Questions for most promising startups

logo-tia BCTIA has published their criteria for the 2009 Technology Impact Awards. The submissions are due on March 13, 2009. As a start-up there are tradeoffs about participating in these award programs. Depending on the program there might be a cash prize, introductions to funding sources, press opportunities, etc. Or it could be a giant waste of time. You have to evaluate each program individually. I think the BCTIA program is a good balance of Recognition and Exposure. It is really about growing and supporting the local technology ecosystem.

My favourite part about the TIA awards is the submission criteria. I think every start-up should be able to answer these questions [PDF 48.9kb]. 

Summarize why this submission should be considered for Most Promising Start Up Award category and explain the relevancy of the business concept based on the following four equally weighted criteria and using the listed questions as a general guideline:

  1. Value proposition
    What problem are you solving?
    For whom?
    How will you make money?
  2. Competitive differentiator
    What differentiates your product, service or technology from alternative solutions?
    What is your sustainable competitive advantage?
  3. Market opportunity
    Please be specific as to the addressable segment of the market you are targeting.
    How large is your market?
    What is the nature of the competitive landscape?
  4. Management team
    Who are the key team members and board/advisors?
    Why does your team have the ability to execute on the business plan?

The questions are perfect for early-stage companies to identify the problem, how you’ll make money, the market opportunity and the differentiators. (The application puts a further limitation of 2000 words).

Why not give it a try?

If you’re a Canadian start-up write a blog post that is less than 2000 words that answers the above questions. Send me an email or a tweet, just @reply me, with a link containing your answers to the question. I’ll retweet the submissions and see if I can share some recognition and exposure.

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