Phase III - Execute - Sales and Marketing

Schedule:

phase 3 signPhase III training is taught from 8:30am to noon on the 2nd month of each quarter, on the 2nd Thursday  Aug, Nov, Feb, May, Aug, Nov. You can view the schedule on the G2M Calendar<https://www.google.com/calendar/embed?src=mof11mjgh6tiouido6rsvbv1a8%40group.calendar.google.com&ctz=America/Denver>.

Goal

The Goal of Phase III is to obtain Pilot Customers and gain Traction in the market

Requirements

  • Attend Training
  • Read "Ultimate Sales Machine"

Homework

  • Buyer Personas
  • Elevator Pitch
  • Company Messaging
  • Collecting Customer Testimonials
  • Becoming Fundable
  • Investor 1 page summary
  • Investor Pitch Deck
  • Projects
  • Power Point Presentation
  • Submit homework to karenw@uvu.edu at least one week prior to presenting.

Presentation: Panel of Investors

After completing the training and doing the homework, applicants will have the opportunity to present their idea to a Panel of Investors. Pitches to the Panel of Investors will occur Semi Annually on the1st Wed. of October and April. The Panel of Investors will judge your pitch on a scale of 1 to 10 based on the following criteria and make a recommendation as to who should receive grants, but the BRC and USTAR retain the right to make the ultimate decision:

Product Assessment

  1. Is your competitive advantage sustainable?
  2. Is your idea or technology protected? IP?
  3. Are there significant barriers to entry for the competition?
  4. Has the technology been tested?
  5. Does your business require a low headcount?
  6. Does your model show recurring revenue?
  7. Does your plan show that your company will generate substantial revenues?
  8. Is more than 75% of your product complete?
  9. Do you have letters of commitment from other potential investors?
  10. Have you secured business agreements / commitments from large partners (affiliates, suppliers, distribution channels)?
  11.  Do you have a working prototype?

Market Assessment

  1. Does your target market have a NEED for your offering? Solving pain for a problem in the market.
  2. Has your target market successfully been identified?
  3. Is the target market well-researched in terms of the end user?
  4. Is the market $1 billion or larger?
  5. Is the market growing rapidly?
  6. Does your company have high margins to ensure profitability?
  7. Do you have viable exit strategy?
  8. Do you have a competitive go-to-market strategy?
  9. Have you identified key competitors and their strengths and weaknesses?
  10. Is your product/service substantially different, unique, or better than the competition's or substitutes?

Management Assessment

  1. Do you or your management team have previous entrepreneurial experience?
  2. Do you or your management team have significant experience in the marketplace?
  3. Have you or your management team led a significant startup in the past?
  4. Do you or your management team have significant relationships and advisors in the industry?
  5. Have you or your management team proven its ability to effectively sell and market in previous roles?
  6. Have you or your management team previously generated a large return/exit for previous investors?

Funding Assessment - $5k Grant

  1. Do you have a strategic plan for efficient use of the $5k grant funding?
  2. Will the grant funding take you to profitability?
  3.  Have you received previous funding?

Any company that scores above 70% from the voting can move on to Phase IV. Only the top three presenters at each pitching event will receive grant money. Each company can have the opportunity of pitching twice for each phase for the grant money.

Apply Now

* See Terms and Conditions