CT New Product Business Competition
Tuesday, November 30 at IACT (Inventors Association of CT) meeting, 6:00-8:00 pm,
via Zoom. At the finals each innovator will have the opportunity to give a 3-minute PowerPoint presentation and answer questions from judges about the product and plan to commercialize.
Entry Deadline: November 23 at www.Back-Offices.com/product
TRAINING
Training Session “Pitching Products to Investors and Judges” Tuesday, October 26, 5:00-6:15 pm. Via Zoom: https://Fairfield.zoom.us/j/9622684377 Meeting ID: 962 268 4377
Or via phone at 646 876 9923
JUDGING CRITERIA
SEMIFINAL (online) Questions. Limit 1,500 characters per answer
PRODUCT OR SERVICE brief description (8 words or less)
UPLOAD IMAGE OF PRODUCT (if available)
DEVELOPMENT STAGE of Product
PATENT STATUS
VALUE PROPOSITION: Problem and your solution, how it's better, or cheaper to produce or deliver (and why), or how customer service is superior, or evidence your target market is underserved
CAPITAL. How much do you need to take the product to market; and if you receive a grant, how will you use the funds?
JUDGING CRITERIA for Presentation at Finals
1. PROBLEM: Solves a real problem; there is strong customer pain or desire
2. SOLUTION: Superior or cheaper than alternatives, or serves new market niche
3. TARGET MARKET: Clearly defined; adequate size to support business
4. MANAGEMENT: Knowledgeable about industry; Convincing
5. FINANCE: It's clear how the company will make money
6. FUNDING: It's clear how much the company needs to launch or grow. (If company does not
require funding at this time, it may have an alternate need, such as customers or talent.)
