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Commercial Criteria

 

COMMERCIAL POTENTIAL AWARD

JUDGING CRITERIA IRIIE 2014

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NO.

EVALUATION CRITERIA

SCALE/

WEIGHTAGE

A.

NOVELTY AND INNOVATIVENESS

 

i.                    Novelty and uniqueness of the product idea or concept

20

 

 

ii.       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?)

 

15

 

 

TOTAL

35

 

NO.

EVALUATION CRITERIA

SCALE/

WEIGHTAGE

B.

USEFULNESS / BENEFITS

 

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

 

 

10

 

 

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

 

10

 

 

 

iii.     Environmental friendly.

5

 

TOTAL

25

 

NO.

EVALUATION CRITERIA

SCALE/

WEIGHTAGE

C.

COMMERCIAL POTENTIALITIES

 

i.                    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?)

 

 

15

 

ii.                  Status of Invention (Is there any working models or prototypes on

      display? Is the prototype close to the final product? Aspects of

      further development / future planning?)

 

 

7

 

iii.                Market forecast and size (marketability) (How long can the

      product be in the market?)

 

 

5

 

iv.                 Business Plan

-          High: Setting new trend/potential for new market

 

3

 

 

3

 

-          Medium: Increasing interest in new trend/market

2

 

-          Low: Expanding existing trend/market

1

 

TOTAL

30

 

NO.

EVALUATION CRITERIA

SCALE/

WEIGHTAGE

D.

PRESENTATION AND DEMONSTRATION

 

i.            Inventor’s knowledge of the invention and related state of the art

      technology (Is the idea or concept based on strong scientific principles? Is the technical component of the leading edge? Clear verbal explanation of the working principles of the product?

 

 

5

 

 

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

 

 

5

 

TOTAL

10