The Project Greenlight team has divided evaluation criteria into three investment gates. We summarize them briefly here, and provide more detailed information below.
Assessment 1 is a pre-screening of incoming submissions. This ensures proponents meet minimum eligibility thresholds before the Project Greenlight team shares shortlisted submissions with the member.
Assessment 2 is related to operational risk. At this step, the Project Greenlight team will work with the member to assess a number of go/no-go criteria before proceeding.
Assessment 3 is a more detailed evaluation. It combines information from your proposal with feedback obtained via a dynamic company pitch session. The member will compile this input into a proposal profile, and use it to decide whether to formally launch a project with you.
Assessment 1 is designed to take approximately 30 days from the date of your submission. Assessments 2 and 3 may take up to 90 days total, depending on the complexity of the challenge. Members offering open challenges may choose to evaluate proposals on a rolling basis, or group them into quarterly or biannual reviews. The Project Greenlight team will regularly email applicants with updates on their proposal. All evaluations will be kept strictly confidential.
We encourage applicants to view the evaluation process as an opportunity for coaching, improvement, and development. The process of submitting a proposal and undergoing scrutiny highlights opportunities and creates feedback loops that improves companies and helps their owners understand how best to respond to the needs of large enterprises. Seen in this light, a challenge process is less a win-lose proposition, and more of a journey of refinement towards developing a successful enterprise that powers an innovative technology.
A. Assessment 1
During the Assessment 1 process, the Project Greenlight team will review the proposal for completeness and score it based on the team, technology, and plan. If the team identifies gaps in the proposal, it may send clarifying questions to the proponent.
Following Assessment 1, the team will advise proponents as to whether they can progress to the secondary evaluation, or if their proposal has been rejected. Proponents in the latter category may request feedback from the project team, which will be provided at the team’s discretion. Successful applicants will receive an explainer document outlining the next steps in the process.
B. Assessments 2 and 3
Assessments 2 and 3 involve both the Project Greenlight team and a member evaluation team. Representatives from the member’s administrative (i.e. legal and IT) and technical (i.e. innovation and operations) departments will evaluate submissions against their strategic goals and challenge objectives. The Project Greenlight team will facilitate the evaluation process.
If a proposal interests a member, a representative of the organization may request a one-on-one interview with the proponent, to pitch their solution to the evaluation team. This is generally structured as an online session, with time allocated for a pitch and Q&A. These sessions typically run to 90 minutes. Members may prefer a different assessment format; in such cases the Project Greenlight team will advise proponents of timing and offer guidance on the preferred approach.
Proponents should expect a decision within 30 days of a one-on-one interview, though this may vary from member to member and change depending on the type of call. Successful candidates will move to more in-depth partnership discussions as directed by the member and supported by the project team. The project team will endeavour to provide feedback to finalists whose submission was rejected.