“Through our Startup Washington strategy, we recognize the vital role of entrepreneurship and home-grown economic development in long-term prosperity for rural communities and the state as a whole. Supporting expansion of business opportunities in tribal lands is a key priority which emerged from our Tribal-State Economic Development Summit last year, and the Washington Coast Works sustainable small business competition is a great step forward in that action plan.” – Gov. Jay Inslee

“This competition provides entrepreneurs in tribal and rural areas with the chance to turn an idea into a business that will create jobs and economic opportunity. This is an investment in often under-served communities that will pay dividends for years to come on the Olympic Peninsula. I extend my thanks to the Nature Conservancy and its partners for developing the Sustainable Small Business Competition.” – Senator Maria Cantwell

“I applaud the Nature Conservancy and its partners for establishing the Washington Coast Works Sustainable Small Business competition, and am proud to support this initiative to launch innovative entrepreneurial opportunities in our state’s rural and tribal communities,” – Senator Patty Murray

“The Olympic Peninsula is chock-full of budding entrepreneurs looking to improve their communities – the Sustainable Small Enterprise Competition can help provide that extra nudge needed to help them take off. Tribal and rural communities alike will benefit from this terrific opportunity to jump start local employment and catalyze private business innovation in sustainability and conservation. I applaud the Nature Conservancy and the Center for Inclusive Entrepreneurship for taking the lead on bringing this great support system to folks in our area.” – Rep. Derek Kilmer

Washington Coast Works on Facebook

JUDGING

Washington Coast Works Judging Criteria

(You may also download this document here: Coast Works Judging Criteria)

For each criteria list below, you will receive a score of 0 to 5 points based on the following scale:

0 = Criteria not addressed.

1 = Criteria is addressed in a way that is not clear or relevant.

2 = Criteria is clearly addressed, but the underlying assumptions are not clearly identified and explained.

3 = Criteria is clearly addressed and the underlying assumptions are clearly identified and explained, but there is not a clear explanation of how the assumptions have been or will be validated.

4 = Criteria is clearly addressed, the underlying assumptions are clearly identified and explained, and there is a clear explanation of how the assumptions have been or will be validated, but most of the key assumptions have not yet been validated.

5 =Criteria is clearly addressed, the response clearly identifies the underlying assumptions, there is a clear explanation of how the assumptions have been or will be validated, and most of the key assumptions have been validated.

Part 1: Business Model (Total = 25 Points)

You describe your unique value proposition (i.e., the problem you are solving, your product/service and how your product/service offers a unique solution) and the steps you’ve taken or plan to take (e.g., prototyping) to validate the existence of the problem and that your product/service provides a solution that is unique and valuable.
You describe your market (i.e., your most important customers who most value your product/service and the estimated number of customers in your target market) and the steps you’ve taken or plan to take to validate that the description is accurate.
You describe your marketing strategies (i.e., how you will reach your customers, make them aware of your UVP, and give you feedback) and the steps you’ve taken or plan to take to validate that your proposed strategies make sense.
You describe your revenue model (i.e., how your business makes money, including how you will deliver value to your customers and how they will pay for it) and the steps you’ve taken or plan to take to validate that the model makes sense.
You describe your business operations (e.g., key activities, facilities, partners, vendors, suppliers, personnel, and major costs) and the steps you’ve taken or plan to take to validate that your description is complete and makes sense.

Part 2: Financial Projections (Total = 25 Points)

You provide a preliminary list of startup expenses, and you describe the steps you’ve taken or plan to take to validate that the list is complete and reasonable (i.e., you explain why each cost item is necessary and how you estimated its value).
You provide a preliminary estimate of the overhead costs and, for each sales unit, the cost of goods sold, and you describe the steps you’ve taken or plan to take to validate that the information is complete and reasonable (i.e., you explain why each cost item is necessary and how you estimated its value).
You provide a preliminary 12-month sales forecast, including a description of your proposed sales units, proposed sales unit pricing, and estimated sales per month, and you describe the steps you’ve taken or plan to take to validate that the information is complete and reasonable (i.e., you explain why you think the proposed pricing and projected sales volume makes sense).
You provide a preliminary 12-month cash flow projection that demonstrates how much money will be needed to cover startup and cash flow to break even, including a clear description of when the business will break even, and the steps you’ve taken or plan to take to validate that the projected cash flow will be sufficient.
You describe how you will use the prize money, and the steps you’ve taken or plan to take to validate that this will move your business forward (i.e., you explain why you think this is the most important way to use these funds).

Part 3: Sustainability (Total = 50 Points)

You describe how the business will contribute to conservation of local natural resources and thesteps you’ve taken or plan to take to validate that the business will actually produce this impact.
You describe your goals for the conservation impact and the steps you’ve taken or plan to take to validate that these goals are reasonable.
You describe how you will measure the conservation impact and the steps you’ve taken or plan to take to validate that the measurement system is feasible and appropriate.
You describe how the business revenue will stay in the local economy and the steps you’ve taken or plan to take to validate that the business will actually produce this impact.
You describe your goals for the local economy impact and the steps you’ve taken or plan to take to validate that these goals are reasonable.
You describe how you will measure the local economy impact and the steps you’ve taken or plan to take to validate that the measurement system is feasible and appropriate.
You describe how the business will contribute to the development of leadership and self- determination in your community and the steps you’ve taken or plan to take to validate that the business will actually produce this impact.
You describe the goals for the leadership impact and the steps you’ve taken or plan to take to validate that these goals are reasonable.
You describe how you will measure the leadership impact and the steps you’ve taken or plan to take to validate that the measurement system is feasible and appropriate.
You describe how the conservation, local economy and leadership impact impacts grow as the business grows and the steps you’ve take or plan to take to validate this.

You may also download this document here: Coast Works Judging Criteria.