I had the honor of judging four runner-up teams in Track 2 at the Sunstone Innovation Challenge at CSU Long Beach. Together with three other judges, we reviewed business plans and live pitches.
The four teams presented ideas and shared insights on product-market fit (PMF), market size (TAM, SAM, SOM), and go-to-market strategies across channels. They also laid out pre-launch timelines and key metrics to measure success.
Our judging rubric covered from market opportunity and business model to market validation and team structure. Each judge brought a unique perspective, focusing on aspects such as the scalability and/or financial strength of the business model.
I observed that understanding materials and experience with prototyping were critical when teams developed product concepts, and a deep understanding of customer needs was essential when generating service concepts.
Ultimately, the team, “Rise and UnWind,” was finalized with its clever idea of a coffee shop by day and speakeasy by night, supported by the team’s experience in the F&B industry.
