How we won 9th SME Instrument proposal?
Let us share 3 powerful strategies with you that transform a good proposal into financed one. You will learn how we won 9th SME Instrument proposal. Watch the video to achieve similar results.
This time we were working with innovative company from power trading industry. Senior team was seeking for funding of innovative product development. Mentioned company is already well established on the market, with strong traction, decent revenues reaching 7 figures. Their technology, a proprietary trading algorithm, which enables automation of business activities in intra-day market segment passed prototype level. Innovation was developed and to some extend commercialized by prominent and multidisciplinary team.
Innovation team worked hard and already put together a proposal prior they reached to us. Main challenge we were facing was, how to transform it from good to “I-can’t-stop-reading-this-project”. Our clients enrolled into our Deep Dive program and the rest is history.
How did we improve the narrative?
Narrative is everything. We invested significant effort in making overall story more simple. There were two main issues. They described product described at high level and it was thus hard to understand. Also, market segmentation was complex and not fully related with go to market strategy. We conducted two iterations and asked series of strategic questions. Then we introduced our unique methodology SME INSTRUMENT BLACK BOOK to their team. Based on reached clarity and step-by-step instructions, they were able to decrease level of narrative complexity. (Latter was a result of wish to tell EVERYTHING.).
In addition, we suggested on how to improve proposal with intense societal component. We were specific on where and how they could add extensive descriptions of consequences through whole value chain. Why? We wanted evaluator to feel sense of urgency and real need to solve exposed problem. If we would achieve that, then proposed project would make a huge step towards getting the grant.
How detailed were we?
Details are important. Our client was very successful in re-creating their story. They made it simple to understand and easy to follow. This was a good foundation for next important step – strategic introduction of details. These could take many forms like facts, metrics, names, time, locations, images and credible sources. For example: in section where we were describing technology transfer, we also elaborated how they did it. We also explained, rather then just mention, the results. That means that our client provided information on cooperation, when it happened, how, at what costs and so on.
How we convinced on realistic high demand to buy?
Product market fit is crucial. Finally, we focused our attention to explanation of customer needs and pains. These were elaborated in-depth. We tried to vividly present direct correlation between customer and product : how product solves problem at micro (individual), company and industry level and impacts on all mentioned levels. Text was supported with various tables: comparison with competition, market descriptions (TAM, SAM, SOM). These are important elements that make proposal easy to read and add to overall text coherence.
How did we cooperate?
Described steps were performed through series of iterations which consisted of asking the right questions, providing good practice examples, 1-on-1 executive coaching and strategising. Intense cooperation is key to success and important cornerstone of our Deep Dive program.
Did you enrol into our free growth platform?
If you are tech company and want to pass seed level and move towards fast growth stage, then contact us, because we can help! Sign up into our free platform to learn about SME Instrument and secure up to 2.5 million EUR equity free grant. Within our platform we share battle tested strategies at no cost (whereas you would pay big bucks to other consultancies) so grab the opportunity and sign up now.