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2 | Stage | Name | Description | Relevant Exercises/Milestones | Years Experience / Year Established | Revenue / Funds Raised to Date | Team Size (Full Time & Paid) | On Application | What does this stage need to be succesful? | The Outcome for the Fellow | Relevant Watson Programs | |||
10 | EARLY | MISSING MIDDLE | 7 | Problem-Solution Fit | If leading a for-profit, has paying beta and/or gamma customers. If leading a non-profit, has repeat users that refer other potential users. | Pilot metrics collected Budget & Projections Proof of Revenue (even if minimal) | 2-3 years | A minimum of 10-25K is ideal. However, there are ventures that have had significnat impact without raising any funds. These community driven organizations would still be a good fit. | 0 - 2 Full time paid employees is average. If none, take into consideration part-time and/or volunteer numbers. | "I have active customers or users benefitting from my service" | The goal is "pitch your venture better". Will walk away with a video and pitch. You will get better at pitching. | Ford, WUF, Truist, VA, BMO | ||
11 | ADVANCED | 8 | Product-Market Fit | 3 B2B customers/organizational donors or 50 B2C customers/individual donors | Clear idea of total addressable market Multi-year financial projections backed by current track record Relatively consistent monthly revenue | Less than 5 years | MAX $200K raised or $200K in grants | Max 10 Full Time Employees. | "We have many customers and consistent revenue" | The goal is "pitch your venture better". Will walk away with a video and pitch. You will get better at pitching. | Ford, WUF, Truist, VA, BMO | |||
12 | 9 | Growing | Consistently increasing monthly revenue HR Systems | Ask about monthly revenue | 10+ | "My team is growing and we have consistent revenue" | Ford, WUF, Truist, VA, BMO | |||||||
13 | 10 | Scaling | More than 12 months of cash runway to pay all operating expenses and has developed at least a first draft of their capital expenditure plan." | 5 Year Strategic Plan Expansion Feasibility Studies Financial projections for expansion to new markets | “I’m expanding into other geographical areas / new markets” | N/A | ||||||||
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