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2022 Crab Pot Competition Application
You must complete an application for your team to be considered for the Crab Pot Pitch Competition.
There will be two tracks this year:
The Tech Venture Track Who: Anyone with a cutting edge, disruptive and innovative technology can register to compete! Pitches can be for new business ventures, products, or processes. Individuals can pitch ideas for brand new businesses. Existing enterprises can pitch ideas for new products. Ventures with high potential for scalability.
Main Street Track Who: This track is for small businesses with revenue and/or initial customers but not focused on scale. Ventures of any stage with at least $1,000 in lifetime revenue. Ventures that intend to remain local or that are not focused on scale are encouraged to compete in this track. Must be innovative.
The application consists of a series of questions about you and your business as well as a pitch deck.
If selected for the Crab Pot Pitch Competition, your pitch should be a FIVE - minute presentation providing a brief overview of your business idea. It is meant to help you—as an entrepreneur— to practice and hone your ability to verbalize and sell the idea to early stage investors such as friends and family, angel investors and venture capital firms. The key is to share your passion and enthusiasm for your idea. Your pitch deck should be short (no more than 5-7 slides) and to the point. Some topics to consider including in your pitch deck are:
What problem are you trying to solve? How big is your problem? Talk about addressable market size. What is your solution to the problem? What is the value proposition for the customer? Who are your competitors and why is your solution better? How will you make money? What are your revenue stream(s)? Marketing and distribution strategy? Management team—who? What backgrounds and experiences do they bring? Current traction–do you have existing revenue? Plan moving forward—how will you use the prize money to grow your business and what are your targets for the next six months?
