The Idea Assessment Canvas is a tool used to evaluate and prioritize ideas for addressing challenges. It has three business categories - People, Technology, and Infrastructure - and three columns to assess an idea's contribution - Fundamental, Substantial, and Incremental. Ideas are plotted based on their estimated impact and feasibility, with high impact/high feasibility ideas in the top right as most promising solutions. The canvas helps sort ideas and focus on those with the greatest potential to meaningfully address the identified challenge.