An exciting new competition that will see start-up businesses pitch and sell their ideas to a panel of experts including finance, marketing and operations. Candidates will be pre-screened for an effective campaign.
Candidates will go in the running to win: (estimated $10 000 worth of prizes)
- Shared office space for 6 months
- A marketing mentor for 6 months, including 1 hour consultation each month and devised and confirmed marketing plan
- A finance mentor for 6 months
Candidates will need to demonstrate:
- 1. Finance Savvy – Candidates will need to know their numbers. Prove to potential investors that their company will have good financial returns. Demonstrate a clear understanding of your business model.
- 2. Experience in the industry – Investors look for ambitious yet technical entrepreneurs with a track record of high performance in the industry or in prior companies that they have worked for. Passion and commitment should be evident to inspire confidence.
- 3. Unique idea – Your product or service needs to be unique. Prove to the panel, with concrete evidence, that the market potential meets a need and is feasible enough to make investing worthwhile.
- 4. Business Model 101 – Your company will need to start to display its strategic value as soon as it begins to generate profits. Present the business model that they are currently using and prove that it will assist their company become profitable.
- 5. Market Size – Investors typically invest in solutions that address major problems for an industry or sector. Candidates must demonstrate an understanding of their target market and look at market characteristics such as significant growth and limited competition.