Criteria

The criteria weight given to each section of your executive summary was developed by venture capitalists from around the country, and indicates what emphasis professional investors place on the various parts of your summary. For example, on a 100-point scale, financial information is worth only 10 points, while marketing is worth 35. The marketing strategy and management discussions are considered the most important elements of your venture. The following lists the required sections of the executive summary and their venture capital weightings (located in the parentheses):

THE COMPANY (15% WEIGHT)

• Business purpose. Explain what business you are in and why (i.e., what market opportunity you are intending to exploit).
• Give a brief summary of your company's history and current status, including whether the company is a start-up, development stage, pre-IPO, etc.. 
• State your company's overall strategy and objectives, i.e., to go public in X years, to command X % market share after X years, to reach $XX million in sales after X years, etc.
•  If you are currently in business, describe your revenue growth and timeline to profitability or positive cash flow.

THE PRODUCTS AND/OR SERVICES (15% WEIGHT)

• Describe important features and user benefits - relate features of the products and services to market needs and to the competition. 
• Discuss pricing and margins for both your products and your competitors' products. 
• Explain proprietary position - trademarks, patents, trade secrets, special production skills, proprietary processes, etc. 
• Describe specific products and projects planned, their status, when due for alpha, beta or full-market release, expected product life, and potential product and/or service revenue streams. 
• Articulate any regulatory, environmental or social issues, if any.

THE MARKET AND MARKETING STRATEGY (35% WEIGHT)

• Describe in detail what demand or needs in the market you intend to satisfy (i.e., what situations in the market you intend to exploit). Tell us who buys (or will buy) your products and why. 
• Descriptions of the market or markets, including size, organic growth rates, key changes or anticipated shifts in buyer preferences. What issues, underway or expected, are driving or forcing the market to need your product/service. 
• Competition - who they are, how much of the market they have, and their strategic position. 
• Unique capabilities - what makes you different; what gives you a special advantage (qualify and justify them). 
• Market penetration - how are you going to reach the market, (i.e., your market strategy - channels of distribution, promotion, pricing, etc. and the cost of the marketing program). 
• Discuss the issues or circumstances that "drive" or create the market, (i.e., what compels customers to buy? What УpainФ are you solving, what is the opportunity you deliver to the customers/end users?).
• Identify your sustainable barrier(s) to entry and your competitive advantages. Show us your sustainable competitive advantage(s).

MANAGEMENT (25% WEIGHT)

• Provide succinct background info on key individuals - why they can do this job, specific value they add to the company, their past accomplishments and employers. 
• Describe your history of working together as a team. 
• Identification of immediate personnel needs and anticipated initial organizational structure.
• Describe any Boards of Directors or Advisory Boards.

FINANCIAL SUMMARY (10% WEIGHT)

• Funds required - how much you want to raise, both initially and in subsequent rounds. 
• Provide a brief history of prior capital investments, terms, valuation impact and by whom or what type of financing entity. 
• Your summary should lead a prospective investor to how he/she may be able to re-liquefy an investment in your venture: Your exit strategies should be self-evident in your summary (i.e., mergers, acquisitions, or initial public offerings).
• Describe, if available, comparable businesses and their relative return on investment. 
• Describe funding needs at each stage of development with focus on realistic benchmarks or milestones. 
• Provide a simple projection of sales, revenues, income and expenses over a 3-5 year period. State and briefly justify your financial assumptions. Simple projections are required. 
• If you are an existing business, include a consolidated financial history.