How to Submit an Application That Will Get Your Startup Noticed
Every year, 43North receives hundreds of applications from outstanding founders of seed-stage startups. Then, they go through three rounds of judging before we even decide who will come pitch on stage. So how do you make your startup application stand out from the rest? We’ll let you in on our little secrets.
The application is open until July 8, 2022, at 12 PM ET. Would you believe that most applications come in during the last 24 hours? By hitting submit early on in the application period, our judges have more time to thoroughly evaluate your application and can get to know you as the founder. Plus, you can reach out to our application team directly and ask questions specific to your startup before hitting submit.
Come with a real-world problem
What problems are potential consumers experiencing? How did the founding team realize this was a problem? Come with a very clear understanding of what dilemma your product solves and the exact type of consumer that could benefit from your concept.
Have a strong solution
Your product should be a direct solution to the problem you mentioned above. We look for products/services/technologies that address a unique need in the market and are superior to their competitors.
You need a product in the wild
You have to have a deployable product with a competitive advantage. We’re here to benefit seed-stage startups who are ready to scale. It’s important that your product is already gaining traction with customers. If you’re not there yet, come to our competition, learn more about what we offer our companies, and prepare to apply in the future.
We want to see how your business has scaled over time. From sales to investors, to hiring a team, call out the milestones in your growth. Show us a visual timeline that blows us away and makes us want to get some skin in the game.
Have a thoughtful business model
We need to know what your expenses are and how you make your money. Clearly show your Customer Acquisition Cost (CAC) and Lifetime Value (LTV), but keep it simple. While we know you may have multiple streams of income, show us the main source(s) of your revenue in an easy-to-understand format.
Be direct and concise
Yes, we’re asking for a lot of information, but fluff won’t be your friend here. Be as direct as possible with a short elevator pitch and clear, accurate numbers that help tell your story.
Show us your team
We’re looking for a dynamic founding team with deep domain expertise. Show off your knowledgeable, talented team and convince us that you’re the experts in your field. Why is your team uniquely qualified to build this business?
You should have a strong value proposition for locating your business in Buffalo. We know how special our city is, but is it right for your business? For your family? For your team? Let us know exactly why you want to grow your business and life in Buffalo.
Make sure we have your direct contact information
We can’t stress this enough. If we have questions, we need to reach you directly! Not your virtual assistant, your roommate, or your mom. Make sure we have a good phone number and email that you check regularly so we can be in touch!
Have questions? Reach out! Our application manager, Shannon, is here to help. Shoot her an email anytime: [email protected]