THE FIRST STAGE ASSESSMENT
THE STARTING POINT FOR ANY NEW IDEA
The FSA documents the idea as seen by the Entrepreneur
It requires the Entrepreneur to acknowledge 580 questions
what is (and most importantly)
what is not known
details the purpose and novel features of the idea
identifies the Entrepreneur’s expectations
quantifies and details the amount of work done
The System Scores the Entrepreneur’s Submission
The submission is electronically scored against 16 criteria which
cover the expectations, the actual achievement to date and computes
an assessment of business risks from 3 points of view
The 16 criteria are
Demand Distribution Ease
Market Research Distribution Research
Design Features IP Value
Design Research IP Research
Regulatory / Societal Help Needed
Environmental / Society Business Risk – Profit & Sales
Manufacturing Ease Business Risk - Developmental
Manufacturing Research Business Risk – Investment & Marketing
The FSA is built on an education program platform, which builds a ‘knowledge
tree’ with multiple questions under each branch:
The system leads the entrepreneur through a detailed questioning process which requireshim or her
to think clearly about the answers, and is designed to ensured that claims can be substantiated in
important areas such as intellectual property:
The input screens generally invite a combination of multiple-choice and narrative answers, with the
latter being limited to 25 words…if an entrepreneur really understands the idea and the industry, he
or she will have no problems being concise. If the entrepreneur is uncertain, the FSA encourages him
or her to clarify their thoughts:
The FSA goes to some lengths to elicit the entrepreneur’s personal goals in the project, expectations
(i.e. are they reasonable?) and funding capacity:
If the project is presented by a well-established business, the Second Stage Assessment is designed to
elicit more detail as to the nature of the business:
and the impact of the idea on the business:
1. Documents the idea as seen by the Entrepreneur.
2. Looks for the Entrepreneur to justify the claims made.
3. Scores the submission against 16 criteria.
4. Identifies the entrepreneur’s expectations.
5. Computes an assessment of business risk from 3 viewpoints
6. Produces a report which informs and educates.
7. Encourages the progress of good ideas, and identifies any
8. Focusses the entrepreneur on the real issues.
9. Sets the foundation for future development.
10. Clearly identifies GREAT ideas that are ready for investment.
Most importantly, the FSA is the Starting Point of the Discovery Beach System,
which changes the rules of engagement between the entrepreneur and our
investors…by systemising the preparation of million-dollar ideas, our investors
are guided by a standardised approach to project analysis, with the result that
over 80% of projects that successfully pass through the First or Second-Stage
Analysis are funded by the group. Another 10% receive outside funding as a result
of the guidance received by the entrepreneur.
If a satisfactory score is delivered by the FSA, the entrepreneur is invited to an
online meeting with Alan Burrell, the head of our investment group. The third
stage is then a Strategic Review Analysis, following which an offer of funding or
licensing is made.
Discovery Beach is changing the way the world invests in innovation.