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Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
Lead To Win Days 4 6 July August 2009
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Lead To Win Days 4 6 July August 2009

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  • 1. Lead to Win Phase II: Opportunity Development Days 4-6 Delivered at the University of Ottawa August 25, 26 and 27 TABLE OF CONTENTS 1. Objective 2. Benefits 3. Associates 4. Location of teaching facility 5. Schedule: Days 4-6 6. Participants accepted into Days 4-6 by (i) name and (ii) opportunity area, room and time of presentation 7. Day 6 opportunity assessment 8. Tips to help participants deliver successful Day 6 presentations 9. Differences between Day 3 and Day 6 opportunity assessments 1. OBJECTIVE Lead to Win is a business development program. The objective of the Lead to Win program is to establish and grow technology businesses in Canada's Capital Region. The goal is for each business to generate a minimum of six technology jobs in the next three years. The objective of Phase II: Opportunity Development is to first harden (days 1-3) and then strengthen (days 4-6) participants’ business opportunities. 2. BENEFITS Phase II of the Lead to Win program helps participants: • Reduce time to develop strong business opportunities • Identify and fill the gaps between what they know and what they need to know to profitably grow businesses • Harden and strengthen their business opportunities • Build the right foundation to sell to first customers, raise funds, and attract and retain talent • Establish a large and diversified network to obtain resources, reputation and peer support • Increase motivation, energy and confidence The Lead to Win Program's points of difference that add significant value to a participant are: • Program is delivered by experienced individuals who have been through the process of developing a technology company themselves and have practical solutions to real world problems • Reviewers with diverse experiences provide substantive feedback on a business opportunity multiple times • Focus is on reducing time to cash • Uses the ecosystem approach to harness the creativity required to launch and grow companies
  • 2. Lead to Win July-August Session of Phase II: Opportunity Development The program's points of difference that add significant value to the region are: • Proven success measured in terms of the number of knowledge jobs created in the region and the amount of capital attracted, not the number of participants who enroll in the program • Volunteers from a large number of organizations contribute to the success of the program • Strategy is set by stakeholders of an innovative community and program governance is transparent and open • Content is freely available for use by other communities and organizations, not proprietary 3. ASSOCIATES The Strategic Associates of the Lead to Win program are: 1. Carleton University 2. City of Ottawa 3. Industrial Research Assistance Program (IRAP) 4. Ontario Talent First Network 5. Ottawa Centre for Research and Innovation (OCRI) 6. Ottawa Chamber of Commerce 7. Développement économique- CLD Gatineau 8. Arrow Electronics 9. onconference Individuals from the following organizations contribute to the Lead to Win program: 1. Algonquin College 22. LJD- Technology 2. Alcatel-Lucent 23. Lumenera Corporation 3. Altera 24. McLarty & Co 4. Bedarra Research Labs 25. Netcelerate 5. Business Development Bank of Canada (BDC) 26. neuroLanguage 6. Blindside Networks 27. Ottawa Patent Agency 7. Centre de développement d'entreprises technologiques 28. Ottawa Talent Initiative 8. Cisco 29. Peter’s New Jobs 9. Congruance IT 30. Purple Forge 10. Fidus 31. Telfer School of Management, University of 11. Flow Ventures Ottawa 12. Fraser Milner Casgrain 32. TheCodeFactory 13. FreeScale 33. Technology Innovation Management Program 14. Gowlings 34. TiE 15. Hewson Bridge and Smith 35. Trivaris 16. HI-Q.A. 36. Versature 17. Holis Associates 37. Vitesse Re-skilling Canada 18. Ideas2Revenue 38. Waterfront Toronto 19. Katsura Investments 39. Wesley Clover 20. Kuro Partners 40. Weyes Eyes 41. WiLAN 21. KPMG 4. LOCATION OF TEACHING FACILITY Days 4-6 of the July-August Lead to Win Opportunity Development session will be held at the Centre for Executive Leadership, Telfer School of Management, University of Ottawa located at the World Exchange Plaza, 45 O’Connor, TD Tower, suite 350, Ottawa ON K1P 1A4. Telephone: (613) 564-0818 Group work will be held in Case rooms 1, 2, 3 and 4 and Suite 350. 2
  • 3. Lead to Win July-August Session of Phase II: Opportunity Development Driving directions From The East: • On the 417 From East (Orleans): • Take the 417 WEST to METCALFE Street • Take METCALFE Street North to the building’s parkade • Located at the corner of METCALFE & ALBERT On the 417 From West (Kanata): • Take the 417 EAST to METCALFE Street • Take METCALFE Street North to the building’s parkade • Located at the corner of METCALFE & ALBERT From The North (Gatineau): • Take the ALEXANDRA (Inter-Provincial) BRIDGE South to MACKENZIE Avenue • Take MACKENZIE Ave. to WELLINGTON Street • Turn RIGHT onto WELLINGTON Street • Turn LEFT onto O’CONNOR Street to QUEEN Street • Turn Left onto QUEEN Street On The From South (Airport): • Take the AIRPORT PARKWAY (which turns into BRONSON Ave.) to QUEEN Street • Turn RIGHT onto QUEEN Street Public transportation Ottawa has an extensive public transit system. OC Transpo’s many buses take people to their destinations quickly and safely. In fact, Ottawa’s bus system has grown along with the City. The Transitway corridor is fast and efficient, and travel prices are affordable. Look into getting a bus pass if you use OC Transpo to commute. To contact OC Transpo for route information and fares you can call 613-741-4390 or visit their web site at http://www.octranspo.com. O-Train This new light rail service uses an existing Canadian Pacific freight rail line that runs from Greenboro Transitway Station in the south of Lebreton Flats in the north. A total of five stations provide a range of new commuting options and enhance service to Carling Avenue, Confederation Heights and Carleton University. Light rail goes where the Transitway doesn't, providing convenient access to rapid transit service for as many as 6,400 riders each day. Transit connections The train is fully integrated with bus service for seamless travel between systems and increased commuting options. Bus stops are located adjacent to each station for your convenience. For information on the O-Train you can 613-741-4390 or visit their web site at http://www.octranspo.com Taxi services • Blue Line Tax Co. 613-238-1111 • Taxi de Ville (24 hr.) 613-841-6090 • West-Way Taxi (24 hr.) 613-727-0101 Parking 3
  • 4. Lead to Win July-August Session of Phase II: Opportunity Development Underground parking is available 24 hours a day, 7 days a week at the World Exchange Plaza. . Entrance to the parking can be accessed from Metcalfe or Queen Street. Upon entering the parking area you will be required to take a parking stub. From 9:00 am-5 00 pm the cost for parking is $3.00/hour and a maximum of $18/day. After 6:00 pm parking is $3.00/hour and a maximum of $5/night. Please retain the parking stub as it is needed for payment upon departure. 4
  • 5. Lead to Win July-August Session of Phase II: Opportunity Development 5. SCHEDULE: DAYS 4-6 Day 4: Tuesday August 25 Speaker and location Topic 7:45 a.m. Breakfast Meet and greet 8:00 a.m. David Hudson -Talent First Network • Overview of days 4-6 (Suite 350) 8:05 a.m. Chuck Colford – Congruance • Team Brian Hurley - Purple Forge • Steering (Suite 350) 10:00 a.m. Break 10:15 a.m. Chuck Colford - Congruance • Operational issues portfolio (i.e., Brian Hurley - Purple Forge Group benefit plans, travel cost, (Suite 350) cash management, risk tolerance) 12:00 p.m. Lunch – Suite 350 or 380 12:45 p.m. Irene Kohut – AON • Aligning human resources and Michael McInerney – AON business strategy (Suite 350) 1:45 p.m. Kevin Goheen - McLarty & Co • Optimizing claims to the Scientific (Suite 350) Research and Experimental Development (SR&ED) Tax Incentive Program 2:45 p.m. Peer opportunity assessment Peers assess opportunities with (Case rooms 1 to 4 and Suite 350) mentors assisting • Group I Mobile applications • Group II Content and media • Group III Health services and technology • Group IV Software • Group V Consulting and applied technology 5:15 p.m. Dinner (Sheraton Hotel) 5:45 p.m. Doug Colley – IRAP • IRAP services to companies (Sheraton Hotel) • Funding opportunities • Challenges clients face • Small project accelerated review process 6:30 p.m. David Hudson -Talent First Network • Participants introduce their (Sheraton Hotel) companies (hard max of 3 minutes per company) 8:00 p.m. Departure Peers’ opportunity assessment: Please allocate maximum of 20 minutes to each opportunity assessment. To assess an opportunity, a participant should use the Day 6 Opportunity Assessment Form. Attending dinner: Doug Colley (IRAP) and Douglas King, Steven Muegge, and Michael Weiss (Carleton University) 5
  • 6. Lead to Win July-August Session of Phase II: Opportunity Development Day 5: Wednesday August 26 Speaker and location Topic 7:45 a.m. Breakfast Meet and greet 8:00 a.m. Serge Lafontaine – Arrow Electronics • Find first customers most willing to Stephen Davies – Redwood buy from you (Suite 350) • Adapt the funnel to sell to first customers you target • Sales and product marketing techniques to maximize funnel value • Map funnel information to cash flows • Use the Internet to sell 10:00 a.m. Break – Lobby Suite 350 10:15 a.m. Learning application • Apply learning to your opportunity (Case rooms 1-4 and Suite 350) 11:15 a.m. Serge Lafontaine – Arrow Electronics • Presentations Stephen Davies - Redwood • Discussions (Suite 350) • Lessons learned 12:00 Lunch – Suite 350 or 380 12:45 p.m. Fred Dixon - Blindside Networks • Pricing and delivery (Suite 350) 2:15 p.m. Break 2:30 p.m. Eric J. Smith - Fraser Milner Casgrain • Key legal issues for technology (Suite 350) start-ups • Threshold issues • Company formation • Co-founder issues • Shareholder agreements • Financing the business • Employees and contractors • Contracts that enable sales and partnerships 5:15 p.m. Dinner (Suite 380) 6:00 p.m. Curt Dodd – WiLan Inc. • Realizing business value through (Suite 350) patents and intellectual property 8:00 p.m. Departure Attending lunch: Fred Dixon, Serge Lafontaine, Stephen Davies Attending dinner: Eric Smith, Curt Dodd 6
  • 7. Lead to Win July-August Session of Phase II: Opportunity Development Day 6: Thursday August 27 Speaker and location Topic 7:45 a.m. Breakfast Meet and greet 8:00 a.m. David Hudson – • Introduction of external reviewers Talent First Network • Rules of engagement for external Tony Bailetti - Carleton University reviewers’ opportunity assessment (Suite 350) 8:30 a.m. Reviewers’ opportunity assessment (Case rooms 1 to 4 and Suite 350) • Group I Mobile applications • Group II Content and media • Group III Health services and technology • Group IV Software • Group V Consulting and applied technology 10:45 a.m. Tony Bailetti – Carleton University • LTW Phase III overview David Hudson – Talent First Network • Detailing Phase III (Suite 350) Note: attend only during times when your opportunity is not being assessed by external reviewers 11:40 a.m. Claude Haw – OCRI • OCRI benefits to startups (Suite 350) 12:00 p.m. Lunch 12:45 p.m. David Hudson – Talent First Network • Reviewers’ comments (Suite 350) • Phase III comments • Q&A 1:40 p.m. Erin Kelly – Ottawa Chamber of • Ottawa Chamber of Commerce Commerce benefits to startups (Suite 350) 2:00 p.m. Jean Ricard – DE-CLD • Technology startups: Advantage (Suite 350) Gatineau 2:20 p.m. Break – Lobby Suite 350 2:30 p.m. Tony Bailetti – Carleton University • Wine and cheese social for David Hudson – Talent First Network participants, faculty, associates, (Lobby Suite 350) reviewers and guests 3:00 p.m. Tony Bailetti – Carleton University • LTW Certificates of Achievement David Hudson – Talent First Network • Kicking off LTW Phase III and closing (Lobby Suite 350) Phase II 5:00 p.m. Departure Criteria and process for opportunity assessment: The criteria and process that external reviewers will use to assess opportunities on Day 6 have been set by representatives of the nine Strategic Associates of the Lead to Win program. 7
  • 8. Lead to Win July-August Session of Phase II: Opportunity Development Attending wine and cheese: Mayor Larry O’Brien, Associates, May-June and July-August Lead to Win participants, reviewers. 8
  • 9. Lead to Win July-August Session of Phase II: Opportunity Development 6. PARTICIPANTS ACCEPTED INTO DAYS 4-6 By name 1. Guyves Achtari 18. Sharon Lewinson 2. Bilal Ahmad 19. Tom Lewison 3. Nestor Amaya 20. Yi Li 4. Mihaela Andronic 21. Jeff MacDonald 5. Joe Babiarz 22. Adam McNamara 6. Ian Brown 23. Reinhard Messner 7. Jerry Carver 24. Art Munro 8. Terrence Chen 25. David Nadeau 9. Ben Cliffe 26. Kshirsagar Naidu 10. Daniel Crenna 27. Prakash Naidu 11. Don Ellis 28. Anoop Nannra 12. Alan Graves 29. Louis Payant 13. Kenn Hussey 30. Pat Seemel 14. Rob Johnstone 31. Dinesh Shah 15. Randy Jones 32. Donald Smeth 16. Chris Justus 33. Oscar Vargas 17. Marvin Krym 34. Tariq Zaid By opportunity area, room, and time of presentation I. Mobile II. Content/media III. IV. Software V. Consulting applications Health/safety and applied services and technology technology Case Room 1 Case Room 2 Suite 350 Case Room 3 Case Room 4 8:30 Nestor Amaya, Donald Smeth Don Ellis, Sharon Bilal Ahmad a.m. Kenn Hussey (Media Digital Alan Graves Lewinson, Tom (Margalla (Ultra Signage) (Elder care Lewison Works) inexpensive application (Rideshark) wireless thing) service provider) 9:00 Ben Cliffe, Daniel Crenna Prakash Naidu, Yi Li Mihaela a.m. Anoop Nannra (Lunarbits) Kshirsagar (Enterprise Andronic, Jerry (Mobile apps Naidu rights Carver suite) (Multipoint management) (Business stimulation) environment mapping and shaping) 9:30 Randy Jones Rob Johnstone, Reinhard Joe Babiarz, a.m. (Report away Louis Payant Messner Marvin Krym, mobile) (Learnetica) (ERP for ISO Guyves Achtari certification) (The unwired enterprise) 10:00 Jeff MacDonald Chris Justus Art Munro Ian Brown a.m. (Mobile (Biz Quiz) (Seven Day (Career search applications Office) engine) suite) 10:30 Adam Dinesh Shah David Nadeau Terrence Chen a.m. McNamara, (AuthorX) (Infoglutton) (Inefficiencies in Tariq Zaid software 9
  • 10. Lead to Win July-August Session of Phase II: Opportunity Development (Hosting for development business process) games and business applications) 11:00 Oscar Vargas Pat Seemel a.m. (Warehouse (Structured tracking) group facilitation) # of 5 5 2 6 6 groups 24 groups and 34 participants 7. DAY 6 OPPORTUNITY ASSESSMENT Introduction of external reviewers and start time External reviewers will be introduced to opportunity proponents at 8 a.m. on Day 6 and opportunity assessments will start at 8:30 a.m. sharp. Opportunity assessment: duration and time allocation Each opportunity assessment should last a maximum of 30 minutes. The Lead reviewer is responsible for keeping time. Each group of reviewers decides on how time should be allocated. This should be communicated to opportunity proponents as they arrive. The following time allocation is suggested: • Set up time and niceties: 2 minutes • Presentation: 10 minutes • Q&A: 12 minutes • Opportunity Assessment form completion: 5 minutes • Validation forms have been completed properly and collected: 1 minute Criteria For each opportunity, each reviewer will independently complete a form that has three parts: A, B and C. In Part A, the reviewer provides ratings from 1 (Strongly disagree) to 5 (Strongly agree) to the seven statements approved by the Strategic Associates of the Lead to Win program: Customer Value, Competitive and Partner Value. In Day 6, reviewers will rate the opportunity using the following seven dimensions. 1. CUSTOMER VALUE: Company’s market offer solves a problem or pain that is significant to identifiable target customers 2. COMPETITIVE: Company’s market offer delivers more value to target customers when compared to alternatives and alternatives are well understood 3. PARTNER VALUE: Company will provide good value to those channels and partners that help bring its market offer to customers 10
  • 11. Lead to Win July-August Session of Phase II: Opportunity Development 4. JOBS: Company can generate at least 6 good knowledge jobs in Canada’s Capital Region over the next three years 5. FINANCIAL: Company has a sound financial plan and founders have a sound plan to feed their families until company generates sufficient cash to pay themselves 6. FOUNDATION: Company will develop a strong foundation for future growth in Canada’s Capital Region 7. TEAM: Core team has what it takes to achieve its objectives over the next three years In Part B, each reviewer selects one of three statements that best reflects the opportunity’s readiness for Phase III: accelerate sales to first customers. The three options are: Green (Opportunity is ready for Phase III), Yellow (Opportunity needs to be improved; however the likelihood of first customer sale is good); or Red (Opportunity is not ready for Phase III). Proponents of opportunities that are identified as Red will not be invited to be part of Phase III of the Lead to Win program. In Part C, each reviewer provides substantive feedback to opportunity proponents. This feedback will be provided to opportunity proponents on an anonymous basis. Process Process to be followed: 1. Presentations are made only to the reviewers in the room assigned for such a purpose. Individuals who are not reviewers or opportunity proponents remain outside the room. 2. 30 minutes is allocated to each opportunity. 30 minutes is a hard limit. 3. Each group of reviewers has a Lead reviewer. The Lead reviewer is responsible for: • Distributing the Day 6 Opportunity Assessment Form to all the reviewers in the group • Assigning an ID codes to each reviewer. To guarantee reviewer anonymity, the ID codes will not be passed on to Lead to Win organizers • Keeping time • Running smooth opportunity assessments with participants and reviewers • Ensuring that reviewers properly complete the Day 6 Opportunity Assessment Form • Collecting and returning the Day 6 Opportunity Assessment Forms completed by reviewers • Dealing with whatever issues may arise during the opportunity assessments • Providing feedback on how (i) proponents can improve their opportunities and (ii) Lead to Win program can improve the opportunity assessment process 4. Each reviewer, including the Lead reviewer, rates each opportunity independently before the next group/individual is allowed into the room. 5. If reviewers and opportunity proponents wish to exchange cards, arrange follow ups, etc.; they should do so during lunch or the social and not take time away from the assessment process. 8. TIPS TO HELP PARTICIPANTS DELIVER SUCCESFUL DAY 6 PRESENTATIONS Use of slides 11
  • 12. Lead to Win July-August Session of Phase II: Opportunity Development Proponents of an opportunity are required to make a presentation to external reviewers who have very different backgrounds. We find that those who use slides perform better than those who do not. Thus, we suggest that participants use slides to anchor their presentations to reviewers, however, we do not mandate that they do so. When using slides to make a presentation, a participant should keep in mind the following tips: 1. Use fewer than 10 slides in a 10 minute presentation 2. The slides are not your presentation; they shouldn’t say everything that you will 3. Get rid of verbiage in slides, increase the content/(# of words) ratio 4. Face the reviewers, do not read what is on the slides. Delivery Whether or not slides are used, participants should keep in mind the following tips: 1. Focus on the key messages you wish reviewers to retain. Make crisp points; do not belabor a point. 2. Practice, practice, and practice the delivery of your presentation. 3. Hook your reviewers early; if reviewers are not engaged in the first three minutes, what you say later does not matter. 5. Get reviewers to buy into your core business; this is far more important than trying to convince them that you are the smartest person in the room. 6. Manage time properly. Limit presentation to specified duration. Don’t pretend you could have done a better job if you had more time to present. It is hardly ever the case that a presenter that delivers a bad 10 minute presentation can excel at a 2 hour presentation. 7. Clearly answer reviewers’ questions. Do not answer a question that was not asked. 8. Eliminate the use of jargon unfamiliar to reviewers; remember we have maximized diversity when selecting reviewers. 9. Explain why you do things, not just describe what you are going to do. The “why” is as important as the “what”. 10. Convince reviewers to help you; do not argue with reviewers. 11. Show your enthusiasm, passion and commitment for your business opportunity. Content that participants should include in Day 6 presentation A Day 6 presentation needs to provide enough information for reviewers to assess your opportunity in terms of seven dimensions: In Day 6, reviewers will rate the opportunity using the following seven dimensions. 1. CUSTOMER VALUE: Company’s market offer solves a problem or pain that is significant to identifiable target customers 2. COMPETITIVE: Company’s market offer delivers more value to target customers when compared to alternatives and alternatives are well understood 3. PARTNER VALUE: Company will provide good value to those channels and partners that help bring its market offer to customers 4. JOBS: Company can generate at least 6 good knowledge jobs in Canada’s Capital Region over the next three years 5. FINANCIAL: Company has a sound financial plan and founders have a sound plan to feed their families until company generates sufficient cash to pay themselves 12
  • 13. Lead to Win July-August Session of Phase II: Opportunity Development 6. FOUNDATION: Company will develop a strong foundation for future growth in Canada’s Capital Region 7. TEAM: Core team has what it takes to achieve its objectives over the next three years When producing the content of a presentation, participants should keep in mind the following tips: 1. Gain credibility. Describe your background, identify the potential customers and partners whose requirements you have incorporated into your ideas, and describe your successes to date. 2. Make clear what you will sell to customers. Identify the customers you target, and provide a simple explanation of what customers will buy from your company without using buzzwords (e.g., platform). Do not assume that the reviewers know what it is that you are developing and selling. 3. Explain the customer pain or problem right up front. Use examples to illustrate what failed and why. Be vivid – make the reviewers feel the customer's pain. 4. Describe how your offer fixes the customer’s pain or problem. Use examples to illustrate how your solution makes the customer’s pain go away or solves the problem. 5. Identify the value of your market offer to various stakeholders. Clearly illustrate the value you provide the different stakeholders who are part of the purchasing decision. Stakeholders include, but are not limited to: (i) user; (ii) economic buyer; (iii) infrastructure gatekeeper; (iv) organization that buys. Value to users may be important, but value to other stakeholders (especially those who pay) may matter more. Focus on value to customers, not on describing what your product does or what you are doing to build it. 6. Identify the value of your market offer to various stakeholders. Clearly illustrate the benefits you will provide your partners who will help take your offer to market. Use examples to ensure that the benefits to all stakeholders associated with the partnering arrangement are clearly understood and explain why these benefits are compelling. 7. Identify your offer’s points of difference for which customers will pay. Identify your competitors and what are your offer’s differentiators and why customers will be willing to pay for these differentiators. Define the points of difference relative to competitors that provide market offers similar to yours, market offers that are quite different from yours but solve the customer’s pain, and the alternative of “doing nothing”. 8. Identify your differentiation over the medium- to long-term. Describe your sustainable competitive advantage (e.g. do you provide more capability, cost less, or deliver faster than competition?). Explain whether or not what differentiates you from your competitors today is sustainable and will differentiate you from your competitors in the future. 9. Why buy from you? Make clear what will motivate customers to purchase from you rather than purchase from others or alternatively do nothing. 10. Describe the plan to enter the market. Clearly describe your market entry strategy and why it will be successful. 11. Act on global opportunities. Do not limit your thinking to small or local opportunities. 12. Identify your business model. Clearly describe the business model that you will use to grow and provide examples of successful companies that use a similar business model. 13. Declare what your nest steps will be. State what you know and what you don’t know and what you plan to do about it. 14. Sell the value of what you are doing. Spend the time selling the value of what you are doing and don’t spend too much time explaining the mechanics of what you are doing. Once you sell the value to reviewers, mechanics will be dealt with later. 15. Provide evidence your company can generate jobs. Explain what types of jobs you will create, how you will fund them and when you will create the jobs. 16. Explain how you will feed yourself and your family and pay company’s bills. You need to survive. Your company needs to raise capital or generate cash through revenue. Explain how you 13
  • 14. Lead to Win July-August Session of Phase II: Opportunity Development will accomplish these things. A detailed financial plan is not required. What you need to do is provide a high level plan to ensure reviewers that your family and company will be o.k. financially. 17. Team must have the right skills. Provide evidence that your team has what it takes to achieve your company’s goals. 8. DIFFERENCES BETWEEN DAY 3 AND DAY 6 OPPORTUNITY ASSESSMENTS Day 3 and Day 6 reviewers are asked to assess different things. Day 3 reviewers are asked to assess whether or not proponents of a business opportunity can: (i) clearly articulate their customer and value propositions and the key differentiators for which customers are willing to pay and (ii) are ready for Days 4-6: Operations. Day 6 reviewers are asked to assess the strength of the business opportunity and participants’ readiness for Phase III: Sales to first customers. Day 3 reviewers assess an opportunity in terms of three of the seven dimensions Day 6 reviewers will use. This means that being successful in Day 3 does not guarantee success in Day 6. While there is some overlap between the mix of Day 3 and Day 6 reviewers, the intent is to maximize reviewer diversity. The objective is for reviewers with diverse experiences to provide substantive feedback on a business opportunity multiple times. This helps build a stronger foundation for a business. 14

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