Pitchora is a start-up competition for innovative and creative entrepreneurs eager to disrupt the market.
Every year, Pitchora provides start-ups with the chance to win access to an exclusive start-up incubator designed to catapult them through the initial phases of their corporate and business journey. The journey starts with a written application where start-ups give the selection committee a detailed first glance at what their business is all about.
When it comes to pitching your business concept, first impressions matter. Despite having developed a great idea or a first-class product or service, failing to submit a convincing application might significantly decrease your chances of getting selected to be among the Top 10competing start-ups for Pitchora.
Interested in being a part of the Pitchora journey? Here are the most important tips to keep in mind before submitting your application to our selection committee.
The effort and dedication you put into your written application will ultimately reflect itself in an application that’s very hard to forget.
When it comes to writing your application, you’ll want to include every important detail that will sway the submission in your favour.This means dedicating enough time to carrying out research. The more knowledgeable you are at the writing stage, the more convincing your application will sound.
The ideal starting point would be to study the market, both on a macro level (global and local trends, market size, history etc) and on a micro level (SWOT analysis, your direct and indirect competitors, marketing strategies, pricing etc).
There isn’t a limit to how far you can take this stage of the application writing process, and there are no set requirements that indicate how much work you need to put into preparing for the application itself. However, being on top of your game from the very early stages of this journey by getting to know the environment significantly increases your chances of winning the competition!
Including the right information in your application is key.
As exciting as the big picture is, investors need more than a spot-on business concept.
Your application should specifically include numbers, financial projections, timelines, future growth strategies and other crucial details that will make for a solidified concept. Our selection committee will tend to focus on this part most – how do you intend to make money? Be very specific about your products and/or services and their pricing. Something you must do is emphasise how the market is absolutely dependent on your arrival.
By making mention of the right information, you’ll not only be selling your business concepts but also eliminating any doubts that would stand in the way of your entry into the competition.
Consider your investors’ needs
When it comes to both writing your application as well as creating your business pitch, you’ll want direct what you say in favour of the investors’ needs.
Not only should you be careful to include information that addresses any possible objections investors might raise, but it’ll also work in your favour to keep an eye out for who the investors are (and what may catch their attention).
Keeping these concerns in mind and addressing them throughout different stages of the Pitchora journey will keep potential investors from becoming distracted and shows you’ve performed your due diligence and considered their needs.
Highlight Your Team’s Competence
Unless it doesn’t apply to your particular start-up, there is definitely strength in numbers. Shedding light on the different responsibilities, talents, creative achievements and abilities of your team will only enrich your application.
Sometimes, the right people can take precedence over an idea of competence. Don’t forget to share details about your team and why they are the right people to continue pushing your start-up to new heights.
Tell a story
All in all, the most important thing is to frame your business pitch like a story. This is valid not only for the application writing process but also when pitching your concept in front of the Pitchora Panel of judges.
As you develop your pitch and describe all that you’re ready to offer, focus on tactfully presenting a story that addresses the problem your start-up is working to fix – and how it’s striving to do so.
Apply to take part in the Pitchora Competition 2022 to be in the chance to gain access to the start-up booster prize fund!