As you refine your business model you should consider creating an elevator pitch:
You are encouraged to play an active role in the marketing of your idea or invention. The Innovation Institute will work closely with you to help to develop your value proposition into a very concise and simply worded description of your innovation and the business opportunity it provides. Some people refer to such a description as an elevator pitch.
As the name suggests, the premise is simple: You get into an elevator with a potentially valuable industry partner or investor. Now you have the time it takes to ride an elevator to capture that person’s interest in your innovation and your value proposition, along with what you need to succeed.
The pitch should include the following:
- Brief description of your innovation (non-confidential and in layman’s terms)
- Who the innovation is for – your target market
- What problem your innovation solves
- How it is better than existing solutions