Something that might scale better is just having a rating out of 5 for each of the different areas e.g. team, progress to date, risk, potential reward, quality of idea etc.
At least it would allow them to focus on specific areas.
Suggestion: when you folks send out that "You were in the top 10% of startups....please re-apply" email, would be great to receive it along with the rejection. Would be a much needed ray of hope at that point :-)
At least it would allow them to focus on specific areas.