PITCH Proposal contents
This is for the final presentation on August 14.
What is the issue? Who has this problem? How was it handled in the past? How is it solved today?
What is the new proposed way to deal with this issue? Will it solve the issue for everybody? How does it compare with the current way of dealing with it? Is it or has it been tried before?
What do you think the technology behind the idea looks like? What is the hardware made of? Which parts are there and how do they connect to each other? What are the specifications? What software/firmware is needed? What does it do? What sort of power is needed: Is it plugged, does it run on batteries? Include any schematic or diagram that would help better understand the idea.
How is this idea monetized? What is being sold? Is it a product or a service? What does it cost? What is the price? What needs to be spent to get the project running? What will be the recurring expenses for the business? How many people are needed, and what are their profiles/professions/expertise/tasks?
Who will be buying this solution (so, what are the demographics and characteristics of the people who could buy this)? How will they find out (i.e. Facebook, Instagram, a sign on the street)? Where will they buy it? How will they pay for it? How much could it be sold during the first year(s)? How many need to be sold to make a profit?
The criteria for evaluating the project will consist of the following items:
The Originality of the proposal
This is how innovative and disruptive is the proposed solution, and how different it is from other existing solutions. Innovation can be present in the specific technology, the application of the technology to the problem, or the business approach to the use of the technology.
The business plan should show all relevant items needed to assess its viability. Depending on the project, this can include for example incomes, expenses, investment costs, fixed and variable costs, taxes, market research, pricing, distribution channels, competition, etc.
Note that the idea does not need to generate a profit, but it must be financially sustainable (i.e., not dependent on charity or voluntary contributions of time or resources).
The team must present the proposal at the challenge event on July 14th. The presentation must consist of a 5-minute elevator pitch during which the team must show the complete proposal, from the problem statement to the financial analysis, including technology development.
The Judges will be revealed in July 2021.