2018 MIST Startup Accelerator applications are now closed and will re-open in 2019.
So you’re applying for the MIST Startup Accelerator, but you need some extra help. Well, the good news is that you’re already on the right track! As MIST’s official media partner, Dulichable has the scoop and we’re here to help.
We watched MIST 2017 closely and we have direct communication with the MIST selection committee. This article is part of a series on how to write a successful MIST application, and this one focuses on how to demonstrate that your application is innovative.
1. Demonstrate that your idea solves an existing problem in travel
Before you can demonstrate that your idea is solving a problem, you need to be able to identify what that problem is. It doesn’t really matter how big the problem is, so don’t try and exaggerate the issue. The MIST selection committee will be more impressed with your application if you are realistic about what you are trying to do and how you plan to do it. Once you have your problem (or in some cases, problems), only then you can demonstrate your solution.
2. Demonstrate that your idea has never been done before in your market
Innovation happens when something is done in a way that has never been done before within a certain environment. You need to show that within your environment, whether that be a city or a country, your idea hasn’t been done before. The MIST selection committee doesn’t need you to demonstrate that your idea is completely new to the world. They only need you to show that it’s new to the city or country where you operate.
3. Demonstrate that your idea is markedly different to that of your competition
Finally, to show that your idea is innovative, you need to show that you’ve surveyed your competition. The MIST selection committee will want you to demonstrate that you’ve thought about your potential competitors and considered how you can beat them. Don’t be afraid to take on the big names. If you think that your booking platform is better than Booking.com, or your review platform is better than TripAdvisor, the MIST selection committee will want to know about it. They’ll also want to know why, so make sure you explain this clearly.
Bonus: Where to show this on the application form?
The application form isn’t extensive and the questions may not allow you to insert the information in the way that you want. That’s why your pitch deck is so important. Although MIST doesn’t require you to upload a pitch deck, this is your opportunity to walk the selection committee through all these points.
2018 MIST Startup Accelerator applications are now closed and will re-open in 2019. Would you like to get a head start for next year? Download our free guide below but please note that the criteria may change in 2019.