how to pitch r&d results · what to know to “pitch” your result - peculiarities it is...
TRANSCRIPT
HOW TO PITCH R&D RESULTS
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AAL2Business
INTRODUCTION
• WHA IT IS
• ITS OBJECTIVE
• FEATURES
• WHY IT IS DIFFICULT
• HINTS TO PREPARE IT
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THIS SEMINAR WILL BE DIVIDED INTO TWO PARTS:
▪ PART 1: Always need some theory first
▪ PART 2: Be practical: techniques and tactics to help you out
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What it is&Objective
PITCHING:
clearly and convincinglypresent your solution in a few minutes
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OBJECTIVE:
ATTRACT INTEREST NOT “CLOSING”
What to know to “pitch” your result - OBJECTIVE
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Executive Summary
› 1-3 pages written summary
› Balanced presentation
› Attract interest not “explaining”
Elevator Pitch
› Very short verbal summary (1-3 minutes)
› Product, differentiation, opportunity
› Attract interest not “closing”
Business Plan
› 20-50 pages plus appendices
› Validation scorecard (due diligence)
› Convincing investors/ partners
PowerPoint
› 20? verbal presentation
› Cover whole business plan
› Convincing investors/ partners
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Features
What to know to “pitch” your result - PECULIARITIES
It is about:
▪ The problem we address and the changes we will mobilise
▪ Why we are «innovative» (different for competition)
▪ How we generate value and how much
▪ How many “customers” we expect to convince
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A pitch for a R&D result is different from the one for a “start-up”
ATTRACT INTEREST – (what the listener looks at)
✓ To have a sound solution not an invention
✓ To be entrepreneurial (proactive)
✓ To have a core team
✓ To have a clear view of resources needed to
do what is presented
Key elements for
engagement
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ATTRACT INTEREST - what to avoid
Reasons for turn off (not the only ones)
▪ Research project mindset, a usable result is not an R&D project
▪ Too little ambition(no willingness to “scale up” from day 1)
▪ Not clear vision of what will be next(clear picture of what is needed, to do what and what it is offered)
▪ Not showing confidence – knowledge of external conditions(competition)
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Why is it so difficult?
A good pitch is
as important as
the technology
(the solution) proposed
……two different points of view and interests
Presenter:
▪ Loves the idea, “The best idea inthe world”
▪ Knows very well the technology butnot so much listeners expectations
▪ Aims at developing a successfultechnology
▪ «There are not enoughpartners/investors willing to financesolutions»
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Listener:
▪ Looks at the proposition as “one ofthe many projects to work with”
▪ Does not care about theproduct/technology but aboutmaking a return/impact!
▪ Wants to get a “return” - 10x
▪ There are not enough“business/investment readyprojects”
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Hints for successfully
pitchingyour solution
and proposition
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Message
a)Structure
b) Visual story & delivery
c)
A good pitch is made of…
A) Message
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What did we learn at the elementary school?
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Introduction
Key content
Conclusions
A good “composition”(presentation) contains:
And requires “preparation”
GET PREPARED - 1
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Why are you pitching
What is your objective?
GET PREPARED - 2
What are you looking for?
▪ Type of relationship▪ to do what?
▪ Resources: how much▪ to do what?
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GET PREPARED - 3
Who is the audience?
▪ Who are they ?
▪ Why are they here?
▪ What do they look for (screening criteria)?
▪ How can you best “reach” them?
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Each stakeholder has its own expectations, its own requirementsand evaluation criteria
▪ H2020 calls for “impact”
▪ ERDF calls for “jobs”
▪ Investors call for “profits”
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“All money isnot the same”(Christian Saublen, Eurada)
B) Structure
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How to organise your pitch and make it clear
PITCH Structure
Max 10 slides (3 minutes pitch) to:
▪ Let a third person understand the solution:
▪ no science: what, not why
▪ no European project jargon(Note: the team is not the list of project partners)
▪ Explain the “exploitation/business” model
▪ Convince the audience that what is offered is what is asked for
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Introduction to the proposed
opportunity
UVP / Target Market
Solution / Service -unfair advantage
Achievement to date – State of the
art
Team
Business ModelEconomic and
Financial objectives
Call to action: Engagement/Invest
ment plan
Closure: Why partnering/
investing in us?
STRUCTURE
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C) Visual storyand
delivery
Suggestions for a great delivery
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Passion
Perseverance
Benefits (profit)
Ability to deliver
Ambitions
Listeners want to SEE
The first seconds are crucial to “impact” by presenting
▪What problem you are going to solve
▪UVP - How you solve the problembetter than others, solution linked to your value proposition
▪Why you are the right team/company to achieve the result, solve the problem
▪What you look for
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Need to know, not nice to know
Need to know7%
What you say
(Content)
38% How do you say it (Attitude)
55% Body
Language27
Voice
Body language
Eye touch
Attitude
Presence
Use of the
space
An effective communicationis based on:
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You are NOT presenting a EU project but the results to be used in a sustainable way
✓ Avoid slow start(first 30 seconds are crucial)
✓ Say only key things
✓ Do not speak too fast
✓ Use short clear sentences
✓ Use pauses
✓ Talk to the audience
✓ Respect time
Don’t miss!!
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Tools and examples
Cost Structure
Customer Acquisition costs
Distribution costs
Hosting
People, etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Problem
Top 3 problems
Alternative
Solutions
Solution
Top 3 features
Key MetricsKey activities you
measure
Unique Value
PropositionSingle, clear,
compelling message
that states why you
are different and
worth paying attention
Unfair
AdvantageCan’t be easily copied
or bought
ChannelsPath to customers
Customer
SegmentsTarget customers
Early adopters
Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
PRODUCT MARKET
The CANVAS is the base for the pitch
Then you say
how it is done
today
Then you go to early adopters
and what you found out with
them (state of the art you investigated).
How you “make” money
Why you need investor money
Customer ProfileValue Map
jobs
pains
gainsgain creators
pain relievers
products & services
Value Proposition Canvas (VPC)
Special thanks to strategyzer.com for their inspiring work!
Strategyzer.com/vpd
ad-libVALUE
PROPOSITION TEMPLATE
An example of how to pitch
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Apply the 10/20/30 rule to your presentation
