Can referencing our competition help us receive funding?

Your existing traction should be the best part of your story -- every month more customers, more revenue, more learning about what the product should be.

You have to talk about competitors, just because it's a fundamental part of your business. Agreed that "news" is irrelevant -- I want to know how you differ from them and why you can continue to carve out a nice chunk of the market that they're not in.

A typical part of the standard business plan or evaluation contains section(s) for market and competition. I see no reason not to provide that information to your potential investors.

I am not sure I would send them "news" - it is probably enough to list the competition and perhaps strengths and weaknesses for each and you might even add something about how you differentiate from them.

By sending links about your competitors you will convince investors that your idea is not that unique. However, if you can show that in just two years you were able to carve a pig piece of a market from your well entrenched competitors, that may put you ina positive light. Try to put yourself in the shoes of the investors and think like them.

Showing that there are competitors for your business is a good thing. It is more of a worry if there is no competition. That shows there is probably no demand for your product or no money to be made in your market. So give your investors information about your competitors but (as with any part of the business plan) only highlights and the most relevant information that impacts on your business.

Don't worry about trying to be unique. If investors are doing their due diligence they will find your competitors - far better for them to hear about competitors from you. And anyway, success in entrepreneurship isn't about having a unique idea - it's about the best execution.

• When you have already customers. Include customer references and contacts
• Include in the pitchdeck (business plan) very brief your pivots, and what you have learned
• Show the investors your competitive advantage, make it compelling. Are you 3-6 months ahead of the curve because you pivoted and learned fast? Which highlights the team too! Is is it that you have already paying customers/cash-flow and growing steadily?

Pointing at competitors, I think, will not help you. Investors research your competition and market during the whole process. Yes you have to include them in your business plan (commit a brief review of competitor product) and pitchdeck (name them, don't explain what they don't have). Show investors you did your homework and are in the trenches.