Innovation Pathway Details for Current Teams

Ready to Move Up?

The Investment Panel is like a mock Board of Directors. Following a presentation (of up to ten minutes) and a ten-minute Q&A, the panelists will decide if your team has made sufficient progress and meets the criteria to advance into the next stage of the Innovation Pathway. Explore this page to learn the requirements you’ll need to fulfill to advance.

Upcoming Investment Panel dates:

Fall 2026:

September 16
October 7
November 4
December 9

Spring 2027:

January 20
February 17
March 17
April 7
May 5

Sessions are for teams advancing from Walk to Run or Run to Fly.

Apply to pitch at an Investment Panel

Run Stage Requirements

IMPORTANT, before applying:

READ the criteria below before applying and make sure you have the information required in your deck.
REVIEW this self checklist to ensure that you meet the requirements to advance from Walk to Run.

Criteria for Advancement from Walk to Run

Teams may advance from Walk to Run once they have found problem/solution fit. Each of the elements below need to be explained and presented clearly with data to show how they were developed. This is the first time the Investment Panel is meeting your venture, so treat them like prospective investors: help them understand how you have created a novel solution to a large, underserved problem.

Well articulated problem/opportunity: Building on your initial program application, you can clearly explain the stakeholder, an action or goal the stakeholder is trying to achieve, a pain point or hinderance to accomplishing it, the cause, and the negative ramifications of inaction.
Solution Proposal: You have gone through multiple iterations of potential solutions and conducted experiments to find the best way to help customers overcome the problem or achieve their goal. You have produced a prototype, proof-of-concept, or other high-fidelity demonstration that you’ve used to get direct feedback from stakeholders on the solution’s efficacy. You have made revisions to your initial solution idea to refine it based on feedback from real stakeholders.
Stakeholders & Segmentation: You have mapped stakeholders who will play a part in the successful adoption of the solution, and you can explain their interests and needs in the process of selecting and adopting the solution. You have defined at least one target segment for my venture using a combination of attributes (demographic, behavioral, firmographic, etc.), and you can describe a corner-piece market (aka beachhead segment); a sub-segment that you intend to focus on initially when first launching the venture.
Market Size: You have a view of the market size that has been determined through research, the sources of which you can cite clearly. You understand the value of a potential solution, likely in the form of Initial TAM/SAM/SOM estimates.
Differentiation, Competition, Landscape: You have in-depth knowledge of your potential direct and indirect competitors, what they offer, and how well they meet (or fail to meet) stakeholders’ needs. You have an initial sense of how your solution is meaningfully better than the existing alternatives, and you know why you’ll be the preferred solution for your stakeholders.
Team Skills Gap Analysis and Plan: You understand the strengths and skills that you and your co-founders (if you have them) bring to the venture. You also know what skills are not present on the team, and have a plan to add them through hiring or expanding the founding team.
Impact: (For social impact/non-profit ventures) What are the outcomes you are going to measure moving forward to see if your solution has a social impact? How will you measure those?

Presentation — The Investment Panel will also assess your ability to clearly and succinctly communicate your ideas.

Fully and clearly explain all of the relevant concepts.
Effectively navigate the Q&A by providing well-prepared answers, acknowledging gaps in knowledge respectfully, and demonstrating active listening to panelist inquiries and feedback.

Storytelling in your pitch for Run

Storytelling is a critical part of communicating your business effectively. Make your pitch for the Innovation Pathway more effective by:

Introducing the core aspects of the business: what is the problem you’re solving and for whom?
Presenting your target customer and their unmet needs / problem, what did you go out and do to test what you believe to be true?
Demonstrating what you learned from your tests, prototypes, experiments or additional customer discovery. What surprised you and changed? How did that learning affect the direction of the business?
Explaining what’s next for you given what you learned. What next experiment, test, or milestone are you trying to reach?

Answering questions during Q&A for Run

Remember the following during Q&A time for your pitch:

We’re Not Out to Get You: The panelists are here to help, not to trip you up. Their questions are aimed at understanding your business better.
You Don’t Have to Know Everything: It’s okay if you can’t answer all the questions on the spot. A thoughtful “I don’t know, let me get back to you” can be more valuable than a rushed or incorrect answer.
Come Prepared: While you don’t need to know everything, coming well-prepared will help you navigate the Q&A session more effectively.
Feedback is Valuable: Take note of the questions and comments as they offer important feedback. Consider how you will track this during the session.
Use Questions as Future Guidance: The questions you receive can serve as indicators for areas you might need to clarify or elaborate on in future pitches.

Lastly, watch this video about the difference between promotion and prevention questions, and how you can listen for them and effectively respond

Fly Stage Requirements

IMPORTANT, before applying:

READ the criteria below before applying and make sure you have the information required in your deck.
REVIEW this self checklist to ensure that you meet the requirements to advance from Run to Fly.

Criteria For Advancement from Run to Fly

Teams may advance from Run to Fly once they have a launchable solution; when your solution is ready to generate revenue & create sustained impact, you know how you’ll reach customers and transact with them, and you know where you need to go next. Each of the elements below need to be explained and presented clearly to the Investment Panel with data to show how they were developed. The Investment Panel is already familiar with the basics of your venture (from your Run pitch), so treat this like a Board of Directors meeting: explain what progress you’ve made since your last meeting to get your venture ready to scale.

V1 Solution: You have a working version of the solution that customers could start using and get value from. You have taken direct customer/user feedback to iterate on the solution and improve on the initial version(s).
GTM Strategy & Plan: You have a thorough plan for how you will reach the market (starting with my corner piece segment), and you have at least the minimum pieces in place to start executing on the plan – a website, content, prospect communication channels, etc.
Pricing & Business Model: You know your economic buyer, how much they are willing to pay, and how often. From primary and secondary research, you have developed a clear pricing model, and you are ready to start accepting payment for the solution (sales transaction process is designed and in place). You understand the venture’s expenses, and how they align with key milestones (launch, expansion, etc.). For nonprofits, you know the funding sources (earned and/or contributed) that you will be seeking support from, and have some evidence that you can receive it.
12 Month Roadmap: You have set the venture’s priorities for the next 12 months. This includes a prioritized roadmap for enhancing the product/solution (features), GTM initiatives, team expansion, etc.
Risk Mitigation Plan: You have identified any major obstacles that the venture needs to overcome to be successful. This includes IP, technical, regulatory, market, manufacturing, and other risks. You have assessed their potential impact and developed action roadmap for mitigation.
Financial projections & Funding Plan: You have created 3-year projections for revenue, costs, and profits, and can explain how you arrived at those projections. You know the venture’s cash needs and have a plan for securing funding to provide a cash runway of at least 12 months.
Impact (for social impact teams): You can describe the impact (outcomes) my solution will have, and how that impact will be measured.

Presentation — these factors have to do with your ability to clearly and succinctly communicate your ideas to the investment panel

Clearly explain all of the relevant concepts
Provide additional details if needed (e.g. a P&L spreadsheet to expand on the financial information you summarize in the presentation
Effectively navigates the Q&A by providing well-prepared answers, acknowledging gaps in knowledge respectfully, and demonstrating active listening to panelist inquiries and feedback.

Storytelling in your pitch for Fly

Storytelling is a critical part of communicating your business effectively. To make your pitch for the Innovation Pathway more effective you should:

Introduce the core aspects of the business: what is the problem you’re solving and for whom
Highlight your target customer and their unmet needs / problem, what did you go out and do to test what you believe to be true?
Demonstrate what you learned from your tests, prototypes, experiments or additional customer discovery. What surprised you and changed? How did that learning affect the direction of the business?
Explain what’s next for you. What next experiment, test, or milestone are you trying to reach?

Of course, along the way, you need to address the key aspects of the business, such as your market size, your business model / revenue model, your team, etc. But, the structure of “here’s what we believe, so here’s what we did, here’s what we learned from that, and so here’s what we’re doing next” can go a very long way to signaling to your audience that you are an effective learner. That’s crucial to being successful as an entrepreneur!

Answering questions during Q&A for Fly

Remember the following during Q&A time for your pitch:

We’re Not Out to Get You: The panelists are here to help, not to trip you up. Their questions are aimed at understanding your business better.
You Don’t Have to Know Everything: It’s okay if you can’t answer all the questions on the spot. A thoughtful “I don’t know, let me get back to you” can be more valuable than a rushed or incorrect answer.
Come Prepared: While you don’t need to know everything, coming well-prepared will help you navigate the Q&A session more effectively.
Feedback is Valuable: Take note of the questions and comments as they offer important feedback. Consider how you will track this during the session.
Use Questions as Future Guidance: The questions you receive can serve as indicators for areas you might need to clarify or elaborate on in future pitches.

Watch this video about the difference between promotion and prevention questions, and how you can listen for them and effectively respond

Innovation Pathway Details for Current Teams

Ready to Move Up?

Run Stage Requirements

Fly Stage Requirements

Example Materials

Requirements & Tips For Advancement