March 2, 2023
SpartUp - Pitch Jam 23 - April(SJSU) How to pitch in 90 sec
Intro
Paula, Engineer, VC backed companies, Angel investor
Loves research and loves companies that have complex technologies.
Biotech companies
Skyler, Shark Tank, GainClass(Game class)
Asking
Reed, CS, Banking Industry, Global Sales, IPO Experience, 1994 - Callidus
Rushil - Simplify
Angel Investor
ML, Augmentation company (Pitching) - Simplify
4M in funding so far
YC Experience
Applied 3 times, since High School
Second time, Late application (Changed the entire company, hospital drag and drop)
Third Time, Simplify
Who you are talking to? Who you are selling to?
Investor - Purpose of product, why people going to buy and how are you getting into market. Bottom of the deck, benefit of the each slide.
Note: Do not show the technology, show the product.
Achievable Ideas, Execution is important(Supporting Plan)
Know your audience
Initial Pitch Flow
Solution should be 10 times better, story and then why are you so smart/better.
Story in the presentation, but when talking to person in -person no slides but better story telling without slides.
Im-prompt classes to learn your pitch
Take a pause when talking and say “ I’m going to pause here, do you have any questions so far?
One of them should be a good decision maker, could be senior or confident
In our case, Chinmay’s spontaneity is a good sign for investors
Angel Vs VC
Pre-seed
Just Idea with no traction/ less traction, different pitch
Traction - numbers
Getting User-Base, % paying for it, Money to hire, marketing scale this up.
Spreadsheet to investors
Flexible thinking based on investors feedback shows that founders are narrow-minded
Each Founder has their own investor founding thesis.
If investors ask - 5 years 200X possibilities
Try avoiding them
If numbers are up - they will identify the exit strategy
How big is the problem, how many people are facing this? cost of making this?
investor returns can be figured out from this info.
Investors are looking for roads or multiple.
18|30 runway
Inflection point
I’m raising this much($2M or more) to cover these objectives
If I cover these objectives, I can bring up 2x or 3x growth in the company financials.
Seed
Have you got product market fit.
Have you got customers
Can the team pull this up(Super Important)?
Presentations are important to validate your qualification
Traction - Spreadsheet is important to investors for traction
For Social Media - How active users are , Engagement, Are you resonating users.
If we represent the customers when starting the company.
Early stage company, hiring people (gonna use investor pitch), talk about the culture, shared values that we bring together, goals, aspirations.
Investors looks for passion instead of talent. Cuz passion keeps you longer.
Need to consider that in our hiring instead of just talent.
Sooner you get what your users want, the better you get.
If other person(User) agrees with your problem, soft spot for investors to accept you when validating problems.
Etienne - NuMind in our case. TechStack + Problem.
Pitch - on board customer or employees
watertight
more practice
YC interview - 10mins
Game changing - Levels you up as a proper entrepreneur.
One-Click book publishing system - A guy made this for his mom was the story that got barnes and nobles acquire this company - (Mash)