Innovation Challenge Application

This entire form will need to be completed in one sitting; you aren’t able to save and come back to it. To make it easier, you may download the application requirements to reference offline.

2025 Applications Have Closed

Name

First

Last

Please list the lead applicant's name.

If there are additional members of your team, please feel free to include their names.

Company / Organization Name, if applicable

Initiative / Venture Name

Mailing Address

Address Line 1

Address Line 2

City

State

Zip Code

Phone

Website

Social Media

If your organization or initiative has social media channels, please include the urls.

Business Overview / Elevator Pitch

Note: This will also double as the “public summary” of the plan used in promotion of and other public forums related to the competition.

How will you use this prize money if selected as one of the three winners? How would winning this competition impact your plans to launch or further this initiative / venture?

Please provide financial documentation including overall budget and how this monetary award fits in, and ideally address or include the below:

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Revenue model and financial predictions; Budget, including needs, methods, and use of funds; Required resources and sources; Breakeven analysis; Projections and long-term profitability; Timeline of anticipated expenditures

Your business plan for your initiative / venture must address all 12 of the following elements:

Note: Bullets and questions included under each element are meant for guidance and context, but do not all need to be answered or addressed individually.

Opportunity Statement and Mission

What is the specific problem or need you’re addressing?
What is the mission for your initiative?
What is the scope of the problem being solved
What is the current state; Where are you starting from?

Business Model

Provide details about your initiative (product or service); How will it work?
How will this generate revenue?
What does sustainability look like?
Is there an opportunity for duplication and scale? What does that look like?
What is the value proposition?

Description of the Market

Define the characteristics of the market and description of its customers.
Is there a genuine need for the initiative (product or service)?
What is the size and growth potential of the market?
Who will pay for your initiative (product or service) and what is their willingness to do so?

Team

Provide details about the team behind the initiative, including:
- Experience, both broadly and as relevant to this venture and this industry
- Expertise
- Commitment
- Willingness to get this going
- Entrepreneurial experience
- Track record of success
How is everyone’s time being allocated? Is anyone focused on this full time?

Technology

Have you developed unique or innovative technologies?
Does your technology have the potential to disrupt the industry?

Diversity, Equity, and Inclusion

How will your initiative touch unserved, underserved, or marginalized populations or reduce inequities in the health care workforce in NH?

Competition

Who are your current competitors and competition in the market?
How about potential competitors?
What’s your initial competitive advantage?
What is your competitive response?
Provide an analysis of strengths and weaknesses.
How do you compare to your competitors? What other advantages do you have?
What are the potential substitutes for your initiative (product or service)?

Marketing Strategy

How will you generate sales?
What does your marketing plan entail?
Address price, product, place, and promotion.
What resources do you have behind the marketing plan?

Progress and Traction

What progress has been made so far?
Have you achieved any milestones?
- Minimum viable product, customer agreements, channel partnerships, other funding, etc.
How much traction have you gained?
Have you made connections made with external stakeholders? What do those look like?
Provide a timeline of where you’ve been and where you’re going (future more deeply addressed in #12).

Impact

What is your quantifiable intended impact?
How many workers will be recruited or retained?
Will this create jobs?
Will there be community impact? Some other kind of impact?

Innovation

What makes this idea unique?
How are you proposing solving a problem in a new way?
Is the technology or business model innovative? How?
How do you differentiate yourself from existing solutions?
Describe the creativity behind this initiative.

Future

What are the future plans for this initiative? Do you have milestones for the next 3, 6, 12, 18, etc. months?
How will you measure success?
What is your entrepreneurial exit strategy?

Upload Your Business Plan (including all 12 elements above).

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If selected as a semi-finalist, I/we commit to have representation from the initiative / venture for the pitch event on 4/1 date and the final winner announcement event on 4/15 date.