Dr. Linda Plano from MTTC (Massachusetts Technology Transfer Center) gave us a brief presentation on how to pitch your business plan to VCs. A few useful points I wrote down:
- Should always prepare a 30 second elevator pitch, 10/20/30 minutes investor pitch (10 min being the most important), and a one hour post-NDA Investor presentation. Also have a 1 page written extract, 3 - 5 page exec summary, and 25 page biz plan in your folder.
- Don’t tell them exactly how it works, tell them how it benefits people
- It’s easier to improve something than to bring something in completely new
- If I have more time, I will write less (short, concise and easy to remember)
- Always understand your audience, their interests (10 to 15 x return in 3 to 5 yrs) and their technical level
What to include in your pitch
- why should investor care? - what do you do? - why are you better? - why you and your team? - is it real? - what does it take to get to my ROI?