The Avanade Digital Innovation Signature Award will recognize the young entrepreneurs who were best able to put their digital skills into practice to conceive an innovative business idea or concept.
In addition to having an excellent business plan the start-ups will be judged on their ability to demonstrate the most creative use of digital innovations such as, mobility, collaboration tools, cloud-based technology, machine learning, artificial intelligent, Internet of Things (IoT) and blockchain, in their products or services.
The Criteria and Award Info
The Award will go to the team whose business concept best demonstrated excellence in the following areas:
Business Viability (20%)
- Does the team demonstrate sufficient business potential, with a realistic and practical business plan?
- Has the team presented a well thought through plan (do they have in place a strategy, business case, partnership structure, distribution channels) that have all the elements of being successful in the identified markets
- Does the company accurately recognize and fill a gap in the market, or create a new one? Does the team have potential investors lined up, and a market tested product?
Customer Experience (20%)
- How does the concept improve experiences of the customer?
- What friction points/challenges does this solve?
- What is the North Star experience you are seeking to create and how does that benefit the customer?
Use of Digital Innovation (taking into account feasibility) (20%)
- Has the team demonstrated application of digital innovations such as those listed above in their product or services?
- Does the concept bring together the right mix of digital technologies and innovation to realize the North Star experience?
Business Sustainability (15%)
- Has the team demonstrated concrete steps to ensure a real and sustainable business, from leadership, recruiting top talent, operational agility and efficiencies, sound decision making where it comes to taking calculated risks to grow?
Digital Ethics (10%)
- Has the team demonstrated a commitment to digital ethics?
- Which digital ethics principles are taken into consideration by the start-up?
- Does the product or service development demonstrate an approach or a methodology based on the concept of “digital ethics by design”?
Presentation and soft skills (15%)
- Was the team’s presentation creative and compelling?
- Does the team demonstrate effective team work and communication skills to present their company to various stakeholders?
BONUS Criterion – Use of AI/Data Technology (5%):
- Has the team successfully combined the business concept idea with data management / AI technologies to offer innovative solutions and/or new business model scenarios?
The prizes were designed to help the young entrepreneurs to take their business to the next level, with a cash prize of Euro 1,000 to further develop their innovative idea. The winners, furthermore, will have the opportunity to meet and engage with Avanade Senior executives at the Avanade London Headquarters followed by a dinner (pending due to COVID-19). Additionally, one to one mentoring for team members and coaching from Avanade executives to continue building on their skill set, and invitations to select Avanade activities and events.
Signature Award Jury
Global Citizenship Senior Director, Avanade
Lise af Ekenstam
Executive – Europe Marketing and Tech for Social Good, Avanade
Corporate Citizenship Manager, Avanade
Executive VP for Data & AI, Avanade