Aimed at companies that have been trading for less than one year, this category will have judges looking for innovative business ideas or a clear point of differentiation. Did the organisation identify a gap in the market for something new, or perhaps offer an established product/service with a special twist? The judges will focus on future potential rather than an entrant’s ability to show turnover and profit growth at this early stage. Focusing on the business plan, judges will look at how targets and KPIs have been exceeded and how the vision for growing the business has been executed in terms of turnover, employment and expansion.
If your business is less than one year old but has already achieved something great, we want to hear your story in this category. The first year of a business is an exciting but difficult time. It can be a constant struggle, but it leaves entrepreneurs ready to push forward. We want to reward the business owners who are slugging away on year two and are ready to excel in their third year.
For each entry in the Best New Startup category, judges will compare the extent to which candidates have demonstrated excellence in the following core areas:
- Growth 15 pts
- Innovation 20 pts
- Staff Engagement 15 pts
- Customer Service 15 pts
- Leadership 15 pts
- Ethics 5 pts
- Financial Performance 15 pts
- Total 100 pts
Winner in this category will be awarded with AED 20,000.
Submissions are closed for RAKEZ Business Excellence Awards 2018