How do I apply?
Applications for McKinsey Venture Academy 2018 are now open!
Submit your application here.
First Round Questions: Applicants will be asked to provide the following for Round One
A 5 sentence executive summary capturing your idea, and answers to the following questions:
- What is the social or environmental need you have identified, and how significant is that opportunity?
- What is your idea and how will your idea meet the need identified above?
- What kind of impact can your idea have and how do you plan on sustaining it?
- How feasible is your idea and why?
- What makes your team especially qualified to address this issue?
- If you won, what would your implementation plan and next steps be?
Note: a max 150 words per answer
What we look for in Round One: Judging Criteria
Understanding the opportunity
- Opportunity & Need: Your team has a clear understanding of the social or environmental need it wants to address and has taken steps to confirm that need or its size.
- Idea / Market Fit: Your team has identified its target customers and can clearly articulate why, as well as how their idea will serve their target customers effectively.
- Competition: Your team has a clear understanding of who is looking to tap into the same opportunity and understand and describe how their offering is unique in the market.
Creating a solution
- Product: Your team has a clear understanding of how they will serve their target customers by appropriately packaging their solution into a product, and taken steps to confirm suitability of their product.
- Social Impact: Your proposed idea is expected to have significant social impact by improving well-being of the people and environment that will be affected by the idea.
- Feasibility: Your team have thoughtfully evaluated the feasibility and costs of the proposed product, barriers to entry, route to market, their ability to capture the opportunity and any need for partnerships.
Making it happen
- People: Your team have the skills, experience and commitment. Your team can communicate its ideas clearly and in a compelling fashion.
- Measurement of Impact: Your team are able to demonstrate a plan for how to measure and evaluate the social impact.
- Implementation: Your team have a clear implementation plan of milestones and deliverables.
Subsequent round details and criteria will be released to successful teams of each round.