This week we had a blast at our first Open Pitch Day session, an event where startups have the chance to come and pitch their idea and get feedback from our mentors.
We selected 6 teams: Hermes CRM (B2B solution focused on delivering integrated CRM experience), Taxistartup (solution for taxi and limo companies), Ninjamock (sketch and prototype designer for easy design of web and mobile apps), Meets by Sweetbits (app that allows one to make plans with his friends), FasionFinder (app destined to help clothes retailers find where their customers are) and Splitter (solution for easy marketing campaign analytics). Here are some snapshots from the day!
Each team was given 5 minutes to present their idea and 25 minutes to receive feedback from our mentors: Peder Nedergaard, Christian Zigler, Michael Stadi and Richard Breiter. All teams selected to pitch at the event will be given a 250 dollars Amazon credit.
The feedback sessions were quite intense, so we decided to put together 10 take away points that as a startup you will find useful for the next pitch:
- A pitch is basically about 2 things: 1. Create curiosity and 2. Establish trust!
- Create a story around your product/solution and leave aside all the technical details. Your pitch has to make the solution “sell” -able!
- Focus your pitch on how your product/solution can solve the problem you identified and less on how your previous experience enables you to deliver this.
- Before you go to a pitch, identify your Key Selling Points and build your pitch around them.
- Is your product different? Then, say it out loud as many times as possible!
- Have you explained your idea to a 5 years old kid and he got it? Perfect, that is the way you should pitch your super tech and complex product/solution!
- Is your “crazy guy” selling/ marketing your idea? Not yet? Then, you should better start finding one!
- Before you go into the pitching room, be sure you have a very clear answer to the question: “Where are you going to be in 2 years from now on?”
- “When content is strong and valuable to your customers, they will be the ones coming to you!”(Christian Zigler). Do you have that?
- And again, be passionate about your product!
What do you think about these points? Is there something else you found important when pitching your startup?