Smart Grants

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Question 4 - Market Awareness

What does the market you are targeting look like? ​

Only the detailed questions are required for this section. Utilise our examples and FAQs to fully address each sub question. 

Documents Required

Detailed Questions

(Use your working document)

Application Questions & Examples

FAQs
 

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Below we have provided some frequently asked questions, so please be sure to refer to these first.

Q: How many markets can I target?
A: We advise inserting TAM, SAM, and SOM


Q: What is TAM/SAM/SOM?

A:

  • TAM: Total Addressable Market (How big is the largest possible market?)

  • SAM: Serviceable Available Market (What proportion of the market fits you?)

  • SOM: Serviceable Obtainable Market (What proportion of that market can you reach?)

 

Q: Can SAM and SOM be the same?

A: It is very difficult to capture 100% of your serviceable addressable market. Even if you only have one competitor, it would still be extremely difficult to convince an entire market to only buy your product/service.