I attended the monthly #Sthlmtech session last night and watched three startups (Glance, Lunar Way, Happy Tails) pitch live to EQT Ventures. The meetup connects startups to investors.
My notes below:
Introductions
Sam Cole, KnC Miner:
- You have to listen to VC’s
- Good regular communication with VC’s
- Raise more cash
- Have a strong team
EQT Ventures team are looking for digitally disruptive products from software companies.
Startups will benefit from strong tech team and postfunding support.
- Team is more important than product in early stages of startup.
Together is EQT’s match-making service for startups and investors.
The team’s favorite words during pitches:
AI, machine learning, traction, product, market, metric positive unit metrics, demo, customers, I’m too busy to meet you guys
… Least favorite words:
Exit strategy, we’ve outsourced dev, strategy, constant use of I, overusing words that you dont understand
The pitches
Glance – simplify your data the autopilot for your business
- Thoughts from investors, mid-pitch: “put yourself in customers shoes, good outline of problem, there are a hundred of these solutions out there,put data in context”
- Good solid pitch, good touches, USP is slack bot and alexa skill, confident speaker
Happy Tails – connecting dog lovers
- 520 million dogs registered worldwide
- 2.2million active users for 2020
- Fullstack team, two apps released, looking for developers
- investor brain: “what is the size of the market? are those actual dog names? what part of the market do you want to start?”
- Tyler: “you never know what the investor is looking at in your presentation“
- energy and passion is needed in the product
Lunar Way – banking without the license
- Danish company, 9 months old
- Banking as a commodity
- Fb bot inside Messenger, nifty
- Investor brain thoughts: “primary or secondary bank for your customers?”
- Goal is to become a bank
- Established marketing and products
- Don’t have a oneliner… “Tinder for Banking”
Outros
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