Value Proposition

• Has the product/service offering been clearly articulated?

• Is there a recognition and awareness of other similar and competing products, and has the applying business clearly articulated what makes their product/service better and more appealing to customers? – the point of difference could be around innovation or business model

• Has the business outlined clearly the stage it is currently at and what the key up-coming development/growth milestones are?

• If IP is required, is clear ownership and freedom to operate demonstrated?

• Has the key innovative element of the business offering been developed fully by the applying business?

• Is the product/service easily replicated, and has the business demonstrated how they will alleviate concerns about being copied?

• Is there a clear sense that the key business risks are understood and can be addressed?

• Where applicable, has the business demonstrated a willingness to act of previous feedback and use this to support the business development/growth strategy?

Team

• Does the business leadership team have the right mix of skillsets to drive the business forward?

• Is there sufficient commercial experience in the team or advisory network to enable the proposed growth plans to be achieved?

• Can the business leader call on any past business successes or failings to help in the current entrepreneurial journey?

• Are there strong business foundations in place to demonstrate this is an investable team with a robust plan for growth?

• Where applicable, do the wider team members have the skills and experience to add value in their role and support the business growth strategy?

• Does the individual or team evidence that they know what key skills are missing from the team to enable them to grow the business?

• Has a network of business support advisers/mentors been established?  Do they add value?

Impact

• What core values and culture has the business leader / leadership team set out for the business?

• With Scottish EDGE assistance, does the application suggest the ability to create new, sustainable Scottish jobs?

• Does the business demonstrate a strong social impact focus or is there strong social intentions built in to the future plans of the business

• Can the business leader / leadership team highlight any specific social impact activities they currently deliver or will aim to deliver – supporting Young or Disadvantaged People, Rural Community focus, utilising Local Suppliers, backing Community Initiatives?  If so, how many people have been positively impacted by the Giving Back activities of the business?

• Is there a current commitment to delivering inclusive practices as the business looks to grow e.g. Living Wage, non-use of Zero Hours Contracts, Workplace Diversity (including gender split, BAME, young people, disability

• Does the business outline a clear focus on delivering positive environmental impact?  Is there a plan in place to support a Net Zero strategy 

• Is it clear that environmental impact is seen as an integral part of the business plans going forward

• Does the business demonstrate any key activities, processes or future intentions to highlight a focus on circular economy

• Does the business have metrics or targets for their social and environmental impact activities?

• Has the business aligned their positive impact with any of the UN Sustainable Development Goals

Customer Focus

• Is the target customer base clearly defined? Has the business distinguished customer segments and their specific needs, and outlined the size of the opportunity?

• Is there evidence that the company’s product or service has sufficient customer demand to allow for business growth? 

• Has sufficient customer/market research and validation been undertaken to suggest customers would purchase the company’s offering at the proposed price point?

• Is there clear evidence of engagement with the target customer base? Is the level or stage of engagement clearly stated (sent an email / trials / agreed contract in place)

• Does the applicant have confirmed interest from buyers?  If so, at what stage is this interest and will it lead to confirmed sales?

• If sales have been made to customers, is there any strong customer feedback that can demonstrate value-add of your offering?

• Does the company demonstrate a plan to offer their product/service beyond a localised market? 

• Does the business see Scotland or an export market as the strongest customer base going forward?

• Does the business leader understand the best marketing strategy to reach the key customer base?  Has the business selected the appropriate marketing channels?

Business Growth

• Does the business leader clearly articulate their business growth strategy and outline clearly how the 1st year projected turnover will be achieved and provide realistic plans for growth over the coming three years?

• Is the business projecting to achieve the minimum level of £200,000 cumulative turnover across the next three years and are the plans for how to achieve this realistic?

• For trading businesses, what level of turnover has been achieved to-date, and is the business on course to achieved current year sales forecast?

• Does the business have a strong Go-To-Market / Commercial Strategy?

• Does the business leader have a clearly defined revenue model for their products and services?

• Does the business leader know the number of product sales needed to grow over the next three years to achieve the projected turnover levels?  Are these numbers realistic and achievable?

• Has the proposed business offering been validated by the target market to evidence how the proposed growth plans are achievable and realistic?

• For pre-trading businesses, is there a realistic assumption of when the product/service will be ready for market?

• For businesses still in the development stage, is there a clear strategy to evidence they can progress towards commercialisation?

• If the business is going through a loss-making stage due to key development activities, is there plans in place to show how the losses will be sustained through the development phase?

• For specialist sector businesses, is there a strong commercial strategy and a realistic timescale of when they will have a market ready proposition?

• Is there a clear understanding around the cost of sales – product development, manufacturing, distribution, marketing etc

• Does the business have the plans and relationships in place to ensure a secure product supply chain and have a strategy for effectively managing any proposed manufacturing process?

• For socially-focused businesses, is there a clear business sustainability strategy in place aligned with realistic details of the positive impact the product/service will deliver.

Utilisation of Funding

• Does the proposed Scottish EDGE award spend breakdown relate to the key essential areas to influence business growth?

• Have the proposed spend costings been researched and evidenced as realistic?

• Has the business demonstrated the difference and impact an EDGE award would have on their entrepreneurial journey?

• Will the proposed spend plans have an overall impact on Scotland’s economy?

• Is it clear how the business has been funded to date?

• Is there a clear understanding of the full funding required to take the product/service offering to a market-ready stage?   

• Is further funding (other than via Scottish EDGE) required to achieve the growth set out in the application – if so how is this progressing?

• If an EDGE award is part of a wider fund-raising campaign, has it been clearly articulated as to what specific steps the EDGE award would support?

Scoring Range

• 1 (Poor) - little or no evidence of the criterion being satisfied, and lack of clarity in the information/evidence presented

•  2 (Weak) - some evidence of the criterion being satisfied and some relevant information presented, however insufficient information/evidence is broad and lacking sufficient detail

• 3 (Satisfactory) - adequate evidence of the criterion being satisfied and some information presented appears robust, however some deficiencies exist in the areas assessed

•  4 (Good) - clear evidence of the criterion being satisfied and information/evidence presented is coherent, consistent and is justified

•  5 (Excellent) - strong evidence of the criterion being satisfied and information/evidence presented is of a very high level: coherent, consistent, justified, but also demonstrating advanced development or comprehensive strength