Every months a group of investors meets at SFU Time Center in downtown Vancouver, for a 2-3 hour meeting, where early stage startups give their pitch in hope that they will find some interested investors. Some startups just want the cash, most companies ask for cash, plus mentorship, others are just in the conception stage and all they want is mentorship.
Typically there are two segments to each meeting. There are 5-minute pitches, for those who do it for the first time. If the 5-minute pitch went well and people found the presenter prepared, then the next time they are given 15 minutes. They also get time to answer questions — typically 10 minutes presentation, followed by a 5-minute Q&A session, where startups get “grilled” a bit, or should we say get a “reality-check”.
Recently one of the meeting organizers, Thealzel Lee, started running prescreen sessions, which allows startups to run their presentation in front of a small expert panel, which give suggestions for improvements and the panel also decides whether the company is ready to do the long pitch, do the short one, or send them home to do their homework.
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Tags: angel investor, early stage, entrepreneur, entrepreneur pitch, startup, vantec