Stage 2 will see the successful applicants present their business to a panel of experienced judges at one of three regional heats in June. The event will take place in front of an audience and give you the chance to talk about and potentially expand on your business canvas that you submitted as part of the ﬁrst stage of the competition. You’ll have ﬁve minutes to present which will be followed by a five minute question and answer session. Information around the location and timings of these events will be provided to successful applicants.
Up to 12 businesses will then be selected to progress to the ﬁnal stage. These businesses will receive £500 of seed funding and a place in the national final. A further 6 businesses will also be selected by the audience at the various events in June and will compete for a separate Peoples Choice prize at the final. All entries that do not progress at this stage will receive a certificate congratulating them on being shortlisted and a start-up gift set.
Your pitch will be marked on your ability to demonstrate an understanding of the following four areas:
1. Your customers.
2. Your product and/or service and the impact it has on customers and communities.
3. Your business model and its viability.
4. What the impact of winning the competition would be.
Please note that although some of this information would have been submitted earlier in the competition, the expectation is that presenters should use the time to ensure the judging panel have a clear idea of how the business works and its viability. Each of the areas above will be considered by the judging panel who will then select the businesses that will progress at the event.