How to win a startup pitch competition
Here's the secret to winning a startup pitch competition.
Back of the envelope math, I’ve judged 70-80 startup pitch competitions over the past decade-plus, as recently as this week.
Afterward, someone asked me what set Janessa Ferrell (QuestRead) apart to win the Atlanta Tech Village Pitch Off.
Janessa nailed everything below, notably the depth of knowledge and understanding exhibited during the Q&A portion.
Template for a 5 Minute Pitch
Problem: [Company] solves [problem], which causes [negative impact] for [target audience].
Solution: [Company] offers [product/service] with [key features] to help [target audience] [achieve desired outcome].
Market: [Company] targets the [size] [target audience] market, differentiating itself from [competitors] by [key differentiator].
Business Model: [Company] generates revenue through [revenue model] and has achieved [key milestones].
Team: [Company] is led by [team] who have [relevant experience] and is supported by [advisors/investors], which gives us [an unfair advantage].
4 Key Factors Judges Consider
Clarity and Delivery: Is the pitch communicated clearly, confidently, and in an engaging manner?
Q&A Agility: How well does the team handle questions and respond to feedback?
Traction: Have they demonstrated clear progress and the speed of growth?
Novelty: Great startups have non-obvious solutions to obvious problems, or obvious solutions to non-obvious problems.