The Perfect Pitch
The pitch of the startup scene is like the casting of the fashion industry. Only a few seconds to minutes decide about success or failure for lucrative jobs or lucrative capital. During the seed phase, startups advertise for their own (realistic) vision, whether alone or in direct competition on startup weekends or pitch events (live pitch) or crowdfunding platforms, such as seedmatch (digital pitch), in order to attract investors. Without external support, this vision usually does not last long. In the LifeScience sector, in addition to the DxPx conference, the T4M Start-up World trade fair, the MedTech Summit congress or the bionection Partnering Conference are also possible options. While DxPx puts the field of diagnostics in the foreground and focuses on targeted international partnering, in the other formats this forms only a small part of the big picture in the fields of biotechnology and medical technology. The pitching stage can be found in all of them.
The term 'pitch', originally from the advertising industry and not to be confused with that of the Business Model Canvas (BMC), can take different forms. There are three types of live presentation:
The 'Elevator Pitch'
This form of pitch grants the new generation a maximum of 30 seconds of oral presentation time – three times as long as is needed for the first personal impression, which is an essential part of it.
The 'Startup Pitch'
This one allows newcomers several minutes of speaking time including pitch deck (presentation slides; maximum approx. 10-13 slides), which should primarily be geared to visual rather than textual presentation and a less is more principle. Also it should take current design trends into account. Grammatical correctness goes without saying.
These are similar to speed dating – The 'Startup Pitch' runs here with a return key according to the number of participating capital owners.
In all of these different forms the latter must be informed within the shortest time about the basic problem, i.e. an unmet need, as well as its product solution, fixed company key figures (What happened so far?), market location, competitor and competitive advantage, market analysis, the targeted business model, the financing needs of Venture Capital (VC), as well as their own contact data. The personality of the startup and its members must also be communicated clearly and sustainably as well as be conveyed in an open manner. The storyline that you as a startup take into the arena should therefore not be underestimated: In times of user experience (UX), products need an emotional framework, even those that are still fictitious. The pitchers, on the other hand, should be very real and authentic, because they are also part of the framework and only congruent stories are of value. If you stumble verbally, however, you will be suspicious of not having thought the matter through properly, and this will be put to the acid test after the pitch. To prepare for this question-answer-battle, everything that is used must be sufficiently explained. The view behind the facts is therefore existential, as is the view to the future, because if you don't know your audience, you may quickly reach into the void even with an excellent pitch. It is important to know one's own goal and to be able to justify it holistically.
Picking up the target group and taking them on a journey is the cornerstone of every pitch.
As we all know, travelling is always an adventure. Therefore the story can begin with a question of its own that relates the problem aspect to the investor, or with a short but concise slogan that captures the attention. In addition, it should always have a suspense arc, which fuels interest and promotes the aha effect. In addition to the narrative, the narrator's way of telling the story is also essential: Those who enter the race for high capital should radiate motivation and a thirst for action, not only through words, but above all nonverbal (facial expressions, gestures, posture) and paraverbal (vocal pitch, pauses in speech), since these are the communication aspects that determine the unconscious first impression.
The aim is to fill the room with a self-confident but down-to-earth presence.
This is not possible digitally via crowdfunding platform. The pitch here is exclusively the presentation via keynote, powerpoint or prezi pdf, which, however, should be richer in slides and content in order to have created the same feeling in the reader at the end of the data set as the live pitch is able to do, because emotion still weighs more heavily than any logic. Even better, both coincide so that one's own vision can move a little further out into the world.
Do you have a game-changing technology and the perfect pitch? Come pitch at DxPx and win your roadshow trip to China or San Francisco!