You are required to come up with a pitch for your innovative idea and prepare to pitch it to investors. The purpose of a pitch is to tell your story in an organised way that is understandable to your audience. Refer to section 9.6.2.3 of your prescribed textbook and ensure that you have addressed each of the 11 points. Your pitch should be in the form of a PowerPoint presentation lasting no more than 10 minutes (therefore you are required to practise your pitch before submission). Remember that you do not have to include everything you are going to say in your presentation. SECTION A THE INTREPRENEURIAL IDEAS AND CONTEXTUAL NATURE OF ENTREPRENEURSHIP 9.6.2.1 Pitching practice Entrepreneurs may create or make use of oppor- runities to present their business case to stake- holders, such as investors or collaborators. Such opportunities usually allow presenters a few minutes to convey their message to one or more decision makers and there may be other entrepreneurs pitching for the same opportuni ty, which puts pressure on presenters to pres ent their case well enough to win. Feedback from successful presenters, panel members and observers suggest that the following consider ations may make the difference between success and failure: 9.6.2.2 Before the pitch The purpose of a pitch is to tell your story in an organised way that is understandable to the audience and to meet their criteria for making a positive decision. Knowing your audience and what they will be looking for is good. Planning for pitching is case-specific because each case and audience differs. Do your homework and practise. It is natural for presenters to be nervous - channel this energy towards your audience and message. Know what you want and select a process and get you there in the time allowed, which i may be only a few minutes. Place yourself in the audience's position and list the questions they might have and have answers for these. Understand that presenting a pitch is like sell- ing a story with a strong vision of what the future would look like if the audience bought into the idea. The story covers "why this, why us and why now?" (Warner, 2016) as will be discussed next. 9.6.2.3 During your pitch Explain what the idea or business does at a simple level. Explain the problem or pain it deals with in the market. Convey the features and benefits of your offering and why it is new or different. Van Schaik 110 Pen Describe what makes you qualified s viate the pain, which may include exper skills and infrastructure or other assets Indicate that you know the market, its size and how it operates, and we c ble share you can attain of it in a tea time frame Indicate that competitors in the targa ma (direct and indirect) are well underwod Communicate the business model walder, 2010), for making money. In the intended price and margin if approp (sometimes requested separately). Demonstrate that your opportunity in investment that offers a good return of the risks being taken. Describe how the total investment is mad and will be used. Should you be interrupted, listen to the tion and make sure you address their ies Suggest to the audience what you want the do next, such as finding out more, going website, watching a video, contacting you The next section brings the previous sections together by emphasising leadership and manap ment issues in innovation. 9.7 LEADING AND MANAGING INNOVATION 9.7.1 People innovate- leadership matters Despite the technological advancements discussed before, innovation remains mostly a human a ity that relies on human awareness, sense ma ing and creative conduct in a given context. The effect of leadership practices on innovation pe formance has been studied and it is becoming increasingly clear from research findings th innovation requires leadership competencies th are not normally associated with operational management and hierarchical power structu (Hill, Brandeau, Truelove & Lineback, 2014). Innovators/entrepreneurs who wish to su lish firms that can sustain innovation over I have to understand their role as leaders. I vation leaders need to focus on the willingnes and the ability of the people to innovate, ingness relates to a sense of community that de leader needs to establish through clarity of par pose, shared values and the rules of engagem You are required to come up with a pitch for your innovative idea and prepare to pitch it to investors. The purpose of a pitch is to tell your story in an organised way that is understandable to your audience. Refer to section 9.6.2.3 of your prescribed textbook and ensure that you have addressed each of the 11 points. Your pitch should be in the form of a PowerPoint presentation lasting no more than 10 minutes (therefore you are required to practise your pitch before submission). Remember that you do not have to include everything you are going to say in your presentation. SECTION A THE INTREPRENEURIAL IDEAS AND CONTEXTUAL NATURE OF ENTREPRENEURSHIP 9.6.2.1 Pitching practice Entrepreneurs may create or make use of oppor- runities to present their business case to stake- holders, such as investors or collaborators. Such opportunities usually allow presenters a few minutes to convey their message to one or more decision makers and there may be other entrepreneurs pitching for the same opportuni ty, which puts pressure on presenters to pres ent their case well enough to win. Feedback from successful presenters, panel members and observers suggest that the following consider ations may make the difference between success and failure: 9.6.2.2 Before the pitch The purpose of a pitch is to tell your story in an organised way that is understandable to the audience and to meet their criteria for making a positive decision. Knowing your audience and what they will be looking for is good. Planning for pitching is case-specific because each case and audience differs. Do your homework and practise. It is natural for presenters to be nervous - channel this energy towards your audience and message. Know what you want and select a process and get you there in the time allowed, which i may be only a few minutes. Place yourself in the audience's position and list the questions they might have and have answers for these. Understand that presenting a pitch is like sell- ing a story with a strong vision of what the future would look like if the audience bought into the idea. The story covers "why this, why us and why now?" (Warner, 2016) as will be discussed next. 9.6.2.3 During your pitch Explain what the idea or business does at a simple level. Explain the problem or pain it deals with in the market. Convey the features and benefits of your offering and why it is new or different. Van Schaik 110 Pen Describe what makes you qualified s viate the pain, which may include exper skills and infrastructure or other assets Indicate that you know the market, its size and how it operates, and we c ble share you can attain of it in a tea time frame Indicate that competitors in the targa ma (direct and indirect) are well underwod Communicate the business model walder, 2010), for making money. In the intended price and margin if approp (sometimes requested separately). Demonstrate that your opportunity in investment that offers a good return of the risks being taken. Describe how the total investment is mad and will be used. Should you be interrupted, listen to the tion and make sure you address their ies Suggest to the audience what you want the do next, such as finding out more, going website, watching a video, contacting you The next section brings the previous sections together by emphasising leadership and manap ment issues in innovation. 9.7 LEADING AND MANAGING INNOVATION 9.7.1 People innovate- leadership matters Despite the technological advancements discussed before, innovation remains mostly a human a ity that relies on human awareness, sense ma ing and creative conduct in a given context. The effect of leadership practices on innovation pe formance has been studied and it is becoming increasingly clear from research findings th innovation requires leadership competencies th are not normally associated with operational management and hierarchical power structu (Hill, Brandeau, Truelove & Lineback, 2014). Innovators/entrepreneurs who wish to su lish firms that can sustain innovation over I have to understand their role as leaders. I vation leaders need to focus on the willingnes and the ability of the people to innovate, ingness relates to a sense of community that de leader needs to establish through clarity of par pose, shared values and the rules of engagem