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APPLICATION TEMPLATE for IDEA OWNERS

APPLICATION TEMPLATE for IDEA OWNERS

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APPLICATION TEMPLATE for IDEA OWNERS

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  1. APPLICATION TEMPLATE for IDEA OWNERS Please use this template when submitting your idea for selection by the Club Entrepreneur’s Review Board. Please note that only ideas presented in this format will be considered by the Review Board. The goal of having a standardized process for the submittal is to enable a fair and equitable evaluation of a proposed Idea. February 14, 2005

  2. General recommendations on how to capture the Review Board’s attention • Describe your idea in short and simple terms that are understandable to laymen • Focus your message on the most important merits of your idea • Demonstrate your grasp of the pertinent details and facts of your idea • Demonstrate your ability to sell your idea to potential Angel Investors and Venture Capitalists

  3. The Idea • Describe what your idea is • How does it work? (provide visuals, graphics, animation, prototype) • Provide additional information on what inspired you to come forward with your idea

  4. About Yourself • What do you bring to the table in terms of prior accomplishments? • How is your professional background relevant to your idea? • What prompted you to seek the Club Entrepreneur’s assistance? • What specific area do you need the most help with? • What experience are you lacking or missing?

  5. The Value Proposition • Describe the problem and how you are able to resolve it it with your idea • Provide compelling reasons as to why your idea responds to an existing or future market demand • Smaller? • Cheaper? • Better? • Faster? • New innovation? • Combination of above? • Will it revolutionize the market?

  6. Competitive Landscape • Discuss current and potential competitors • How do you intend to differentiate yourself from the competition? • Why would customers rather do business with you?

  7. Status Quo of Intellectual Property • How do you intend to protect your IP? • Have you been issued any patents? • What do the patents cover? • Are patents provisional, pending? • Are they yours alone? • Are you planning on applying for additional patents?

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