How do Pitches Work in the Innovation Challenge?
We do three rounds of pitches throughout our competition.
The first pitch is a 5-minute business/idea pitch to qualify for our competition.
You will then pitch again in early March after completing 2 Mentor Saturdays.
There will be up to 4 teams chosen from the Second Round of Pitches.
Those 5 teams will attend the 3rd Mentor Saturday and pitch in the Finals for a chance to win $10,000 and office space.
Suggestions when Preparing for your pitch
Include a slide dedicated to finances: Provide a projection of your primary costs and potential sources of revenue. We understand this may be an inexact science, and it’s okay if you don’t have revenue or detailed cost figures yet - just be prepared to briefly explain the financial side of your business.
Clarify Your Goals for the Challenge: Share what you hope to gain from participating in the Innovation Challenge and how the experience could benefit you and your business.
Plan for Prize Money: Outline how you might allocate $10,000 in prize funding to grow your business or achieve your goals.
Define Your Market: Be ready to explain the market you intend to serve and why your solution meets its needs.
Showcase Your Fit: Explain why you are the right person to tackle the problem your business addresses and why your team is uniquely positioned to succeed.
Questions You Should Ask Yourself
What is the problem that the business/idea addresses?
How does your business/idea solve that problem/make it better?
Identify the market for your business/idea
Who are your customers?
Where are they (are they geographically bound?)
What is the market for your business/idea –
Market size (how much money is out there to be spread around to this idea?)
How much will each customer spend on your business?
How many customers will your business get?
How your business/idea/product will actually work when the customer uses it (how does your business work?)
Where do you make money/generate revenue? Might consider how much does it cost to run your business/idea
Who are you competitors in this space
Who are you? Who is on your team? What skills do you bring?
How could you use the prize money from the innovation challenge?
Resources
10 Steps to Perfect Your Startup Pitch - Startup guru Guy Kawasaki explains why asking investors for money is like online dating. Click Here To Read
12 Easy Steps to a Perfect Pitch - Whether you're presenting to potential investors, clients or customers, ace your next pitch with these 12 tips. Click Here To Read
How to Deliver the Perfect Business Pitch: 8 Tips Inspired by 'Shark Tank' Click Here To Read
How to Pitch: 18 Steps to Create and Deliver a Winning Pitch for Investors and Early Customers Click Here To Read
How to give the perfect pitch - with TedX speech coach David Beckett - Young Creators Summit 2016 Click Here To Watch
13 Tips on How to Deliver a Pitch Investors Simply Can't Turn Down - Hint: Practice your pitch. And then practice it again. And again. Click Here To Read
Mastering the Pitch with Nicole Glaros Click Here To Watch
How To Create A Great Investor Pitch Deck For Startups Seeking Financing Click Here To Read