Criteria

Criteria

The Innovation Circle is a select panel of distinguished judges and advisors from around the world, who are at the forefront of innovation. Together with BAI, they will identify potential award nominees, review applications and select the category finalists and winners.

Information and data submitted will be treated with respect and confidentiality by BAI and The Innovation Circle.

Submissions will be assessed on two criteria:

Originality

  • What problem is the innovation trying to solve?
  • Is the innovation new or does it go far beyond marginal improvements to existing products, services, technologies, distribution strategies and practices?
  • Why is this innovation unique? Is it the innovation itself, the results it achieves or the market it serves?
  • What is the specific value to the customer?
  • What is the impact on the submitting organization?

Impact

  • Innovation can be an iterative process, as such, please use any combination of at least three (3) of the following metrics to demonstrate the innovation’s impact. Please include supporting materials:
    • Performance – expected vs. actual performance, including productivity, production, quality, scalable, portable, decreases fraud, risk or inefficiencies
    • Satisfaction – expected vs. actual satisfaction, including increased value to the customer, NPS, customer (internal or external) feedback, customer experience, customer retention, or quality
    • Growth – expected vs. actual growth, including improvement/benefit to the organization, increased adoption, brand, revenue, product portfolio, jobs or marketshare
    • Financial – capital investment vs. actual or projected sales, revenue, or improved balance sheet
    • Time – expected vs. actual breakeven time for new innovation, including ideation, development and production, speed to market, adoption

In addition, we encourage you to share insights into the rationale behind your innovation, your process and internal collaboration, the challenge you are solving, etc. Including these elements in your nomination will bring your innovation to life and strengthen your case as a prospective Award-winner.

Please note that each nomination will be evaluated on the two-dimensional criteria above and weighed equally to identify award finalists.

Submissions for each innovation category must be complete and launched in the market after July 2019. All awards recognize organizations– not specific individuals.

business charts and metrics for analysis