Will you survive the Collision?
Updated: Nov 2
7 Tips to get Collision/pitch ready, the MVIP way
With major events around the corner, like Collision, startups have to be ready to impress and quickly convey their message. Eminem's "Lose Yourself" should be your anthem, as "You only get one shot, do not miss your chance to blow; This opportunity comes once in a lifetime…"
Pitching the MVIP way involves presenting your intellectual property in a way that is clear, concise, and focused on the most essential elements. Here are some tips for pitching your IP to investors:
Start with the problem: Begin your pitch by describing the problem that your technology solves. Be specific and provide examples to illustrate the problem and its impact. The problem should involve a personal story or experience that frames your solution.
Highlight the uniqueness of your solution (and IP): Subject confidentiality agreements, explain why your technology is unique and how it is different from competing solutions on the market. Focus on the most essential elements of your solution that makes it stand out. Competition is everywhere, so investors want to know if you have the cure for cancer or just made a screwdriver in a different colour.
Describe your target market: Identify the specific target market for your solution and explain why it is a good fit. Be specific about the customer demographics, needs, and pain points that your solution addresses. Knowing how to find those customers, target them in a cost efficient and scalable manner will show you are ready for the next step.
Outline the benefits of your solution (and IP): Describe the key benefits that your solution provides to customers, such as increased efficiency, cost savings, or improved outcomes. Be specific and provide examples to illustrate how your solution delivers value. Products that don’t solve a real problem or pain point have difficulty launching. The more obvious the benefit you have over your competitors, the faster you will grow.
Provide evidence of traction: If you have already launched your solution or have a prototype, provide evidence of traction, such as agreements (i.e., licensing, sales, master services agreements, etc.), customer testimonials, usage data, or revenue numbers. This can help to build credibility and demonstrate that your solution has real-world potential. Ultimately sales and revenue are like truth serum. Customers vote with their dollars so if you can show real market traction, the value of your company has jumped to the next level, and risk for the investors is less.
Keep it simple: Focus on the most essential elements of your solution (and IP) and avoid getting bogged down in technical details or jargon. Keep your pitch simple and easy to understand and don’t be afraid to relate it to existing products or business models. (ex. Uber for dog walking, chatGPT for legal advice); and
Own your solution (and IP). Make sure that you own your solution, and not someone else. Be able to show a “chain of title”, and that you have a process in place to secure and maintain ownership to your solution (and IP).
Overall, the key to pitching your solution (and IP) is to focus on the most essential elements, highlight the uniqueness of your IP, and provide evidence of traction and get some experienced mentorship or advice. By doing so, you can increase your chances of attracting interest and investment in your IP.
Contact us at MVIP to help you get ready.