Learn how to write the market opportunity section of an NSF project pitch in 250 words. Identify your target market, estimate TAM/SAM/SOM with dollar values, note supporting trends, name your end customer, list their specific pain points, and explain how your innovation solves them.
Describe the market opportunity. Here, this asks you to describe the customer profile and their pain points that will be the near-term commercial focus related to this technical project. This prompt can be a little bit confusing because the prompt itself and the instructions are asking you for a couple of different things. So what do you do? You gotta do it all and you need to respond within 250 words. The first thing you want to do is to describe the market opportunities. One, what is your target market? Two, describe the total available market, the served available market, or the serviceable obtainable market, or TAM-SAM-SOM, and estimate how big these markets are in US dollars. And finally, what are current market trends? You can then move on to the second part of your response, and this is all about describing your customer pain points. 1. Who is your end customer and why? 2. What are your customers' pain points? And 3. If your innovation was successful, how does that address your customers' pain points?
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