Unfortunately this doesn’t mean that once you have one investor interested in your company that the rest will clamor to commit ever larger amounts of capital on increasingly more favorable terms. What is does mean is that an investor will gain confidence in your idea if you can identify specific competitors and then go on to demonstrate why your business has an advantage over them. Claiming that no-one else can do what you are doing shows lack of research. Further claiming that on-one else can do what you are doing shows lack of research and overconfidence. Homework and realism are much more likely to attract funding.