A Step-by-Step Guide to the Arizona Innovation Challenge Application

Paper applications are tricky business. As a founder, it always feels like it cuts your story short. But they don’t have to, if you do it right. Remember, your application isn’t about what you want to say, it’s about what the judges (e.g. the investors) need to understand.

I’ve been on both sides of the table, creating and vetting hundreds of applications for angel groups, VC funds, accelerators, and competitions. Relevant to this discussion, I’ve helped two companies navigate the Arizona Innovation Challenge application process and walk away with $250K each.

To help the #yesPHX community, I’ve developed an ebook that goes question-by-question through the actual Round 1 application. You’ll find solid advice and analysis that will guide you through the process and (hopefully) optimize your application. Download the ebook.

To give you a taste of whats in the ebook, here are ten guiding principles that I use when starting the application writing process for the AIC:

1. Tell a story, not a monologue

Like anything else in business, this is a sales process. You have to tie a common thread storyline through your entire application. If you don’t know anything about storytelling, you can go here and here to get inspired.

2. Always emphasize impact

How does the problem affect your buyers? What is the biggest single change that your clients will feel when they use your product? What tangible traction have you made to date? You can always point to impact, no matter the topic.

(NOTE: none of the questions above use the word *impact*)

3. Understand that judges are looking for reasons to “Not Invest”

This is the easiest way that investors, and judges, have to sort the wheat from the chaff. Investors read applications with a very critical eye, subconsciously asking, “What about this company would make me NOT want to put my money on the line.” Don’t take it personally.

4. Know that the Arizona Innovation Challenge has unique nuances

The AIC is different from just about any other source of funding because it’s tied directly to public funding. It is also money tied to a very specific mission of the Arizona Commerce Authority, which is largely centered around job creation. Preach Arizona. Preach jobs.

5. Pitch a company, not a product

This two page application is far too short for you to spout off too much about your feature sets. Learn to tell the story of your product. You shouldn’t even have to mention lists of features (painful, I know!). You’ll be glad you didn’t.

6. Drop the jargon

If you have to use industry specific jargon to explain what you’re up to, you run the risk of getting a judge who doesn’t understand any of it. Eyes will glaze over, and comprehension will be lost, alongside your chances of moving to the next round.

7. Answer the category, not each question

You’ve got a lot of topics to cover in two pages on the Round 1 application. You don’t have room to answer every question to its fullest. Save all those detailed questions for the second round application. Focus on what in each category tells your story best.

8. Follow the instructions to a ‘T’

There are SO many applications. SO many. The easiest filter is to see who can’t follow instructions. Read the instructions a dozen times. Complete the application. Audit the application yourself, then have 2–3 other people audit it again. Don’t mess this up.

9. Be Concise

Brevity is a talent. Your ability to produce brevity in your application will help you to stand out. If you don’t know how to write concisely and clearly, find someone who can help you.

10. Betting on the jockey

Your ability to do all of the above is a direct reflection on your competence as a founder, e.g. the jockey of your startup. From an anonymous member of the ACA/AIC team, “They are listening for and evaluating competence, confidence, ambition, and sanity.”

All in all, completing the AIC application will be a great experience for you. Its worth your time and effort. Don’t forget to download the ebook for detailed question-by-question tips and guidance!