Explore the wisdom below to help with your application!
#1 PROBLEM Try and distill your customer’s problem down to its simplest form.
#2 SOLUTION Explain exactly what your product or service is.
#3 MARKET OPPORTUNITY Explain exactly who your target audience is and how you intend to acquire customers.
#4 TEAM Why are you and your partners the right team?
#5 GO-TO-MARKET Describe your competition and exactly what is unique about your product or service.
#6 FINANCIAL MODEL (HOW WILL YOU MAKE MONEY?) What is your revenue model? What kind of expenses will you incur?
#7 PROGRESS TO DATE Talk about what your venture has accomplished, upcoming goals and when you plan to achieve them.
TIP #1 You only have 4 minutes for your pitch. Choose the best way to convey your unique solution in this short period of time.
TIP #2 Turn your pitch into a story.
TIP #3 Be laser focused and wildly enthusiastic.
TIP #4 Practice! Practice! Practice! Practice! Practice! Practice!
TIPS FROM PAST JUDGES
TIP #1 Assign a team member to capture judge feedback and questions.
TIP #2 Spend more time pitching your idea and less time on problem definitions and team introductions.
TIP #3 Focus on the value proposition.
TIP #4 Be prepared and laser focused.
TIP #5 Practice, practice and practice your pitch again!
POSSIBLE JUDGE QUESTIONSThese are examples of questions the judges might ask. Try to think of other questions. Be prepared!What proof is there that this is a real problem?
What proof is there that this is the right solution?
What is your defensibility? (i.e. Why won’t an existing company do this? What can you do it better and/or faster?)
How big is the market? (i.e. How many people can potentially use this solution?)
What will be your phases of product and business development?
How will you monetize and scale?
Why is now the right time to solve the problem?
Why is your team the one who can pull this off?
THE LAST WORD“There is no glory in practice, but without practice, there is no glory.” – Unknown Author