Tuesday, May 15, 2018

Startup Tour tells entrepreneurs to keep pitches simple

A speaker from the 2015 Startup Tour advised entrepreneurs to dumb down their pitches to investors and potential clients, during its ninth stop Tuesday in Krasnoyarsk, Siberia.

The tour aims to educate innovators on how to find investors and clients to feed their fledgling businesses. As usual during each stop, judges from the tour chose the best local innovators from four categories: IT, energy efficiency, biomedicine and industrial technology. The tour stop ended with two local companies being invited to pitch sessions at the Startup Village, hosted by the Skolkovo Foundation in Moscow June 2-3 at the Skolkovo Innovation Center.

The judges ended the stop in Krasnoyarsk by telling participating innovators to dumb down their pitches.

The judges said the entrepreneurs should make their pitches less heavy on science and technology, and more accessible to potential investors.

“If you need to remember just one idea from my presentation, then this is what it would be: You need to talk about your project as if you are explaining it to a 5-year-old child,” startup guru Pekka Viljakainen said. “Your potential investors will not understand what you are talking about.

“Explain the problem and prove you are capable of solving it,” Viljakainen said. “The point, of course, is the technology, but from a business point of view, it is the solution that you offer which is important.”

Next week, the tour will stop in Minsk.

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Skolkovo Foundation

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