Describe the product or service to be sold by the company and the customer problem that it solves (i.e., the need). Do you know potential market size?
What are the current and anticipated solutions to the problem, i.e., the competitive products or services? Why is your product or service better than the competition, and why will it have a sustainable competitive advantage? Are there any significant barriers to entry?
Describe the underlying technology and what needs to be done to develop the intellectual property position further. Do you have IP protected i.e. a patent or options? Was a university or corporate employee involved or resources used in the creation of the technology?
What is the status of the development of the product or service? What are the near term activities and key milestones that are required for the development of the product or service? Are there any key alliances necessary?
How will the company generate revenue? Describe your marketing and sales strategy for capturing and defending significant market share. What are your profit expectations?
Describe briefly the role of current participants and give their relevant background to their ongoing involvement in the product development or proposed company.
Describe any funding to date, the dollar amount, use of the funds, and the source.
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Should you receive services funded by the Local Development Finance Authority (LDFA), you represent that your principal place of business is located in the City of Ann Arbor or the City of Ypsilanti, or you agree to join the SPARK Central Innovation Center or SPARK East Innovation Center until you determine where your principal place of business is to be established;
Any engagement for services is non-exclusive, and SPARK is free to provide similar services to other clients, and you are free to obtain similar services from another provider;
The LDFA may audit the services provided to you, any agreement regarding confidentiality notwithstanding;
and You have been informed of SPARK’s conflict of interest policies.