Startup challenge platform
We are the start-up analysts in the Netherlands. In recent years we have analyzed thousands of business plans based on our own software and provided feedback. In addition, we coach, we give workshops on investor readiness and we help startups find financing.
During this work we were also regularly asked to judge startup challenges. Here we discovered that this was often a complex and unstructured process. Many organizers of startup challenges experience the following:
1. Expectations about quantity and quality
Organizing a competition is often done with expectations about the quantity and quality of the participants. In practice, however, it appears that the expectations are never 100% true. A surplus of participants leads directly to pressure on the organization, the jury and ultimately, also the participants.
2. Lack of structure
Although organizers often prepare instructions for the participants, they hand in business plans in all shapes and sizes. This results in an inefficient and especially time-consuming assessment process for the organization and jury.
3. They are not all winners
Where a competition is being held there are always more losers than winners. When the criteria and assessment of a participating startup are not clear, this often leads to dissatisfaction with the majority of participants. This can result in a negative association with the organizing party and does not contribute to building an involved community. Collecting feedback from jury members, but also subsequently communicating this to the participants, often takes (too) much time. As a result, the startup has lost valuable time by registering for the challenge, without receiving any valuable feedback.
4. Difficulty complying with GDPR regulations
The business plans of the participants (often with confidential information) are mailed back and forth to organizers and jury members. This is a risky method where the leakage of sensitive company information is almost inevitable. But signing a processing agreement with each jury member and forwarding all files encrypted also takes too much time and is therefore often overlooked, resulting in angry participants and sometimes serious fines.
Golden Egg Challenge Platform
Whether it is a startup challenge, startup award, hackathon, innovation challenge or other similar event, there is often more to it than the organization thinks. We have therefore created the Golden Egg Challenge Platform.
This is a closed environment in which participating startups can shape their business plans based on the criteria drawn up by us (or the organization). The startups, assessors and jury all work in one platform, making the work of everyone easier. We can facilitate just the platform, but we also have the expertise and the network to handle scouting of startups, assessment and judging.
A good example of a successful collaboration using our Startup Challenge Platform is the Postcode Lotteries Green Challenge 2019, in which more than 1000 startups prepared their plans and were assessed. View the case here!
Do you have any questions or will you soon be organizing a startup challenge, competition, award or competition and are you curious about the possibilities?
Fill in the form to get the brochure with more information about the possibilities of the platform! Or contact us without obligation via (+31) 53 4500012 or firstname.lastname@example.org.