Details

This information is optional.

Company Name:

Commencement Date:


Completed by:

Position:

Email address:

 

1. Technology

Has the company generated and maintained a complete 'Technology balance sheet" that is adequate to develop the product and specifies the information listed below?

  • Industry and de facto standards that the business must "track" or advance
  • The company's own standards or ways of doing things
  • Patentable or unique processes, including design, that are the basis for the firm's future
  • Plan, with schedule and resources
  • Engineering and manufacturing specifications
  • Chief technology officer
  • Technical Team
  • People (including consultants) who embody the technology
  • Computer resources, and network environment
  • Ability to acquire future technology
  • Operational management control

Yes No

 

2. Can the team show how all the technology will come together to force a product that will be not only unique but also self-sustaining (ie capable of evolving into future generations)?

Yes No

Does a product development plan, specifying resources and schedule, exist?

Yes No

Have risks been clearly identified and factored into the product development plan?

Yes No

Does the chief technical officer have the capability and stature to hire, lead, and manage a high performance technical group?

Yes No

2. Manufacturing

Does the company have a well-defined organization and processes that will enable it to produce products at the cost, quality, and schedules required by its customers?

Yes No

Does the company have a manufacturing strategy, including the degree of integration (ie. which components or assemblies it will buy and which it will build), plant location, critical processes, specialized components and quality control?

Yes No

If a strategic manufacturing partner is required, have candidates and contacts been identified?

Yes No

Will contract and/or offshore manufacturing capability be required in order for the business to produce effectively in terms of quality and cost? If the company intends to do its own manufacturing, have the plant size and factory location been figured into the plan?

Yes No

Does the company manage its raw materials and finished goods inventories in an optimal fashion?

Yes No

3. Product

Has the company translated its technology uniqueness into a relatively concrete product concept?

Yes No

Is it self-sustaining - i.e., does it provide for the evolution of future generations or multiple lines of the product?

Yes No

Have goals been formulated for product cost as well as quality and compatibility?

Yes No

Does a product definition or functional specification exist of the product being designed?

Yes No

Does a data sheet exist that spells out the planned features, functions, and benefits?

Yes No

4. Business Plan

Does the company have a formal Business Plan?

Yes No

Does the Business Plan's contain the following elements:

  1. Statement of the proposed company's vision, mission, and business
  2. Product concept (what the product is)
  3. Rationale (why people will buy)
  4. Technological uniqueness that will sustain the firm beyond the initial product
  5. Gross estimates of the target market (who will buy)
  6. Simple ‘market map' (how the product will be sold)
  7. Operating Plan with objectives and milestones
  8. Financial plan and details of company ownership
  9. Description of the firm's people and operating philosophy
  10. Key milestones in product development and company growth

Yes No

Does the company have a formal Financial Plan that includes:

  1. The strategy and timing of present and additional funding rounds
  2. The types of backers being sought
  3. A position statement about its intended method of financing
  4. An outline schedule of the financing requirements for the first five years

Yes No

Does the plan clearly demonstrate that the company is sustainable?

Yes No

Does the plan refer to a detailed plan for the next stage of development including a list of objectives, a schedule with milestones, and allocations of the required financial and human resources and external risks?

Yes No

5. Marketing

Does the company have a formal marketing plan?

Yes No

Has a compelling buying rationale (i.e., why) been identified for each of the customer groups (i.e. who) to purchase the product?

Yes No

Has a product requirements specification been written?

Yes No

Does the person responsible for marketing have experience in successfully marketing these sort of products/services? Can he or she attract, lead, and manage a "grade A" marketing staff?

Yes No

Does the market plan outline include the following components?

  1. An estimate of the market size, supported by articles and extrapolated market numbers as well as other public information Preliminary corporate and product-positioning platform or statement with competitive market environment.
  2. Descriptive customer/application profiles of key market
  3. Product specification (features and functions), which has been translated into potential benefits for users areas
  4. Global targets of opportunity
  5. Gross estimates of the target market (who will buy)
  6. Market map refined with an outline of requirements for selected paths to market
  7. Global tactics to reach the market, including advertising, PR, trade shows and seminars, etc.
  8. A detailed budget.

Yes No

6. Sales

Does the business have an initial outline of channel-of-distribution alternatives, their typical requirements (e.g. selling cycle, cost of sale, and a well-developed blueprint of the typical sale, from end to end?

Yes No

Has the business developed a formal sales plan - including distribution channels, organization, and "model" cost-and verified it against similar products?

Yes No

Has the company secured or identified sales-management candidates with the appropriate experience who will sign up to meet the sales-cost and sales-productivity model contained in the business plan?

Yes No

Does a Sales Plan exist?

Yes No

Is the Sales Plan linked to the Financial Plan, with assumptions well defined?

Yes No

7. CEO

Does the CEO candidate possess the levels of intelligence, energy, ethics and quality that are required to establish the clock and culture for the proposed company?

Yes No

Can the CEO articulate and sell the company vision to attract the financing, engineering, and other key talent needed for the next stage of growth as well as negotiating strategic alliances and lining up co-development partners?

Yes No

Does the CEO have extensive experience in management?

Yes No

Has he or she demonstrated competence in product development, marketing, and sales by adhering to the principal objectives of the seed plan?

Yes No

Has the CEO been successful in attracting financing, recruiting and leading key employees and finding directors for the board?

Yes No

8. Team

Are the core leaders for the technology development, product development, critical-process manufacturing and marketing functions on board and working as an experienced, integrated team?

Yes No

Is there evidence that they can function productively as a team?

Yes No

Does the team's orientation reflect an appropriate balance between "doing" and “managing” that results in an action-oriented culture?

Yes No

Do the reputations of the core team serve to attract a first-rate engineering team along with the critical marketing resources necessary to achieve the key objectives of the next stage of growth?

Yes No

Has hiring criteria been established with a systematic recruitment method in place?

Yes No

9. Board

Is a formal Board in place?

Yes No

Does the Board meet formally each month?

Yes No

Does the Board represent a balance between Executive and Non-executive Directors with expertise in the key strategic areas outlined in the business plan?

Yes No

Does the Board include members who have appropriate operational experience related to product and market development in addition to the investor-representatives?

Yes No

Is a technology and/or customer advisory board in place?

Yes No

10. Cash

Do the founders have sufficient personal time and cash to be able to shift the business plan to the next stage?

Yes No

Have the founders obtained the cash to sufficiently execute the plan to date?

Yes No

Has prior funding been sufficient to enable the company to meet its objectives and milestones to date?

Yes No

Does the company still have enough cash on hand to sustain itself for a period of up to three to six months while it pursues next stage financing?

Yes No

Is the company carrying a large amount of debt?

Yes No

11. Financeability and Control

Are the present plan and people sufficiently compelling to facilitate raising capital for the next stage of growth at the desired price level and also produce a waiting list of additional investors who want to be part of the next round?

Yes No

Has the company gained the support of at least three reputable, known outside individuals-persons whose backing would tend to lend credence to the technology, product, market, and company concept?

Yes No

Are the critical founders prepared to commit to a full-time effort during the next and later stages of growth?

Yes No

Have the formal business plan proved salable up to now?

Yes No

Are there an excess of investors have signed up to provide financing for the next stage at the sought-after price, resulting in an over-commitment of funds?

Yes No

12. Control

Has the company been operating according to an overall plan and has that plan has been met and changed only minimally up to now?

Yes No

Have developmental objectives been met without major milestone slips?

Yes No

If milestone slips have occurred, were the backers' expectations managed and recast to their satisfaction such that they are willing to continue investing during the next stage?

Yes No

Does everyone in the company operate according to some formal schedule and Management By Objectives?

Yes No

Is everyone informed about the company via effective staff meetings during which review, direction setting, and problem identification/resolution take place?

Yes No