational future
  • Ability to demonstrate a measurable improvement in the quality of experience and impact on wellbeing in a relevant number of older adults within 18 – 24 months;
  • Solutions should integrate asset framing, including a clear plan, indicators, outputs and goals 

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