An idea in innovation for business or innovation for societal change shall be evaluated based on the following, the relative weightage of which could be suitably decided by DISC
Value of the solution
Market potential or social worth
The indicators for each evaluation criteria shall be as follows
Usefulness, novelty and non-obviousness
a) Assess whether the idea is useful.
How useful is the idea based on its characteristics?
The extent to which the utility is specific, substantial and credible.
b) Assess the novelty of the idea.
Idea must be new, not previously known or used by others, based on literature survey, product information and IPR
c) Assess Non-obviousness of the idea
Idea is different from the usual practice, that a person having normal skill in the related area, would not find it obvious to make the change otherwise
Value of the solution
a) Real measurable consequence of inaction on the problem
Is the problem unworkable?
b) Implication of non-fixing the problem- the mandate not addressed
Is fixing the problem unavoidable?
c) Consequence of a delay in addressing the problem
Is solving the problem urgent?
d) Conspicuous absence of other valid solutions to the problem
Is solving the problem underserved?
a) Will the product or service satisfy as market need?
– Who are the customers and where can they be found?
– What completion is there? Direct/Indirect/International
– How distinct is the product from what is offered by the competitors?
b) Can the product stand test of changing trends or take advantage before it dies out?
c) Does the law of land allow the business to be established?
d) At what prices are customers prepared to buy the product?
e) Can the innovator make a profit?
Additional indicators for evaluating ideas for societal advancement
a) An idea shall be included in the category of STEM Innovation for Societal Advancement if
– it targets a social process.
– it creates positive value of being good or better than what it replaces.
– it promotes a bottom up or civic centered solution where bureaucratic planning or market process fails.
– it promotes a solution addressing a global challenge humanity is facing.
– it pertains to public service delivery of a common social good
– it addresses a need of the marginalized, downtrodden or deprived.
– it helps resolve a conflict or strife.
Social worth of the idea can be estimated by the following indicators
a) Does it result in one or more of the following?
– An organizational change
– Create a social support system accompanying a material innovation
– Political interventions triggered by a large-scale reform
– Create novel patterns of need fulfillment
– Create novel lifestyles often adaptation of material and societal challenges.
b) What is the extent of impact?