Teams selected as semi-finalists will pitch their businesses live to a panel of judges on September 25th at the 41st Annual Conference & Exposition presented by NBMBAA®. This section outlines the requirements of the pitch challenge.
About the Pitch
Pitch Components
Teams will present their ideas/concepts to a panel of judges with a 3-minute time limit. Pitches should include:
1. Product or Service – Briefly describe the product or service.
2. Value Proposition – How is the product or service going to add value for customers?
3. Target Audience – Who will be buying the product or service?
4. Market Size – How big is the target market?
5. Differentiation – How is the product or service different from existing products or services? What is the competitive advantage? (patent, algorithm, unique service model, etc.)
6. Revenue Model – How will the product or service generate revenue? (sales, subscription, advertisement, etc.)
7. Revenue Estimate – How much is expected to sell in the first year of business?
Time
Each team is allocated three (3) minutes for presenting and an additional three (3) minutes for a Q&A session with the judges. The clock will start when the presenter begins to speak.
Presentation & Materials
Teams should submit a PowerPoint presentation to accompany the pitch using a template that will be emailed to semi-finalists. This presentation should be submitted no later than 6pm eastern on Sept 24th via a Dropbox link that will be provided. Presentations should follow the format and template provided. Teams can also display/share/show their prototype, samples, or posters. However, materials may not be distributed to the judges or the audience during the pitch.
Judging Criteria
Judges will evaluate companies based on four core criteria designed to test the merit and scalability of businesses:
1 – Business/Revenue Model
Does the business have a defined, realistic, tested and scalable business model? Is there a current positive trend in revenue growth? How will the company use the funds to promote sustainable growth? Is the IP protectable? What is the barrier to entry? Does the company run efficiently?
2 – Product/Market Fit
Have you conducted customer feedback/market research? Is there demand for this product? Will the market bear your pricing structure? How will future trends affect the business trajectory?
3 – Team Capabilities & IP
Does the founding team have the requisite skill-set and core competencies to execute on the idea? Do you have deals in place with vendors and suppliers? Have you identified team weaknesses? How do you plan on filling these gaps?
4 – Execution (Technical, Business & Product)
How has the business executed on ideas to date? Is the product well-designed? Is the business set up efficiently/effectively? Where is the product in its lifecycle? How will you advance the product to its next stage?