To qualify for consideration as a nominee for a 2021 Edison Best New Product™, your innovative product or service must be launched and available to end-users between July 1, 2019 and February 28, 2021.
Building on the heritage of Thomas Edison and the 30+ year history of the Edison Awards, the evaluation criteria ensures that all companies, regardless of industry, domain or innovation type can clearly communicate, affirm and support their nomination.
These evaluation criteria were established to be relevant, comprehensive, well-aligned with the ever-evolving definition of "innovation," transparent for nominees AND clearly defined for our voting bodies. There are no scientific, objective metrics that unambiguously define how companies and concepts rank for each evaluation criteria. We have developed the evaluation criteria and a corresponding set of assessment tools and scales that we believe allow for a fair, honest and equitable assessment of each entry. All entries will be judged on the four Edison Award criteria: Concept, Value, Delivery and Impact.
Opportunity, conception, method, and development
In the true spirit of Thomas Edison, we are looking for innovations that not only address a need and solve a problem but also seize an opportunity and create a new market or industry. And true to Edison's work, we are interested in the overall method and development of the concept and opportunity. We would like to understand how discovery, collaboration, iteration, prototyping, etc. contributed to the conception and development of the innovation as it progressed from genesis to design and implementation.
Need/desire, differentiation, cost, and advantage
For Edison, value was a primary driver for his innovations. We would like to understand how the innovation satisfies an existing need or desire or creates a new need that is not currently available in the market. We are seeking evidence for how the offering is different and whether it has distinct, game changing advantages over any alternatives. We also want to evaluate its unique value proposition, the relationship between its cost and benefits and its economic desirability
Message, engagement, availability, and achievement
Edison was not only an accomplished innovator but also a great communicator, marketer and master of delivery. We would like to understand how the message and broader story of the innovation is communicated in clear and compelling ways. We are looking for interesting examples of how consumers have been engaged and how the offering has been delivered and made available to the marketplace. Finally, we are interested in how the value proposition of the offering is being achieved, fulfilled and validated in the marketplace.
Sustainability, social responsibility, and potential
Edison devoutly believed that real innovation not only demonstrated commercial success but also sustained sensitivity to broader implications. We would like to understand the immediate and longer term impact the innovation has on the environment and society as a whole. We are also interested in how the offering may establish a vision or be the basis of a larger system or platform of innovations and how it might be an inspiration to future innovation and innovators.
All completed nominations will be reviewed by the members of the Edison Awards Steering Committee as well as an ad hoc panel of professionals, all of whom are senior executives with diverse marketing, scientific and business backgrounds who are recognized experts in their fields. Upon conclusion of this primary review process, a ballot of Finalists is prepared.
Our Panel of Judges, which is comprised of more than 3,000 senior business executives and academics, review the ballot of Finalists and choose the Gold, Silver and Bronze Edison Best New Product™ winners, acknowledging the Finalists' excellence in meeting the award criteria of Concept, Value, Delivery and Impact. The Panel includes hundreds of past Edison Award winners as well as marketing professionals, scientists, engineers and academics.
The distinctive nominations process provides an unbiased 3rd-party review. Innovations advancing to Finalists status have been determined to be of superior quality — a confirmation that can reach customers in a way that marketing and advertising cannot. Non-finalists and can request feedback on how to make their marketing message or innovation stronger. Winners will be announced in Spring 2020. See our Process/Timeline for more information about the schedule and benefits.
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