Small Business of the Year
Submission Guidelines
To qualify, nominations must:
- Be submitted by an officer of the business nominated;
- Be for a business that has been established for 5 years or more;
- Include a description of the business, not to exceed 500 words, that describes the business and the business of the firm, include R&D activities, products and services;
- Include a summary of the strengths of the business;
- Provide quantitative metrics to illustrate growth;
- May include client testimonials;
- Include a completed release statement;
- Be received by the deadline.
Security and Confidentiality
Access to submissions will be on a "need to know basis", however submitters should be aware there is no facility to handle data from Official Use Only, and higher categories at the national, NATO and other levels, and draft their submissions accordingly. (All submissions will be destroyed within 1 month of the final awards). Submitters should identify data that has "commercial sensitivity".
Evaluation Criteria
For this award, the criteria are centered on innovation, growth and impact.
Innovation
Innovation and the development of unique products and services are attributes that mark outstanding small businesses. Submissions with evidence of innovation will be weighted higher.
Growth and Potential
Business exhibiting year over year growth over the last three years will be weighted higher. Key indicators such as year over year growth of employees, product lines, revenue, and client base can provide a snapshot illustrating that growth. Infusions of venture capital can be a proxy for both growth and potential.
Impact
Businesses that can demonstrate an impact on the military S&T community and their local community will be rated higher.
Impact on the S&T community can be demonstrated through outcomes such as technical evolution, client benefits, and collaborations and partnerships.
Impact on the local community can be demonstrated by the outcomes of actions such as supporting education and STEM (science, technology, engineering and math) initiatives.
Making a Submission
Who may nominate for an award?
An officer of the small business, as define above, may submit a submission for the Small Business of the Year.
All submissions must be made using the online form HERE.
The awards submission period runs from Tuesday 31st May 2022 until Thursday 21st July 2022 (5pm US EDT/9pm UTC). No entries can be made before or after these dates. Evaluation will commence after entries close.
Please see below for more details about what information will be required in the online nomination form:
Confirm the business is a non-subsidiary, independent firm that employs fewer than 50 employees as of 1 January 2022, and has been established for 5 years or more.
Business Overview: Give an overview in this section, not to exceed 500 words. State when the firm was founded and the current number of full-time employees (not to exceed 50). Describe the business, the products and services, and the market(s) targeted by the company. State what makes your business different from the others competing in the same area(s). Address the strengths of your business. You may include a link to supplementary information, but you should consider the overview as a standalone description.
Innovation: Innovation and the development of unique products and services are attributes that mark outstanding small businesses. Products or processes, and services, and supporting R&D activity that differentiate them from the crowd will be awarded a 5. On the other hand, submissions that indicate less innovation will be awarded decreasing point totals - ultimately to 0 for no innovation.
Growth and Potential: Use the appropriate metrics to demonstrate growth during the recent 3 years. Percentage growth year over year is an appropriate measure. Describe employee growth as a year over year growth rate, starting when the business reached 10 employees or later. Other metrics may be used such as revenue and market share growth year over year. Any infusions of venture capital will weight the ratings higher. Submissions demonstrating 20% or more year over year growth over the last three years will be awarded a 5; for 10% a 3; and for less than 10% rated accordingly.
Impact: Describe the impact your company is making on the military S&T community and your local community in this section. Be specific. S&T Community - Little or no evidence of impact on the S&T community as evidenced by outcomes such as technical evolution, client benefits, diversity enhancement, and collaborations and partnerships will be awarded a 0. Local Community - A continuous outstanding contribution to the community (STEM and other efforts) will be rated a 5. If the firm does not appear to play a role in the local community a 0 will be awarded.
Testimonials: You may include up to 2 testimonials from clients. Include their contact information. The presence of a relevant testimonial will be awarded 1 point.