🤓 If I could re-design the early-stage founder pitch, it’d look like this (*open to feedback from founders who successfully raised):
1. Concise introduction that hits upon (1) your experiences, with highlights to historic abilities to make the highly improbable a reality – prior to newco and/or in newco (2) entrepreneurial abilities, even if your last role was 9-5 (3) bridging experience clearly to problem you’re solving (why you’re the ideal founder for this) (4) other exec team members and why they’re relevant.
Time block: 3 min. Pause for Q’s.
Get investor intro that gives understanding of (1) check size (2) thesis (3) process to ensure fit before going deeper. Ask Qs.
2. Directly and simply: state the problem, commercial value if a solution is found (expanding on the value proposition, what the status quo is, and why that sucks), and the “spark of genius” in your solution (be direct in differentiation and defensibility).
Show a deep understanding of the problem – know the right level of detail to meet your investor on by doing your homework before the call / listening closely when they introduce themselves.
Allude to strategies you have considered but are not pursuing in solving this problem (showing a deep understanding of the market / competitors / potential scope of solutions, and why your solution is the best possible for this problem).
You can always mention “in our data room we have data that demonstrates X”, to be efficient on the call.
Time block: 3-5 min. Pause for Q’s.
Note: When fielding questions / pitching, keep it conversational – use slides strategically as you’re telling your story / answering questions.
3. Progress so far in the company. Sprinkle in any validation of the points made from 2, and highlight stand-out early successes.
Include mention of customer discovery, potential / current partnerships underway, product progress, team members on board, scientific advisory board members who joined and why, in vitro / vivo data that is leapfrog and not incremental, upcoming progress over the next x months, etc.
Time block: 3-5 min. Pause for Q’s.
4. The $ raise amount, traction in the round so far, terms if available, prior fundraising history, and the use of funds (mapped to key milestones).
Time block: 1-2 min. Pause for Q’s.
5. Now we are 15-20 minutes into what is likely a 30-minute call.
Use the remaining time to have a discussion with the investor (each is a unique snowflake with its own process, so expect some variance in the types of questions you’ll be answering here).
If there are “warts” in the business, be direct. It’s a turn-off for investors to get into “PI mode” to get to what isn’t working / risks in the business.
If what you’re building is not a fit for the investor, no big deal, gracefully give back the time and get back to building — wasting time on investors on the fence / a no is a low yield for your efforts.
If a fit, be clear on the next steps / offer suggestions.
