In the first time, don't explain deep technical about your project, just the outline.
If it's already do, are you sure just sit the closet meanwhile you can do a better project, you have first idea so you should know how to make that better.
Your own idea will surely be unique unless an insider gave out your full features to the competitor. However since it's just an idea in development, you can juice it up with more robust features.
Execution is what really matters, if you execute rightly even competitors ahead of you can be overtaken in very short time.