Founders of high tech companies go to host Alan Brody’s iEvening Power Pitch Workshop to get solid advice to taking their startups to the next level – in other words, to get millions in VC funding. Last week’s event at Herrick Feinstein on Park Ave. was a bit different, in that Brody focused on the pitch of Telesofia Medical, one of the more complicated tech companies presenting that night. He poked and prodded it to perfection.
“This is the challenge: You think you’ve got the attention of VC’s, but if they can’t repeat it — you’ve done nothing. Except for the one guy who writes his own check – but I promise you there are not many like him. If you don’t have really compelling words – pure simple Anglo Saxon verbs, strong adjectives, not baloney, real dense concrete ideas with a benefit — it won’t work. Not every product has the potential to have someone say ‘you’ve got to see this guy he is great,’ but to an investor if he can make lots of money out of it, then that’s his motivation to follow the drama of the story.”
The health tech company uses a proprietary platform containing concise and clear medical information in a personalized video format. It can be accessible on any device including Smartphones, computer screens and voice phones. Dr. Rami Cohen, the founder and CEO said that he was looking for private capital or VC funding. “Tonight I’m presenting our system capabilities where we’ve built tens of thousands of personalized movies in very short effort in a very short time.”
He said that he felt that while it is important to have a short pitch, “Four minutes is never enough, especially when we have so many features. I usually start by talking about the team and about myself, because our team is extraordinary and we have a lot of good people. Then I talk about the problem and move on to our solution, demonstrate the solution, then end with all the numbers for the investors.” His number one tip for other entrepreneurs: “Be excited about what you do, excitement is catching –you will get other people to be excited as well, and this is very important.”
Andrew Cohen founder and CEO of Brainscape, a mobile education platform that allows people to learn more efficiently, was at the workshop to get feedback on his pitch. Earlier in the year he had won the elevator pitch contest at an Ultra Light Startups event. His tip for other entrepreneurs also involved emotion: “Have a product that you wanted for yourself. If you desperately want to have your own product, than you are able to pitch it with conviction.”