I'm part of a team working on a fairly trivial app with an idea/model that has been done before in other markets, where the idea/model has attained a good deal of funding and reached profitability in some cases.

We are thinking of pivoting to a different idea which would have much larger potential but would be substantially more challenging with a lower probability of success, and although we've made a good deal of progress towards the current model, we have not much more than an idea for the new one along with software we could realign to serve the new intended purpose.

Would it be best to apply twice, apply with the bigger idea in mind and try to explain the circumstances, or apply with the smaller current idea and list the larger one in the "other ideas" section below?

I understand it's a very subjective question but would appreciate any advice.

Thanks!