Evaluation of the effectiveness of business ideas for innovation at an early stage of development

Moscow state University of technology and management named after K. G. Razumovsky, 109004, 73, Zemlyanoy val, Moscow, Russian Federation

^* Corresponding author: chernick@mail.ru

Abstract

The urgency of evaluating business ideas at the initial formation stage has been substantiated. The main approaches to assessing innovative solutions in high-risk conditions, changing technological, organizational, informational and other factors are considered. An algorithm for creating a system for evaluating business ideas is proposed, including criteria for evaluating them at a qualitative level, and then evaluating them using a point scale. The choice of these criteria is substantiated. It is concluded that it is necessary to determine the weight of each criterion in the system for evaluating business ideas. Taking into account the peculiarities of a number of business ideas and their different effectiveness, the system can be supplemented, and the criteria themselves can be revised and adjusted. It has been established that the scores for each criterion can also be calculated more accurately. It is noted that for a more complete implementation of the proposed algorithm for constructing a model, applied developments will become a further direction of the authors' research. The result will be a universal method for assessing the effectiveness of business ideas, based on the use of the most general criteria for technological development.