A new aspect of IdeaFunding 2018 that the committee added were Morning Pitch Competitions. With four categories, with at least four teams in each, we were able to thus expand the value, reach, and impact for entrepreneurs and their teams in Tucson.
The categories were:
IDEA/VALIDATION STAGE PITCH ROOM:
These early-stage startups are seeking to validate their product and business idea. These companies have conducted preliminary customer interviews and market research. They may have designed a potential solution, but they are in the process of validating the problem they hope to solve and their target customer.
$1,000 Cash Prize sponsored by TEP
Additional mentorship and/or services valued at up to $5000 based on needs sponsored by Startup Tucson
PROTOTYPE STAGE PITCH ROOM:
These early-stage startups are continuing to validate their product and business. The teams have created a light-weight solution (MVP) or a private beta and are working towards product/market fit.
$5,000 Cash Prize sponsored by Arizona Commerce Authority
Additional mentorship and/or services valued at up to $9000 based on needs sponsored by Startup Tucson
LAUNCH STAGE PITCH ROOM:
These startups that have been working with customers in a testing phase, have recently launched and are approaching product/market fit. The team is established and has active users. They are experimenting with their go to market strategy and working on financial pro forma.
The top teams will advance to the evening Mainstage Competition for a chance to win the $25,000 grand prize, sponsored by COX Business.
BIOTECH PITCH ROOM:
These startups are working in the biotech area and are in various stages of development.
The top team will advance to the evening Mainstage Competition for a chance to win the $25,000 grand prize, sponsored by COX Business
GROWTH STAGE PITCH ROOM:
Growth Stage companies have launched, are working with active customers and can demonstrate early product/market fit. They are now exploring scaling tactics, have an established go to market strategy and a defensible financial pro forma.
The top two Growth Stage teams will advance to the evening Mainstage Competition for a chance to win the COX Business $25,000 grand prize. Judges may select additional teams from this group to pitch in the Mainstage Competition.
All companies pitching as part of IdeaFunding in 2018 have completed a two-part pitch training to help their preparation for their pitch. A big thank you to our IdeaFunding Pitch Committee and Mentors for helping these entrepreneurs prepare and to our 2018 Morning Judges for their time and expertise in helping to select the winners!