Proof of Concept Round
Once you register, it’s time to get to work! For the next few weeks, your team will go about making as much progress as possible toward strengthening your case that your idea is a good (and viable) one.
Proof of Concept Round Submission Requirement
Your Proof of Concept Round Submission consists of the following three parts. When you’re ready to submit, the form is below.
PART 1 – PowerPoint Presentation: In no more than 15 slides, summarize each of the nine blocks on the Lean Canvas as it pertains to your idea. PowerPoint presentations must be saved as a PDF and uploaded below.
PART 2 – Video Submission: In a video that is seven minutes or less, tell the WVB Review Panel a compelling story that makes them believe that your idea is a BIG idea. Weave in aspects of the PowerPoint presentation that support your cause.
The video is also where you want to highlight what you’ve done to strengthen your belief that this is a viable venture. If your team did a ton of interviews, tell the WVB Review Panel about the insights that you have discovered. If you made a prototype, show it off! Explain the changes in thinking that your team has experienced from the initial Lean Canvas and how you’ve pivoted. Finally, make the video interesting!
Videos are to be uploaded to YouTube and the link to view the video will be submitted below. (You may categorize the video as “Unlisted” if you do not want the public to view it while still allowing the WVB Review Panel to view it.)
PART 3 – Submission Statement: This Submission Statement signed by all team members must be uploaded below.
The WVB Review Panel will choose the TOP EIGHT TEAMS to compete in the Final Battle based on this judging rubric.
Feedback will be provided to the finalist teams in order to guide them as to how they should proceed to strengthen their business models.
Note: There will not be a specified number of Social vs. Commercial teams. The top eight scoring teams will advance.
Pro Tips for Success
The path to proof of concept is up to you, but following are a few suggestions that you should consider following.
One of the most effective (and fun!) ways to build a startup is testing your ideas with customers, “pivoting” your ideas based on feedback, and repeating this process until you receive market validation.
In order to do this, you’ll need to get out of the building (and on the phone and on Skype/Hangouts/Video Call Service of Choice), and talk to potential customers to test the guesses that you made on your initial Lean Canvas. As you gather meaningful feedback from this process, change the Lean Canvas accordingly. You’ll be amazed at how much stronger your case becomes as you accumulate data to prove your assertions!
Build a Prototype
Building a prototype is not only fun and helpful for the next round of the competition, but you can use it with potential customers to see how they respond and interact with your idea.
If the product is digital, the team can a use prototyping/wireframing tool such as moqups, balsamiq, axure, or proto.io. If the product is physical, the team should consider a rough physical prototype. If the business is a service-based business, put together a flow chart that diagrams the customer experience.
Do Some Research!
Doing research will help you to back up your argument that this is a big idea. While Google can be your best friend here, you should also make the best use of the library and its helpful staff. The library has a vast array of market research tools including databases that you normally have to pay to access, so make sure that you avail yourself of this amazing resource.
Find A Mentor
It always helps to get the advice of someone who has already walked the path that you’re starting to follow. If you’re interested in mentorship but need help identifying a mentor, please contact Mrs. Stillwaggon or Professor English. We’ll do our best to find someone who can help you.