Judging Criteria

Criteria
  1. All judges will receive and review all information submitted in connection with each application to the Competition.
  2. The judges will rely on the following criteria in judging the Competition:
    • The commercial potential of the business, with high-potential, growth oriented businesses likely to be viewed more favorably.
    • The innovative nature and technical feasibility of the idea.
    • The likelihood that the business described in the plan can achieve a sustainable, competitive advantage.
    • The credibility of the individuals behind the proposal.
  3. All plans will be treated the same way and judging criteria will be applied equally to all plans.
  4. The judges may disqualify any application they believe violates the letter or spirit of the Competition guidelines.
  5. The judges will not sign a Non-Disclosure Agreement (NDA) in connection with performing their duties for the Competition. It is the applicants’ responsibility to protect their intellectual property. See Protection of Intellectual Property section on our resources page.
  6. Conflict of Interest Policy: Judges agree not to initiate a professional relationship with individuals who have an active application before the Competition. Judges will recuse themselves from discussion about and voting on an applicant to the Competition if the judge has an existing personal or business relationship with the applicant. An application is considered active until the judges have made a decision about it or until it has been withdrawn by the applicant.
  7. The decision of the judges is final, including interpretation of the rules.

Learn about previous Rhode Island Business Competition winners.

What Judges Look For In a Business Plan

What Judges Look for in a Business Plan

All good business plans convey a sound business idea. The actual written plan can do a lot to help you secure financing, because, when well done, it demonstrates that you have considered the relevant key variables that are important to the success of the idea.

Judges in the Rhode Island Business Competition will be looking for the following:

Viability Is the opportunity reasonable and supported by a sound execution strategy?
Realism Have the assumptions behind the plan been tested in the
market to determine the need for the solution being proposed? Does the
plan allow for contingencies?
Competitiveness Have you identified competitors and enumerated your
competitive advantages? Can the business successfully resist competitive
pressures?
Maturity Do the plan authors understand the nature of the
business they are proposing, and are their assumptions, projections, and
solutions realistic?
Experience Does the applicant have a management team, or can it
assemble one, that has the breadth and depth of experience required to
make the plan a success?
Dedication How has the team evidenced the tenacity required to launch and grow a business?

In addition to the above, attention to the following nuts and bolts will help:

Writing style Write for the educated, intelligent layman and avoid jargon. Include a glossary, if needed, for easy reference.
Graphics Graphics should help tell a story. Use them where they make sense.
Edit and re-edit Before submitting your plan, run it by people who will
give you an honest assessment — about your idea and how it is presented.
Typos, misspellings, and grammatical errors should be avoided at all
costs.

Read more on preparing your written plan.

Judging Schedule

To participate in the Rhode Island Business Competition, applicants must complete and submit an online application by 5 p.m. Eastern time on March 29, 2021.

After reviewing the applications, the judges will select semi-finalists and invite them to submit complete business plans by 12 noon on April 13, 2021.

Semi-finalists will be invited to make a 5-minute presentation to the judges on April 20, 2021.

Finalists will be selected from semi-finalists and invited to a 25-minute meeting with the judges on April 27, 2021.

See recommended guidelines for formatting business plans.

2021 Judges

Kim Anderson

Socially Responsible Entrepreneur; Impact Investor; Owner, Plant City

Kim Anderson

Kim has been a successful retailer and business leader for more than 30 years, starting in the management and buying departments of Jordan Marsh and Macy’s. She is former owner of the home store Teapots & Tassels, Co., where she was awarded “Entrepreneur of the Year” in 1991 by SBA and “Citizen of the Year Award” in 2005 for her Hurricane Katrina relief efforts by Chamber of Commerce. In 2010 she co-founded, with her 15-year-old daughter, Ava Anderson Non Toxic, the safest full line of personal care and home cleaning products, sold via direct sales. With the support of 20,000 independent sales representatives, the business educated millions of American families about the dangers of harmful chemicals in conventional products for humans and the environment. In 6 years it reached a $60M run rate, was honored by Inc. Magazine, Fortune and Entrepreneur, and was acquired in August 2016. Kim is a board member of Social Enterprise Greenhouse.

Bob Chatham

Director, Slater Technology Fund

Bob Chatham

Bob has been a founder or early employee of nine technology companies, four of which have gone public or been acquired (he learned a lot from the other five). His sales and marketing experience in growing technology companies began at Bolt Beranek and Newman (BBN), where he worked on software for R&D, clinical trials, and parallel computing, followed by startups in software tools; financial services (Andera, which was acquired by Bottomline Technologies NASDAQ: EPAY); online advertising and analytics (Visual Sciences NASDAQ: VSCN, acquired by Adobe); and energy (VCharge, acquired by OVO Energy). Bob also served as an industry analyst at Forrester Research, where he covered sales and marketing software and customer experience, authoring over 250 pieces and advising Fortune 500 companies. He was chief marketing officer at four of his firms and loves a good data set, regularly diving into Excel on behalf of prospective Slater portfolio companies. Bob grew up in Europe, Africa, and Asia, and earned a B.A. in Computer Science from Colgate University.

Peggy Farrell

Partner, Hinckley Allen

Peggy focuses her practice in the area of corporate and securities law with extensive experience in organization, acquisitions, sales, mergers, recapitalizations and other reorganizations of both publicly and privately-held corporations, partnerships and limited liabilities companies, and in personal and business tax planning. She has extensive experience in handling equity and debt securities offerings, both fully registered public offerings and exempt private placements and venture capital financings, ongoing SEC regulatory compliance and reporting, and investment company, investment adviser and broker-dealer registration and regulation. Peggy has in-depth knowledge of financial institution regulation and has experience in computer and other high technology law, including software licensing and copyright and trademark protection.

Katharine Flynn

Executive Director, University of Rhode Island Business Engagement Center

Katharine was named to lead the URI Business Engagement Center in 2013 while continuing to serve as executive director of corporate and foundation relations for the University of Rhode Island. She also spends part of her time working for the Governor of Rhode Island's Executive Office of Commerce. Before joining URI in 2012, she was director of business development for the Rhode Island Economic Development Corporation for eight years. Katharine has extensive experience evaluating and coaching emerging businesses and has been actively involved with the RI Business Plan Competition for nearly 10 years. She earned a bachelor's degree in mathematical economics from Brown University.

David Hirsch

Partner, Hinckley Allen

David Hirsch

David focuses his practice in general corporate law, with dedicated emphases in mergers and acquisitions, corporate finance, commercial lending and securities law. As a trusted advisor, David advises clients on matters ranging from everyday corporate governance and operational questions to strategic expansion and sophisticated financings. Additionally, he serves as bond counsel, borrower’s counsel and bank counsel on a broad array of tax-exempt financing transactions. David represents companies in all stages of business, including emerging and developing companies, established private middle-market businesses, and publicly held companies.

Todd Knapp

CEO, Envision Technology Advisors

Todd Knapp

Todd has been providing IT services nationally for over 20 years and draws inspiration and insight from participation in a wide range of executive boards and industry associations. He has an extensive background in strategic planning and implementation of business technology solutions, and is the founder of his firm Envision Technology Advisors. As a presenter, Todd speaks throughout the country on a variety of technology and business topics including digital transformation, cybersecurity, leveraging the data economy, and integrating user psychology into IT strategic planning and services. He founded his firm in 1998, and today enjoys engaging with his team on technology transformation projects representing almost every business vertical. In his free time, Todd works with several non-profits. He is a board member for RI Public Radio, and volunteers for organizations including The Groden Center, American Red Cross, RI Foster Forward, and the Rutland Rescue Mission.

Anthony Mangiarelli

Partner, KLR

With more than 15 years of public accounting experience, Anthony has worked with clients in a variety of industries, including manufacturing, professional services, distribution, and employee benefit plans and chair’s KLR’s Emerging and Start Up Business Services Group. Named to the Providence Business News 2011 class of “Forty under 40,” he frequently speaks at business forums across southern New England, Anthony is a member of Betaspring and the Cambridge Innovation Center, and serves on the United Way of Rhode Island Finance Committee and as an advisory board member of Community College of Rhode Island. He earned a Bachelor of Science degree in accounting and a Master of Science in Taxation degree, both from Bryant University.

Jennifer Rousseau

Director of Strategic Planning for New Ventures, Altus Dental

Jennifer Rousseau

Jennifer is the Director of Strategic Planning for New Ventures at Altus Dental and manages the corporate venture initiatives for the company and its sister companies through their fund, Altus Ventures. In addition to her role with Altus, she is responsible for strategic planning for Chewsi, the free dental app that helps patients realize significant savings from a participating dentist. She analyzes emerging industry trends and recommends expansion opportunities, partnerships, and business process improvement.

Lydia Shin Schroter

Managing Director, New England Medical Innovation Center (NEMIC)

Lydia Shin Schroter

Lydia is a co-founder and managing partner at NEMIC. A serial entrepreneur, she co-founded Galaxy Power Inc, which was acquired by Bell Fuse. Lydia is an active angel investor focusing on early stage MedTech and high-growth startups. She is a member of Mass Medical Angels and Cherrystone Angel group. She has an active portfolio and has served as a director or advisor with the companies within her portfolio and to several international startups in med tech and high-tech sectors. Lydia has participated in many panel discussions and presentations both in USA and overseas. Lydia has held teaching positions at Brandeis and Yonsei University (Korea) on entrepreneurship and financial strategy. She holds an MBA and CPA certificate.

Annette Tonti

Managing Director, RIHub

Annette Tonti

Annette is Managing Director of RIHub, Rhode Island’s Innovation Hub. Over the past 20 years she has founded 3 high-tech startups and raised over $30M from Venture and Angels in our region. She is a pioneer in the online advertising and mobile markets. Early in her career she worked with Fortune 1000 businesses, ran a global program for the MIT Media Labs and headed up operations for a global telecommunications consultancy. She is a recognized leader at the intersection of technology and business model possibilities. Her strengths include customer growth, online advertising and marketing, leveraging emerging technology for new product development, and Software as a Service (SaaS) innovations.

Zachary Weinberger

Partner, Sprout CoWorking