One of the things we learned a lot about at TSF was a beach-head market. It's the first market you take on to get traction (however you're measuring traction). So, I'd suggest talking about "knowledge management and collaboration" as your beach-head and WHY you've selected that as your beach-head...and, possibly most importantly, why traction within this beach-head will allow you to tackle some of the other markets you have on your radar more easily.

Also talk briefly about the potential market size of your other target markets. You don't have to have all the answers for your other markets -- after all, they are not your target market, yet -- but you should show some knowledge about those markets and be able to talk convincingly about how your product solves a real problem in those markets.

As for market expertise: I think it comes down to two things. How long have you been working in that industry and how many contacts do you have so that you're not jumping in cold. If you don't have either of these, it's going to be a big red flag. I'm guessing you have had some way of validating the problem, so I am going to focus on the network problem. Find an adviser that works in the industry that is well-connected and can tell others that your solution is heads-and-shoulders above what's out there now and is solving problems in new ways that add 10x more value than current solutions. I use 10x as you're going to have problems convincing people to switch unless you are able to provide a ton of value.

Anyway, just my $.02. The other thing you'll learn about, if you get into TSF or any accelerator: mentor whiplash. You're gonna get a ton of advice and most of it conflicting. So take these suggestions for what they're worth: one person's feedback based on your 5 paragraph post. ;)