global blue innovation challenge · web viewprovide the applicant name(s) of those who hold 10% or...
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Innovacorp 2020 Global Blue Innovation Challenge ApplicationApplicant Information
Name (as per passport)
Business name
Mailing address
Citizenship
Current business registration location
Telephone
Skype ID
Your role in the business
Do you have control over the intellectual property and other assets being brought into the business?
Yes No
Related Applicant # 1 (if applicable)
Name (as per passport)
Is related applicant # 1 essential? Yes No
Relationship (spouse, team or other)
Role (only for team member)
Related Applicant # 2 (if applicable)
Name (as per passport)
Is related applicant # 2 essential? Yes No
Relationship (spouse, team or other)
Role (only for team member)
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Related Applicant # 3 (if applicable)
Name (as per passport)
Is related applicant # 3 essential? Yes No
Relationship (spouse, team or other)
Role (only for team member)
Related Applicant # 4 (if applicable)
Name (as per passport)
Is related applicant # 4 essential? Yes No
Relationship (spouse, team or other)
Role (only for team member)
Please describe your business in two sentences.
Have you founded a company prior to this one?
Have you won any entrepreneurial awards? If yes, which award(s)?
Have you participated in an accelerator program(s)? If yes, which accelerator(s)?
Have you successfully exited a business before? If yes, please provide details.
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Business Overview
1. Describe your product and/or service.
Customer Pain & Value Proposition
1. Who is your customer (i.e., who will use/pay for the product or service)?
2. How many of these customers are in North America? Worldwide?
3. What is the problem your potential customers are experiencing? Does the customer recognize this pain? Is it one of their top problems?
4. How does your product or service solve the pain outlined above?
5. How much money will using your product or service save (or generate for) the customer on an annual basis?
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6. What is the global Total Addressable Pain? (Total Addressable Pain = # of customers X annual savings/new revenue)
7. In one sentence, what is the end result of your product or service? Does it save money, generate new income, make customers’ lives easier or give them new opportunities? Explain the value of your product or service to your target customer.
Technology
1. Describe the technology behind your product or service.
2. What is the current status of the technology/venture? (Please select one.) Idea In development Proof of concept Working prototype In market Other (please specify) _______________
3. What are the key next steps for the development of your product or service?
Competitive Advantage
1. Provide a complete view of the competitive landscape. Are there other solutions to the market pain? If not, how do customers work around it?
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2. What is the one thing this solution does that alternatives do not?
3. Is the uniqueness sustainable? What are the barriers to entry, i.e., a reason it will be difficult for competitors to do the same thing (e.g., patents, intellectual property, first to market, subject-matter expertise)?
Business Model & Market Opportunity
1. Is there evidence customers will buy your product or service? (Have you met with potential customers, received feedback or tested your ideas?)
2. Explain how you’re going to make money from your product or service.
3. What is the global Total Addressable Market? (Total Addressable Market = number of customers X annual revenue per customer.)
4. What is your go-to-market strategy?
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Project Team
1. Provide the applicant name(s) of those who hold 10% or more of the voting rights attached to all shares of the corporation outstanding at this time.
2. Briefly describe the background and experience of the entrepreneur(s) involved, including their roles and responsibilities. Has the team accomplished anything of note (e.g., exiting a business, world-class subject-matter expertise)?
3. How many people (or teams) are there in the world that could develop a similar business or solution?
Business Structure
1. As the applicant, do you have control over any intellectual property and other assets being brought into the business?
2. What is the financial and legal structure of the business?
3. Is there any other person or entity besides the above applicant and affiliates who holds or is expected to hold an interest in the business?
Milestones and Success Metrics
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1. What are the success metrics and timelines for your business?
2. What is the time required to go to market?
3. What are your key performance indicators?
Capital Requirements
1. How much funding is needed to move forward?
2. How will the money be used?
3. Why do you think your business would be attractive to venture capital investors (e.g., high growth potential, large market opportunity, attractive return prospects)?
Immigration Plan
1. Why do you want to move your business to Canada? Nova Scotia?
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2. What are your next steps if you successfully move to Nova Scotia?
3. How will you contribute to the Province of Nova Scotia? Will you hire people? Make new connections? Provide a positive economic impact?
Confidentiality: All submissions will be treated confidentially and will not be made available to the public.
I hereby verify the above information is true and correct to the best of my knowledge and belief.
_____________________________ ___________________________Name Title
_____________________________ ___________________________ Signature Date
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