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Please review the Advancement (Run to Fly) Self-Checklist before applying
➡️ Apply to pitch for the Fly Stage here
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<aside> 💡 Before applying to the stage… Your solution is ready to generate revenue & create sustained impact, you know how you’ll reach customers and transact with them, and you know where you need to go next. We call this “a launchable solution.”
Once in the stage… You are gaining traction by getting your solution into customers' hands (and getting paid for it)!
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<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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The investment panel will consider the following to assess whether or not you have a launchable solution and are ready to move into Fly. Note: all requirements of Walk and Run are needed at this stage. If you have changed anything about your venture (segments, market size, solution details, etc.) you will need to update the panelists on those changes.
V1 Solution - You have a working version of the solution that customers could start using and get value from. You have taken direct customer/user feedback to iterate on the solution and improve on your initial solution proposal.
GTM Strategy & Plan - You know how you reach your customers and are ready to start executing on the plan. You have at least the minimum elements in place (website, prospect communication channels, etc.).
Pricing & Business Model - You know your economic buyer, how much they are willing to pay, and how often. From primary research, you have developed a clear pricing model and are ready to start accepting payment for the solution. You understand the venture’s expenses, and how they align with key milestones (launch, expansion, etc.). For nonprofits, you know the funding sources that you will be seeking support from and have some evidence that you can receive it.
12 Month Roadmap - You have set your venture’s priorities for the next 12 months. This includes a prioritized roadmap for enhancing the product/solution (features), GTM initiatives, team expansion, etc.
Risk Mitigation Plan - You know what obstacles you need to overcome to be successful. You have identified IP, technical, regulatory, market, manufacturing, and other risks. You have assessed their potential impact and developed action roadmap for mitigation.
Financial projections & Funding Plan - You have a 3-year projection for revenue, costs, and profits and can explain how you arrived at those projections. You know your cash needs and have a plan for securing funding to provide a cash runway of at least 12 months.
Impact (for social impact teams) - You can describe the impact (outcomes) you think your solution will have and how you plan to measure that
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.
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:
Of course, along the way, you need to address the key aspects of the business, such as your market size, your business model / revenue model, your team, etc. But, the structure of “here’s what we believe, so here’s what we did, here’s what we learned from that, and so here’s what we’re doing next” can go a very long way to signaling to your audience that you are an effective learner. That’s crucial to being successful as an entrepreneur!