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Financial Empowerment Challenge Evaluation Criteria

How did we select which ideas would move into the Refinement phase? What will guide the process of choosing Top Ideas from the challenge?

These are the evaluation criteria the  expert Advisory Panel, the OpenIDEO Team, and the CO-OP Financial Services team is using to make these (very challenging!) decisions. 

Idea Approach

This category focuses on the methods and approach that the idea owners (and their teams) have taken to develop their ideas. 

  • Human-centered: Who are they designing their idea for? If they’ve explored building empathy by deeply understanding the needs of those who will use the proposed solution, that’s great – and if they’ve developed prototypes to collect feedback on their idea from the people they’re designing for, even better.

  • Collaborative: Have they been working with other OpenIDEO community members to test or improve their idea? Have they responded to feedback? The more they’ve shown they learn from collaborating, the more potential their idea has to develop in the Refinement phase and after the challenge ends. 

Idea Features

This category is about the idea itself – if it solves the real problem we're trying to address, and does so in a way that hasn't been done before.

  • Community-centered: Our challenge question acknowledges the role of communities in promoting financial empowerment. Does the solution leverage existing community structures, systems, values or approaches?

  • Unique: Does the idea reimagine financial empowerment with a fresh approach? Was it inspired by what's working in other sectors? We're excited about ideas that apply game-changing new thinking.

Potential for Success

The last category is all about the future. We need ideas that will change the world!

  • Vision for success: Is there a clear understanding of what success looks like for the idea or how it might be measured? The clearer this vision, the stronger their prototyping and solution will be.

  • Potential for impact: Does the idea have the potential to meet pressing needs and improve the lives of real people? As always on OpenIDEO, our mission is to create meaningful social impact.