Two startups will battle on the same stage against each other. The aim is for each startup to best answer the questions posed to them. Questions posed to be organized by the judges. Regardless of the idea, size or category of the opposing startup, each startup must convince the judges that their company is the best to invest in.
Each startup is given 45 seconds to demonstrate their idea. They must SHOW NOT TELL.
- How does their product/service work? (Hint: Creativity gives extra points! After all, every company must know how to market and sell.) They could demonstrate by showcasing their product/service, showing a video, providing a live demonstration, WHATEVER they want.
The aim is to think outside the box. These 45 seconds are for the startup to decide. Time is of essence the startup must carefully select how to SHOW their product/service without running into too much detail. Leave the details for the question/answer part.
Following the demonstration, the host will pose questions as highlighted below to each startup. One question will be asked per round. Each answer is to be timed accordingly as mentioned. We have listed points for the startup to consider when answering to each of the five questions, we require that you share these recommendations with the finalists .The startup is not requested to include all the listed points nor are they limited to only mention the listed points. Each startup knows best what is needed to highlight!
ROUND 1 (30 SEC) NEED:
What problem does your product solve? National, Regional, Global?
What is unique about the company?
What big problem does it solve?
How big is the market opportunity?
What do your customers need and how do you know for sure?
Why do users care about your product/service?
Who are your competitors and how do you differ?
Information on what you are accomplishing. Mention any key intellectual property you may have (patents, patents pending, copyrights, trademarks, etc.). Hint: Know your customers, know your market!
ROUND 2 (30 SEC) RISKS:
Identify potential risks and planned responses to them.
Point out potential vulnerabilities and how they might affect you (Ex. If the price of petrol or a particular material goes up, what does that mean for your business?)
Do you have any legal, regulatory or product liability risks? (Ex. Is your product in the growing Cannabis industry?)
ROUND 3 (30 SEC) IMPACT:
How does your business benefit mankind? Investors used to only look for their ROI, now a growing number want to know that they are making a positive impact.
How is your product/service tackling current global challenges (on a National, Regional or Global level)?
How many people does/could your product/service benefit? Hint: Think of the direct and indirect impact you are making.
ROUND 4 (30 SEC) SUSTAINABILITY:
How will your company make money now and in the future?
What is your business model?
How will you make money from your product/service?
How much equity and debt has the company raised?
What is the capitalization structure? (We recommend you use dollar currency for reference sake but do mention what currency you usually trade in) How will you manage long term growth? (Do mention your sales and distribution model).
How will you get your first customer as well as the 10,000th —— or one millionth —- customer? Mention
your PR strategy.
What do you do when everyone has one of your products/services?
What is the projected lifetime value of a customer?
What is the typical sales cycle between initial customer contact and closing of a sale?
What early traction has the company already gotten?
How can it be accelerated? What are key features you plan to add in the future?
What are your major product milestones?
ROUND 5 (30 SEC) TEAM:
How your management team is uniquely positioned to execute on this idea? Prove why your team can execute on your idea and create value in the company.
After each battle between 2 startups the judges will have limited time to ask both of the startups additional questions for further insight. At the end of each battle one startup will be selected to move to the runnerups. The runner ups from each battle will stand on stage for further questions by the judges, as well as the audience. The judges will then select the national winner (s).
- Judges from the agriculture ecosystem are selected to be present live on the day of the national competition.
- Only one founder will pitch on stage while the rest of the team must stay in the audience.
- Pitches must be in English
- Slides cannot be shown during the pitching battle on stage (neither power point nor other versions).
- Startups reading off a paper while pitching is not permitted
- Time is of the essence. Startups must be cut off if their answer goes beyond the time limit
- Startups must be notified that they may be videotaped and that may be used for promotional purposes.
Inform the Global FAC team. FAC is hosted across five continents globally. Even though all countries will be accredited in the Global Championship, only the selected start-ups will be pitching their idea live on stage. These selections are made by the Global FAC Committee. This year FAC will invite all national winners to the Global Championships to attend the training sessions and take part in networking opportunities; however, selected finalists will be chosen to pitch live on stage.
One Social Media Award will be offered to the start-up that is most popular among all participating countries. The Social Media Award winner will present their idea live at the Global Championship.
The Social Media Battle will run from January 30th to February 28th 2017 for all countries. We are awaiting the details of this.