How we chose the winners
Here's how we selected the top startups in our fourth annual student business plan contest.
(FSB) -- FIRST ROUND: FSB editors selected the top 12 business plans based on strength of the management team (30%), viability of business plan (30%), thoroughness of the plan (20%) and newsworthiness of the business concept highlighted in the plan (20%).
SECOND ROUND: The judges chose the top three plans based on strength of the management team (40%), viability of the business plan (40%), and thoroughness of the plan (20%).
SHOWDOWN: One student from each of the three teams had to deliver a three-minute elevator pitch and answer two surprise questions on its plan, submitted by the opposing team. Students had five minutes to respond to each one. The judges scored each team based on the credibility of the answers (40%), their clarity (40%) and the presentation skills of the team representative (20%).
FINAL JUDGING: The total for each team's scores for the two rounds of the contest and the Showdown accounted for one-third of the final score. The remaining two thirds of the score were based on the overall quality of the team's plan (50%) and ability to execute it (50%).click here.