fi event1 pitch bootcamp-werk1-23 may2013
TRANSCRIPT
welcome
JAN KENNEDY
• Co-Director of FI in Munich• Managing Director Meltwater Group
• 200 to 1,000 people• 0 to $140M• Zero Funding
• Silicon Valley, Austria, Hong Kong, Malaysia, Munich
STRUCTURE
• Intros – Sponsors• Intro to The Founder Institute• Steffen Matz CEO/Founder Social Media Interactive• Jan Küster – Pitching Bootcamp Intro• Open Floor• 1 on 1 speed pitching• Drinks / Networking
Largest Incubator in the world
800+Grads
1,400+Mentors
40+ Cities200+
Partners
The Goal
The Founder Institute has created a training and mentoring program, to help entrepreneurs
launching a new startup, create meaningful and enduring technology companies with shared equity
that encourages peer support.
The Process
4months
15Sessions
1 Evening
20 Hours
per week per week
The Results
90percent survival rate
75%+Strong
42%+Funded
The Fees
Fee Amount Description
Application EUR 50 For Admissions Test Processing
Course EUR 850 For Mentor Travel, Catering, Supplies, Etc.
Bonus Pool 3.5% Optional upon Graduation
Tuition $4,500 Conditional on External Financing
The Positioning
Idea-Stage IncubatorFounder Institute
Funding ProgramsTechStars
Angel InvestorsAngelList
Entrepreneurial EventsStartup Weekend
The Program
Idea Business Launch1. Startup Basics2. Vision & Values3. Startup Research4. Naming & Branding5. Mentor Idea Review
6. Startup Legal7. Cofounders & Hiring8. Revenues & Costs9. Product Development10. Mentor Progress Review
11. Outsourcing12. Marketing & Sales13. Publicity14. Fundraising15. Graduation
1 2 3
benefits
1. structured curriculum
Guidance
From IdeaTo Fundraising
apply now: http://FI.co/join/
1.5 Mn
• Idea Refinement
• Mentor Review
1.5 Mn
• Business Set-up
• Mentor Review
1.0 Mn
• Launch Planning
2. seasoned mentors
Experience
Top Founders2:1 Ratio
apply now: http://FI.co/join/b2
3. shared upside
Camaraderie
Shared UpsideAll Stakeholders
apply now: http://FI.co/join/b2
4. Investor preparation
Capital
Local InvestorsReal Feedback
apply now: http://FI.co/join/b2
5. partner discounts
Free Services
>75 Partners$20K to $2.5K
apply now: http://FI.co/join
Typical Founder
• 34 years old • 60% have had a technical focus and 40% have had a product
focus • Has had professional experience • Has high fluid intelligence • Has high openness • Has moderate agreeableness • Remains employed whilst visiting FI • Wants to develop an idea or their recently launched startup to
get more direction & support
Additional Benefits
• Keep your day job• Build your dream company• Get expert feedback from top CEOs• Join the largest global startup network
The Testimonials
questions?
Steffen Matz, CEO Social Media Interactive
GmbH
Jan C. KüsterSales-Driven Entrepreneurship Enthusiast
Pitch Bootcamp
The Founder Institutehttp://FI.co/join
Who Are You?
Hopefully, Neither
5 Rules
Display Confidence
Stand tall
Speak clearly
Don’t Make Excuses
“I’m tired”
“Let me apologize for…”“This is my first time…”
“I think that…”
Avoid Superlatives
“We’re the first…”
“fastest”
“best”
“only”
Use Data
“big” = bad
“large” = ignorant
End Strong
What is your ask?
Leave with a slogan.
Pitch Types
The Three Pitch Types
Elevator Pitch
•<1 Minute•Every Day•Clear
Competition
•3-5 Mins•Excite•Structure
Fundraise
•20-30 Mins•Inform•Data Heavy
Elevator Pitch
My company,
is developing
to help
(solve a problem)
(with secret sauce)
(company name)
(a defined offering)
(a target audience)
,
Easy?No.
My company,
is developing
to help
find deals online
faster.
Socialista
a social utility
female consumers
,
State a Simple Offering
Be Specific
a social utilityIn other words, a regional gas and electric company.
an ecommerce site
Avoid Buzzwords
mobile social CRMFor SMBs in EMEA over HTTP, of course.
a mobile application
Skip the Adjectives
a revolutionary serviceFight the power!
backend software
Specify a Precise Audience
Identify Demographics
female consumersConsumers, consumers everywhere!
mothers aged 24 to 36
Specify Your Market
artists and musicians Jugglers, piano players and trained monkeys unite!
unsigned electronic bands
Clarify the Buyer
large businessesThey are just so large, and they want what I have.
purchasing managers at Fortune 1,000 companies
My company,
is developing
to help
find deals online
faster.
Socialista
an ecommerce site
mothers aged 24 to 36
,
Identify a Problem Everyone Understands
My company,
is developing
to help
Socialista
an ecommerce site
young mothers
,
shop for hip baby productsat wholesale prices
Add Some Secret Sauce
My company,
is developing
to help
Socialista
an ecommerce site
young mothers
,
shop for hip baby productsat wholesale prices
with automated ordering for diapers, wipes and other staples.
Other Examples
My company,
has developed
to help
TheFundedan online community websiteentrepreneurs seeking venture investment
,
research, rate and review venture capital firms
with subpoena-proof anonymityto encourage accuracy.
My company,
has created
to help
the Founder Institutea training and mentoring programentrepreneurs launching a new startup
,
create meaningful and enduring technology companies with shared equity that
encourages peer support.
Open Floor
The Founder Institutehttp://FI.co/join
My company,
is developing
to help
(solve a problem)
(with secret sauce)
(company name)
(a defined offering)
(a target audience)
,
One Minute Pitch
1. OVERVIEW: What does your company do, and what need is your product or service serving?
2. MARKET: What market are you in and what are some facts about the size?
3. COMPETITION: What do you have that makes you unique as compared to your competition?
4. STATUS: Where are you in your growth plans and how do you make money?
5. THE ASK: What do you need, and, if you need money, what business milestones do you plan to achieve?
BREAK
Pitch Your Neighbor
1. Find a Partner
1. 60 Second Pitch• What does the business do?• What market is the business in?• What is the secret sauce?
2. 60 Second Feedback• Did you understand it?• Was it compelling?• How to improve it?
3. Switch Sides
2. Find a New Partner
My company,
is developing
to help
(solve a problem)
(with secret sauce)
(company name)
(a defined offering)
(a target audience)
,
Thank you!
The Founder Institutehttp://FI.co/join
Networking / Drinks
http://FI.co/join