Every applicant must include a summary (an investor fact sheet) with their video submission. Summaries should adhere to the following criteria:
- Must fit onto 1 page
- Should include the following information:
- Company description
- Problem(s) that your business solves
- Revenue Model
- Target markets
- Milestones to date / goals for the future
- Competitive Landscape
- Notable clients
- Financial data
- Management team and credentials
It is important to remember that your summary should be a broad overview. Do not try to pack too much information into it – you only have one page. Your summary just needs to serve as a reference of key data for the judges/investors. Using bullet points is a helpful way of keeping things concise. Below is some further clarification on the information that should be included. For even more tips, templates, and summary examples, head over to the Training Materials section.
- Give a brief description of what your business is and how it functions. Remember, you can use your video pitch to elaborate on this description – here it should be kept to just a few points.
Problem(s) that your business solves
- Your idea should provide a solution to an existing problem which is not currently being adequately addressed. It should be clear to judges how your business will solve the problems specified in this section.
- How will your business make money? Use this section to show the judges that your idea will be able to generate the income needed to sustain itself.
- In this section, quickly explain which consumers will want to buy your product/service.
Milestones to date / Goals for the Future
- If you are entering the competition as an existing business, name a few milestones that you have already reached. If your business has yet to be created, what are some goals that you are aiming for down the road? Use either your milestones or your goals to show your drive for success.
- In this section, give a quick overview of the competition you face in selling your product/service. Think about other ways that consumers could solve the problem that you are addressing. Both judges and investors will like to see that you can demonstrate a realistic outlook by recognizing the role of other players in your industry.
- For those applying as an existing business, use this section to list any notable customers that you already have. Those applying as startups should identify prospective clients or customer types. A strong client list, will show that your business is garnering support early and laying a foundation for future growth.
- If your business has any numbers regarding past revenues and expenses, put them in this section along with your projections for the future. All applicants are expected to provide revenue and cost projections for five years. Be sure to present all of your data in pro forma format (for help with format, see the Training Materials section)
Management Team and Credentials
- Here, you should list all important team members and what positions they occupy in your company. For each, provide any credentials which qualify them to run a business. A strong management team will boost investor confidence and impress our judges.