Evaluation Criteria
All applicants will be evaluated on the basis of qualitative as well as quantitative criteria. The evaluation will be conducted in four stages
Application Stage:
- Check eligibility and exclusion criteria.
Quarter Final Stage:
- Evaluation on the basis of qualitative criteria for all companies and quantitative criteria for SMEs and large companies.
Semi Final Stage:
- Evaluation of all companies on the basis of qualitative and quantitative criteria (except micro-enterprises) as well as an interview with the Technical Committee.
Finals Stage:
- Evaluation based on the results of the previous evaluation rounds as well as a final presentation to the jury panel (in person or via video).
The following qualitative criteria apply to all applicants:
Entrepreneurial spirit
Entrepreneurial ambition and action throughout the entire business focused on overcoming all challenges.
- Vision and ambition for your company within your industry.
- Level of empowerment of employees to act as entrepreneurs.
- Specific challenges faced and ways these were overcome etc.
Strategy
Clear path towards achieving the company’s ambition based on competitive advantage, sound growth and long-term profitability.
- Competitive advantage of your business in your industry.
- Approach to growing your business domestically/internationally.
- Current and planned sources of revenue.
- Management of long-term profitability etc.
Innovation leadership
Pushing the boundaries of products and services in your industry through research, development and innovative practices.
- Encouragement of innovation across your company.
- Redefinition/disruption of established industry practices.
- Innovation as driver of your competitive positioning.
- Patents developed/owned by your company (pending & awarded) etc.
Business responsibility
Ensuring long-term sustainable business practices and giving back to society.
- Inclusion of sustainability and other soft factors in decision-making .
- CSR initiatives of your company and/or employees.
- Encouragement and management of diversity.
- Certifications and application of voluntary standards/frameworks etc.
Internationalization strategy
Moving beyond Bahrain’s domestic market as core part of your company’s DNA.
- International ambitions of your company.
- Success stories of venturing outside of Bahrain.
- Expansion models used (e.g. franchising, own presence, etc.).
- Key challenges in internationalizing from Bahrain and your solutions etc.
The following quantitative criteria apply to SMEs and large companies for all evaluation stages and to startups for semi-finalists
- Revenue growth over the past three years.
- Net Income growth over the past three years.
- Profitability as measured by margin of Net Income over Revenues.
- Productivity as measured by revenues per employee.
- Employee growth over the past three years.
- Share of Bahrainis in the company’s employee base.
- Spending growth on research & development(R&D) over the past three years.
- Intensity of R&D spending measured as share of revenues.
- Spending on training expenditure growth over the past three years.
- Intensity of training spending per employee.
