- Market Need, Expected Outcomes, and Impact:
Does the company present a compelling value proposition for the Phase I and II Project?
Does the discussion of need demonstrate that there is market-pull and breadth of potential commercial impact for the innovation? In addition, can the company make a solid case that there are potential societal, educational, and scientific benefits of this project?
Does the non-commercial impact add to the overall significance of work being proposed?
- The Company:
Does the company have focused objectives and the appropriate core competencies?
Does the company have the appropriate resources to perform the tasks being proposed and to take the project through to commercialization?
If the company has several years of experience, has it experienced growth?
Does the company have a good record of commercializing prior SBIR/STTR projects or other research? Or, what are the processes for commercialization?
How does the company plan to grow/maintain itself as a sustainable business entity?
- The Market, Customer and Competition:
Does the PI/Company understand the market in which the product will be introduced?
Is the customer adequately and correctly described?
Are the benefits to the customer and the hurdles to acceptance of the innovation adequately described?
Does the PI/Company know and understand the competitive environment?
What is the company's ability to execute a marketing and sales program to bring the technology successfully to market in view of this competition (or competitive environment)?
What are the strengths and weaknesses of the company's marketing and sales strategy?
- Intellectual Property (IP):
Is intellectual property addressed and are there plans for sufficient protection to get the product to market and attain at least a temporary competitive advantage?
What is the company’s prior record in this area?
What is the company’s strategy to build a sustainable business through protection of intellectual property.
- The Financing:
Has the Company properly estimated the amount of funding needed in Phase I, II and III?
Does the company have a high probability of securing this funding?
Has the PI/Company identified specific companies for financial commitments, prototype purchase and/or will they fund themselves?
If there are no "hard" commitments for funding (i.e. letters of interest or intent), does the company have a solid roadmap for pursuing the funding needed to commercialize?
- Revenue Stream:
What are the company’s plans for generating a revenue stream?
Are the revenue projections and the assumptions behind the revenue projections realistic?
Is the revenue stream sustainable?
Will it lead to robust company growth or at least sustain the product (and / or the service) through its life cycle?