<aside> 📌 Below you will find over ten key areas we suggest, but not limited to, you cover in your pitch to be in a competitive position.
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[ ] Vision & Value Proposition
A quick one-liner overview of your startup and the value that you provide to your customers.
[ ] The Problem
Tell a relatable story when you are defining the problem. The more you can make the problem as real as possible, the more judges will understand your business and your goals. We recommend using the 5 Whys model as a foundation to help you find the root cause of a problem and identify potential countermeasures.
[ ] Your Solution
This is the star of the pitch. Describe how customers use your product and how it addresses the problems you outlined. Showing is nearly always better than telling, so explore using pictures & stories when you describe your solution. If you have a prototype, show it.
[ ] The Target Market / Opportunity
Explain who your ideal customer is and how many of them there are(market size). How many people are facing the problem that you outlined and will be willing to pay for your solution? Where are they located? If you answer these questions, then you have your target market.
Tell the story about the scope and scale of the problem you are solving. If you can find the data, judges will want to know how much people or businesses currently spend in the market to get a sense of the total addressable market size. How do you position your company in the market?
[ ] Revenue / Business Model
Explain how your solution can generate income (make it brief). Also, describe projections of where your money will come from over the next few years and how much per year(this should capture your main revenue streams and price model).
If you answer how you will make money, how much per year, and from which products/services your revenue slide is good to go. It will also be key to determine your positioning in the market: Are you a premium, high-price offering, or a budget offering that undercuts existing solutions on the market? You can also reference the competitive landscape here and discuss how your pricing fits into the larger market.
[ ] Traction / Validation  (If applicable)
Judges want to see some proven aspect of your business model because that builds trust and reduces risk. Laying out any validated milestones or proof that your solution works to solve the problem you have identified is extremely powerful.
What have you accomplished so far in terms of goals, milestones, sales, and early adopters? Do you have a prototype? Have you tested your prototype? Do you have some sales/pre-orders or MOUs? State whatever it is that you have already accomplished.
To go the extra mile, share the major next steps you plan on taking. A product or company roadmap that outlines key milestones is helpful here.
[ ] Competition
Is there anyone who your market can turn to for an alternative or substitute for your product/ service? Identify them and research their offering.
In essence, know your competitors' products and their capabilities, the edge they have in the market, their core target audience is their go-to-market approach, and any major partnerships they have.
Once you determine this and decide what you will do differently, you will have a clear differentiation of your offering versus your competitor in the marketplace. This differentiation is what you should highlight in a pitch as you give an overview of your competition.
[ ] Finance
Present any other relevant financial data that your target audience will appreciate. For a Hult Prize Pitch, we recommend including Unit Economics (all the cost of making, distributing, and selling 1 unit of the product), Profit margin per product, how you plan to spend the $ 1,000,000 investment if you win it, and your financial forecast (How many units you think you can sell per year and what that means in terms of annual revenues, break-even point, and profit projections).
[ ] Why You?
Who will be part of your team? What is unique about each of your team members and why are they the right person for your startup? What sets you apart from your competition? What do you know that your competitors don’t? If you can answer these questions, judges will be confident in you and possibly give you your ask.
[ ] Your Ask
Please clearly state your call to action. What do you want your target audience to do after having listened to your pitch? It may be the opportunity to advance to the next phase to access 1 million dollars. To help you develop your startup idea into reality? Investment size for your startup to scale? Creating impact?
Paint a picture about what will be achieved for both the beneficiaries of your product/service and also judge if you get your ask and make sure to state your ask confidently.
[ ] Your Contact
How can the audience reach out to you? Share this information on your last slide at the end of a pitch.
[ ] References Slide - At the end (Hidden)
It is essential to let your audiences know where you got your data points or research from as it provides transparency and a foundation on what you startup is built on. You can keep it simple! If the data is your pitch deck and the pitch video is from a third-party Market research report, hyperlink and mention the year that the research was published.