What is the problem or opportunity that your innovation is designed to address? Please be as specific as possible.
a. How big is the problem or opportunity – how many people does it affect?
b. What’s the market potential for your solution? In answering this, please explain how you calculated market potential. Please include estimates from external sources whenever possible (i.e., size of the target market / forecasted growth rate / your current and forecasted market share).
What is unique about your innovation / product?
a. What gives your solution a competitive advantage? Please note that an effective answer typically involves intellectual property barriers and / or an ability to reach the target market more efficiently than the competition is able to.
b. How sustainable is your competitive advantage? In answering this, please provide third-party validation when possible.
c. Does your company have proprietary intellectual property in the form of patent, trademarks, copyrights, etc.? What do you own? What can you protect?
Why is now the most opportune time to invest in, partner with or buy your innovation / product?
a. Most people tend to think of ‘the competition’ when people ask them about risks facing their business opportunity. However, competition is only one risk. Other risks include changes or shifts in technology, governmental and regulatory policies, labor market conditions, business climate changes, etc.
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