Phase III - Execute - Sales and Marketing
Phase lll training by invitation. For questions please email us at GROWYOURBUSINESS@uvu.edu.
The Goal of Phase 3 is to obtain Pilot Customers and gain Traction in the market
- Attend Training
- Read "Ultimate Sales Machine"
- Download the Grow Your Business Phase III Homework
- Buyer Personas
- Elevator Pitch
- Company Messaging
- Collecting Customer Testimonials
- Becoming Fundable
- Investor 1 page summary
- Investor Pitch Deck
- Power Point Presentation
- Submit homework to firstname.lastname@example.org 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:
- Is your competitive advantage sustainable?
- Is your idea or technology protected? IP?
- Are there significant barriers to entry for the competition?
- Has the technology been tested?
- Does your business require a low headcount?
- Does your model show recurring revenue?
- Does your plan show that your company will generate substantial revenues?
- Is more than 75% of your product complete?
- Do you have letters of commitment from other potential investors?
- Have you secured business agreements / commitments from large partners (affiliates,
suppliers, distribution channels)?
- Do you have a working prototype?
- Does your target market have a NEED for your offering? Solving pain for a problem
in the market.
- Has your target market successfully been identified?
- Is the target market well-researched in terms of the end user?
- Is the market $1 billion or larger?
- Is the market growing rapidly?
- Does your company have high margins to ensure profitability?
- Do you have viable exit strategy?
- Do you have a competitive go-to-market strategy?
- Have you identified key competitors and their strengths and weaknesses?
- Is your product/service substantially different, unique, or better than the competition's
- Do you or your management team have previous entrepreneurial experience?
- Do you or your management team have significant experience in the marketplace?
- Have you or your management team led a significant startup in the past?
- Do you or your management team have significant relationships and advisors in the
- Have you or your management team proven its ability to effectively sell and market
in previous roles?
- Have you or your management team previously generated a large return/exit for previous
Funding Assessment - $5k Grant
- Do you have a strategic plan for efficient use of the $5k grant funding?
- Will the grant funding take you to profitability?
- Have you received previous funding?
Any company can attend any training for any phase. To receive funding from USTAR,
a company must be in the top 3 and receive over 70% approval from the judges. Companies
will also be scored by their homework and by the BRC Executive Committee. The combined
scores of homework, pitching, and the BRC Executive Committee will determine who receives
funding. USTAR has the right to Veto any funding decisions. Each company can have
the opportunity of pitching twice for each phase for the grant money.
* See Terms and Conditions