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Evaluation criteria

Novus Sport will develop an internal assessment of the project's potential, risk and likelihood for securing funding. Based on this assessment Novus Sport will begin investing time and capabilities to help advance the very best ideas to the point of securing an initial round of funding and launch of the concept or venture. Novus Sport is interested in working with for-profit and not-for-profit concepts or ventures. Novus Sport has experience in pursuing funding from a range of sources, which include the federal government, foundations and private investors, e.g., venture capital. Novus Sport will make its assessment based on the following criteria (this list is general in nature and may not be inclusive of all considerations factored into the assessment. Concepts or ventures need not meet all the criteria in order to produce a positive assessment):

Large Market Size – how many people are positively impacted by the idea, how many customers may be willing to buy the product or service, how big is the market?

High Market Impact – how big and what is the nature of the market impact, e.g., “our idea will help people avoid tennis elbow” versus “our idea cures cancer”?

Self Sustainability – whether for-profit or not-for-profit, is there a mechanism or strategy whereby the concept or venture could generate “revenue” at a minimum to cover its operating costs after an initial round of start-up funding?

Intellectual Property – is there science or technology that can be legally protected?

Experience and Credibility – does the organization or individual championing the idea have relevant content experience and knowledge relative to the opportunity and passion for the concept?

Verifiability – can the market need/opportunity and the science or technology be validated by a peer group?