Introduction
We start with the introduction of the company. In Get in the Ring startups mainly work without slides, so right from the start it is important that we understand what you do.
Understandable: Easy to understand? Not too much jargon?
Grabs the attention: Do they stand out? Did they grasp the attention?
Problem and solution: Is there a clear problem solution fit?
Value proposition: Do they have a unique selling point / unique buying reason?
Mission and vision: Do they have a clear mission? Do they have a clear vision?
1 - Team
Round 1 will focus on the team. The team is one of the most important assets of the startup, we need to understand if this team is going to make the company a success.
Composition: Are the relevant skills present? Is this the right team for the startup?
Experience: Industry experience available? Do they have startup experience?
Culture: Do they easily adapt? Do they have a problem-solving mindset?
Gut feeling: Are they integer? Do they have realistic goals?
2 - Achievements
In round 2 the startups have the opportunity to show their achievements so far. What is their traction? What have they done since they started the company.
Soft traction: Have they won awards? Participated in accelerators? Media coverage?
Hard traction: Do they have clients? How is their pipeline? How are their metrics?
Partnerships: Do they have interesting partner companies which support them?
Milestones: Are they achieving the right milestones? Are they growing?
3 - Business Model & Market
The business model and market will be assessed in round 4. We want to know if the startup has a sustainable business model for the long term and if they know how to reach their target.
Target customer: Is it clear who their customers are? Are they able to reach them?
Revenue: How do they make money? Is the pricing model right? Clear distribution channels?
Scalability: How scalable is the business? Can it be replicated to other markets?
Market: What is the market size? Do they know where to start? Difficult to enter the market?
Competition: Who are their competitors (indirect and direct)? How will they beat them?
4 - Financials & Proposition
Round 4 is focusing on their financials and proposition. What is their current financial status and what are they looking for to grow further? Investment, customers? What is their ask.
Current financials: How are their financials (revenue / expenses / EBITDA)?
Financial projections: Do they have reasonable projections?
Investments: Did they put money in themselves? Do they have investors?
Current need: What is their current ask (funding / support / customers)?
Current valuation: Do they have a realistic valuation? Can they support evidence for this?
5 - Freestyle
Round 5 is freestyle. Are there things we missed? Challenges with intellectual property? Big future plans for the company that haven’t been addressed?
Strengths: Do they have assets not yet discussed? What is unique about this startup?
Purpose: Do they have a compelling story? Is the startup ready for growth?
Future goal: Do they have a clear view what they want to achieve in the upcoming 2 years? What do they need to achieve this and is this realistic?
Scoring
Per round the jury will give a score from 1-5 in the score form provided and 1 overall score for the whole company. Additionally there will be an option to provide feedback. This feedback will be shared with the participating startups.
Final note
Get in the Ring has a lot of similarities with boxing however our goal is not to knock-out startups. We want to support them further in achieving their goals. We therefore like to ask all our contributing jury members to take a critical standpoint when reviewing startups and at the same time give constructive feedback where possible. Also it would be great if a jury member sees a chance to support the startup with a connection in their network or even work with them directly.