Social Innovation Questions

The big idea/your solution: Describe the service or product, its unique social value benefit.

• A new app that connects volunteers with local charities

• A sustainable packaging solution for e-commerce

• A fitness program tailored for seniors

• An online marketplace for handmade crafts

What social innovation(s) is this venture leveraging? How does this social innovation address the problem or need?

Who is your customer that is in need of your service or product? Is there more than one customer group? (Remember to differentiate between the customer who pays, and the end user of your service or product.)

Who is the present competition and possible new entrants? Consider other solutions that exist and already solve your problem/need.

What is your competitive advantage? Is this advantage sustainable?

• Yes, it is sustainable

• No, it is not sustainable

• We do not have a competitive advantage

• Our advantage is partially sustainable

What are the critical success factors?

• Key performance indicators

• Critical success factors

• Strategic goals

• Operational metrics

What is the appropriate segment of customers?

• Young adults

• Middle-aged professionals

• Senior citizens

• Teenagers

What are your potential sources of revenue and initial funding?

• Equity investment and product sales

• Loans and grants

• Crowdfunding and donations

• All of the above

What are your cash needs for the first year of operations? How can you get there?

• Estimate the total cash required and identify funding sources

• List all expenses without considering funding

• Focus only on revenue generation

• Ignore cash flow projections

What are the current team’s qualifications for executing this plan successfully? (Consider personal connection to mission, background, experience, expertise, network, and advisors.)