Innovation Pathway Advancement (Walk to Run) Self-Checklist
<aside> ➡️ IMPORTANT, before applying: READ the criteria below before applying and make sure you have the information required in your deck. Once you apply, you will be required to book a dry run/feedback session with the Program Director. Only teams who have met with the Program Director will be approved to book an Investment Panel session.
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<aside> ➡️ Apply to pitch for the Run Stage here
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<aside> 💡 Before applying to the stage… You have identified a real, significant problem faced by stakeholders and developed a solution that effectively addresses that problem for them (which you know from stakeholder feedback). We call this “problem/solution fit.”
Once in the stage… You are developing a launchable version of the solution, and defining the strategies you'll need to build a venture to deliver it.
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<aside> ➡️ IMPORTANT: If you want to apply to an investment panel to advance from Walk to Run, you should work with your coach or Founder-in-residence to determine if you have all of the following information in your pitch deck, and the extent to which that information sufficiently addresses the criteria below.
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The investment panel will consider the following to assess whether or not you have achieved problem/solution fit and are ready to move into Run.
Articulated Problem Statement - You can present a clear explanation of the stakeholder, an action or goal the stakeholder is trying to achieve, a pain point or hinderance to accomplishing it, the cause, and the ramifications. You can share your own innovative insight to illustrate how you arrived at the opportunity and why you care. Remember, the panelists did not see your Application pitch, so you need to cover this again (and update it if it has changed since you first applied)
Solution Proposal and Evidence of Efficacy - You have conducted experiments to find a way to help customers overcome the problem or achieve their goal. You have a prototype, PoC, or other high-fidelity demonstration that you’ve used to get feedback from stakeholders on the solution’s efficacy and their willingness to pay for it (though you may not yet have set pricing). For social impact teams, you have validated how the components or steps in the workflow (e.g. the process) lead to the impact or outcomes (e.g. improvements in X, Y, Z) that your beneficiaries (e.g. people you’re trying to serve) are looking for.
Stakeholders & Segmentation - You have defined your stakeholders (users, economic buyers, champions, etc.) and can explain their interest, influence, power, and potential impact on the success of the venture.
You have clear segmentation defining a specific, well-understood group of prospective customers who share the same pressing problem you aim to solve. You can describe the initial segment you will focus on (corner-piece or beachhead market segment).
Market Size - You have a data-backed view of the market size and the value of a potential solution, likely in the form of Initial TAM/SAM/SOM estimates.
Differentiation, competition, landscape - You have good knowledge of who your direct and indirect competitors are, what they offer, how well they meet your stakeholders’ needs, and an initial sense of your unique value proposition compared to existing options. You know why you’ll be the preferred solution for stakeholders.
Team Skills Gap Analysis and Plan - You understand your own strengths and skills and those of your co-founders (if you have them). You know what skills are not present on the team and have a plan to add them through hiring or expanding the founding team.
The panel will also assess your presentation. You should have a polished slide deck and well-rehearsed presentation delivery. You will need to handle Q&A by providing well-prepared answers, acknowledging gaps in knowledge respectfully, and demonstrating active listening to panelist inquiries and feedback.
The Investment Panelists will be hearing about your venture for the first time, so storytelling is a critical part of communicating your business effectively. A storytelling technique that can make your pitch for the Innovation Pathway more effective is to do the following: