As you are very well aware, we are all set for UnPluggd on Sat – 30th of October. We have finished selecting the 10 startups which will present on stage on the day.
There are many of the startups which missed out by a proverbial whisker – and that is an essential part of the game.
Like all quantitative exercises, this one also has its own pros and cons and is intended to put a numerical assessment for this evaluation. This was critical to maintain a neutrality in choosing the final set of startups – and also at the same time make sure that the best of the applicants get on to stage.
As mentioned earlier – all of the applications were judged by a team from Sequoia Capital, team from Catamaran fund and Sanjay Anandram (from Jumpstartup).
So these were some of the criteria (not in any order) we looked at –
- Maturity of the product / offering
- Time since they started up
- Strength of the product idea / Gut feel
- Value to market
- Articulation of market size / scoping
- Team skillsets / past experience
- Understanding of competition
- Financials (and their credibility)
Each of the above had different weights and the evaluators added some of their own metrics and rated them on a scale of 1- 10 (10 being the best).
Once we got the evaluations from each of the evaluators, we collated them, got an affinity exercise and got a ranking based on that.
Here were some of the interesting observations of the rankings –
- 6 out of the top 10 companies were in the top 10 of each of the evaluators
- The top 13 companies were ahead by a good percentage from the rest of the companies
- We had some interesting observations on some of the entries – which we will share with the individual startups.
We had to choose 10 – and it was a hard time paring it down to 9-10 companies.
There is also one point which we (Pratyush and Ashish) would like to make strongly. That is the fact that this is not an indication of a startup’s viability at all. This is an evaluation of solely which startups would be presenting on stage at UnPluggd – and the weights to some of the criteria above would be very different if an investor is looking to invest in your company. So please do not take it as an indicator of the viability / success metrics of your business.
As always we will continue with out motto “We Heart Startups” – and would love to help you out in our capacity as PI editors and individually in whatever way you think fit.
See you on Saturday for the great Indian Startup Oktoberfest!