Tuesday, November 30 at IACT (Inventors Association of CT) meeting, 6:00-8:00 pm,
in the Fairfield University Library, room 101. If protocols in November do not permit in-person events on campus at that time, we will hold the finals presentations via Zoom. At the finals each innovator will have the opportunity to give a 3-minute P6owerPoint presentation and answer questions from judges about the product and plan to commercialize.
Entry Deadline: November 23 at www.Back-Offices.com/product
Eligibility. Connecticut residents and students at Connecticut schools are eligible; products must be pre-revenue (not yet in marketplace, other than on a limited trial basis for market testing).
Online application due November 23 at www.Back-Offices.com/product You will be asked for a brief description of your product or service, and how it's better, and/or cheaper to produce (and why), and/or how customer service is superior, and/or why the target market is underserved.
CAUTION: Do not divulge proprietary information.
On Friday, November 26, finalists will receive an invite to the state finals
PRODUCT OR SERVICE brief description (8 words or less)
DEVELOPMENT STAGE of Product
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
PRODUCTION. How do you plan to manufacture and deliver the product?
REVENUE STREAMS and COST (How much you charge and what it costs to produce)
CAPITAL. How much do you need to take the product to market; and if you receive a grant, how will you use the funds?
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.)