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COMMERCIAL POTENTIAL AWARD

COMMERCIAL POTENTIAL AWARD

JUDGING CRITERIA IRIIE 2013

Evaluation Criteria

 

Scale

 

A.      Novelty and Inventiveness

-          Novelty and uniqueness of the product idea or concept

-          Inventiveness (Is there any modification/enhancement/new development of the similar existing product. Would it likely lead to a new product, system, design, material or process?)

10

 

B.      Usefulness / Benefits

-          Relevance of the invention in solving the problem (s) concerned (Does the research product solve any problem? Is the product of significance in that technology field?)

-          Contribution of the invention to health, safety, education, environment, social impact, policy, human development, etc.

-          The usage of the product after commercialization.

-          Beneficial effect of commercialization to the economics, social and standard of living

25

 

C.      Commercial Potentialities

-          Market potential of the invention (Is there any evidence of market need? Is the product /Invention comparable or superior to similar products in the market?)

-          Status of Invention (Is there any working models or prototypes on display? Is the prototype closed to the final product? Aspects of further development / future planning?)

-          Market forecast and size (marketability) (How long the product can be in the market?)

-          Cost Effectiveness (Cost of produce the product and market selling price)

-          Business Plan

-          High: Setting new trend/potential for new market

-          Medium: Increasing interest in new trend/market

-          Low: Expanding existing trend/market

 

 

40

 

D.      Academic Recognition and IPR

 

Is the invention published? (Exhibitor must provide evidence)

-          local proceeding      –  International proceeding

-          Non- Indexed Journal       – Indexed journal  - Impact Factor

-          Book  - book chapters

 

Status of Intellectual Property Right (IPR)

-          IP Filed                               – IP Granted

 

MOU/MOA signing

 

15

 

E.       Presentation and Demonstration

-          Inventor’s knowledge of the invention and related state of the art technology (Is the idea or concept based on strong scientific principals? Is the technical component of the leading edge? Clear verbal explanations of the working principals of the products?

Display of the invention (Is the invention well presented? Are there adequate figures and diagrams etc. to explain the working principal of the product?)

 

10