The First Angel Pitch

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2012/07/01 by lingdecklee

Last Thursday (2012/6/28), me and my music software startup project partner, Greg, did our first entrepreneurial act – pitching before a group of angel investors comprising mostly National Chengchi University’s EMBA students. Me and Greg need some seed funds for the development of a decent prototype for demo purpose.

A few teams went up before us and presented their thing. One team went through more than 60 slides of content; one forgot about time and went through the problems statement in slow motion. When it was our turn, we did ours in 16 minutes – a total of 9 slides. I think it was not bad presentation-wise (okay, the presentation can use some work on the revenue model). Two more teams went up after us. The last team did it the best, I must say – more than a dozen slides, but done in 10 minutes. There was product range, there were sales figures. They did not tell the audience what they want from the latter, but they got a lot of genuine questions from the floor. I think this is what the angel investors are hoping to see – a true startup with proven track records.

Can’t say we learned nothing. But I am not disappointed if we got no funding out of this first attempt. The most important thing is we get to test our product concept in front of seasoned businessmen (and businesswomen too). Our first priority now is to get at least a prototype ready as soon as possible.


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