5 Tips for a Successful Application
F10, Switzerland’s premier FinTech Startup Incubator and Accelarator, has the pleasure of announcing that applications for the Summer 2017 Session of F10’s P2: Prototype to Product Program will open tomorrow, December 1st!
The P2 Program aims at assisting 10 selected Startups to bring their initial prototypes to market. It will run over a period of 6 months and will be held partly online and partly at F10’s offices in Zurich, Switzerland.
This will be the third such batch run by F10, with the first one having cumulated in a Startup company’s product having successfully been brought to market; and the second batch currently running through the Winter of 2016/2017.
1. Focus on the customer problem
Make sure that when you present your Pitch to F10 you are well versed in it to the point that reciting it comes naturally. Make sure the Pitch contains the necessary information such as customer problem you try to solve for your target group. Tell us your unique approach to solve that problem and let us know what the benefits are for your customers. Do not focus to much on the technical solution, we will challenge that at a later point.
2. Introduce your Team
More than anything, a Startup ultimately is a team of people trying to designed, to create new products and services under conditions of extreme uncertainty. We want to know who those people are, what motivates them and what have they achieved. What are their talents and passions? Are they all willing and able to work 100% for the Startup during the 6 months of the program?
Fundamental activity of a start-up is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere. We believe that all successful Startup processes should be geared to accelerate that feedback loop. We want to know what your Startup has achieved so far? Is this your first Prototype? Have you had other before? Have you showed it to customers? Don’t be afraid to share your prior failures as well as your successes – failure makes for experience! Startups exist not just to make stuff, make money, or even serve customers. They exist to learn how to build a sustainable business!
4. Keep it Simple
We know this is easier said than done, but present us with your ideas and prototypes like you would to a friend. Don’t weigh your Pitch down with excessive technical details, and don’t try to dazzle us with overly floral marketing language.
5. Know your Incubator / Accelerator
You’ve most likely already done your homework on F10 if you are reading this. If not, what are you waiting for? Make sure that we are a perfect fit for you before you apply for the P2 Program!