14 Jan 2021

Pitch Competition – FAQs

14 Jan 2021
Pitch Competition Details
 
Who Should Enter the Competition

BoomStartup encourages every startup who is earning under $250K annually to enter into this competition who has their sights on making a difference in these important aspects to our world. This pitch competition is about pitching the company that creates the innovation; so the narrative should be more like speaking to an investor vs. a customer. For example, focus on how to sell your company or entity that is solving the big problem, instead of focusing upon the innovation itself.

What if my Startup Has No Revenue?

BoomStartup encourages every startup to enter the competition. Yes, we do ask about historical financials, but it is OK to say that there is no revenue! If you want to outline your costs or investments to date, please do. We would like to see what is your financial projection for the next year or two, if possible. It can be as simple as Number of units sold or Customers multiplied by Sale price (equalling revenue), then subtract out Cost of Goods Sold, deducing your company’s Profitability. Contact us if you want additional help.

STRT Community Uplift Award Details

BoomStartup is elated that STRT is sponsoring the Open Pitch Competition and is contributing $250 cash prize and $1,000 in STRT services to a deserving company who is uplifting their community. STRT will review the top candidates who apply for the BoomStartup’s 2021 open pitch competition, and select the startup that has the greatest and most obtainable impact to a community.

STRT will contribute $250 in cash and $1000 in services including
Brand book development
Promotional podcast featuring the Uplift winner
Round table expert topic access
Additional community mentoring support

The winner will be selected by the community they are uplifting. The judges will take into consideration the size and problem hindering the community. Second, judges will measure the uplift contributed. How does the startup measure contributions or change? What proof points do they have that warrants positive influence?

STRT will review the completed pitches and ask for a private, 1:1 interview session where the top candidates will answer the following questions.
Who is the target market — how is that defined as a community
What is the hindrance that the community is experiencing, how does that hold them back or put them at a disadvantage?
What is their solution
How does it enable a positive experience or an Uplift to the community?
What proof points does this candidate have to prove the uplift

The STRT judge will select the winner and announce it during the February 24 live pitch event.

Pitch Submission Content

You are expected to share an investor oriented pitch deck (PDF format) that adheres to our 12 slide format. Additional slides can be added onto the deck as back up slides. The slides should contain all of the content needed for judges to understand the innovation, impact, and business model. We will not judge notes or comments. Slide design is important.

You will also need to submit an under 90-second demonstration video showing the innovation. You must complete the BoomStartup scorecard to be considered a competitor.

Friday Q&A Working Session

Need help? Come meet us on Friday Feb 5 and Feb 12 at 8:45am MT/ 10:45am ET and let us help you out. You can sign up for the Zoom session here.

Pitch Submission Process

To begin please complete the Step 1 form available at the bottom of this page.

Step 2 will be to access the Open Pitch Competition material and download the slide template and demo template to begin creating your materials.

Step 3 is to upload your pitch deck and 90-second video to us. This must be completed by midnight, MT on Wednesday, February 17, 2021.

Pitch Competition Fees

This competition is free to enter. Entrants can ONLY enter in one category. We ask you to agree to our terms of service and privacy policy and consideration into the BoomStartup Accelerator program. The cost of the competition is being covered by our sponsors, so please show them your support.

Submission Categories

BoomStartup will make a difference on companies who are making a difference in this world. This competition focus is around seven categories: Health and Wellness, Impact, Education, Energy, Financial, Rural, and Productivity. We encourage founders from diverse backgrounds to apply as well.

Although we do not know how many submissions we will receive for each category, we will rank and interview the top bracket to choose a winner. Each bracket winner will receive $1,000.00 USD. Out of the finalists, we will allow the audience to select their favorite submission, who will receive $500.00 USD.

The winners will be selected after presenting at the live, final pitch competition on February 24, 2021. The finalists will present a condensed, three minute business pitch of their choice, and also host a two-minute demo, totaling 5 minutes on stage. The judges will ask up to three questions total, and then make a selection of the winners in each category.

Companies can only apply for one category. It is wise to customize the pitch presentation and demo to emphasize the category influence that their company and innovation bestows.

Judging Process

The judges will review the material submitted (the scorecard, pitch deck, demo video) and rank each submission against each other.  Scoring is based upon professionalism, traction, viability, reach, and most importantly, innovation.

All submissions will be reviewed, the top entries for each category will be selected and announced by February 20, 2021.

The final pitch competition is open to the public and will be hosted on Monday, February 24, 2021.

Final Pitch Competition

Join us on Monday, February 24, 2021 to listen to the determination of the winner in each category. The Final Pitch Competition will be hosted virtually. The top presenters in each category will give a three-minute pitch and a two-minute demo, totaling 5 minutes of presentation time. Our judges will then have the opportunity to ask the presenter up to three questions, and provide up to three minutes of Q&A. Response quality, personality, and precision will influence the final vote. During the competition the audience can vote for their fan favorite, which will be rewarded at the end of the event.

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