Required Content


Description

  • Please describe the (initial) product, service or technology on which your business will be built.
  • Explain what your product, service or technology does and the problem(s) it solves or the need(s) it fills. 
  • Describe the features (characteristics) and benefits (each feature should have a corresponding benefit) of your product, service or technology.
  • If known, what is your anticipated price per unit? Be sure to define the unit: e.g. per gallon, per dozen, each, per GB, per hour, etc.


Uniqueness

  • List the direct and/or indirect competition for your product, service or technology.
  • How is your product, service or technology unique?
  • How does it differ from what is currently available to solve the problem(s) or fulfill the need(s) you are addressing?


Target Market

  • Identify who and/or what is/are your target market(s).
  • Are your direct buyers industrial, commercial, or consumers? Are there any traits that segment your target market (e.g., Women aged 50+, businesses with revenues between $50M and $200M, businesses located in the eastern United States)? 
  • Describe the size of your target market. How many potential buyers are there? What are the total sales for the industry and/or market segment you are entering? How many competitors are in the industry and market segment?
  • Describe your marketing strategy. What mix of channels will be used to distribute your product, service or technology to targeted buyers (e.g., Wholesaler/Distributor, Direct/Internet, Direct / Catalog, Direct / Sales Team, Value-Added Reseller, Consultant, Dealer, Retail, Sales Agents / Manufacturer’s Representatives)? How will you promote your product, service or technology? Where will you advertise?
  • What efforts, if any, will you make to get targeted buyers to try your product, service or technology?