Article posted on Aug 30
Yesterday I had the pleasure of attending a Funding Universe Speed Pitching event. This was my first such event, and I have to say that I had a lot of fun. The interesting thing about this event, is that I almost need to review it from both sides individually: Investor and Entrepreneur.
Investor: I really thought this was great from the perspective of an investor. It gave the opportunity to really see perspectives and people from a lot of different industries. It gives an investor a chance to meet local folks, and hear what they have to say in a far less formal, less time consuming environment. Looking at this as an investor: do I think it likely that I will walk away from the event having found that “diamond in the rough”? Hmm… Maybe, but probably not. More likely however, I walk away having learned a lot of things about other people’s business ideas that get me thinking about my other investments, or directions I have considered going as far as other investments.
I guess what I’m saying is that while it is possible that you might find something to invest in at any given event, don’t necessarily going into it expecting that… but there is some real value anyway. You get to hear ideas without being hounded.
Entrepreneur: There are so many different investors, from so many different backgrounds, that it is almost impossible to walk away form the event without some really valuable advice, or a “You know, I know someone you should call to help you with your [such-and-such] issues.” This is a great event to pick people’s brain, hone your message, and by all means, capitalize on an opportunity to read the body language of a lot of very bright people. If you go to an event like this, and don’t come away with funding, don’t count yourself as having missed out. The value you should still be able to come away with is immense.
I really want to thank the Funding Universe folks for letting me be involved… let me know if you have an open seat int he future… I really got a lot out of it.
Hi Steve..Dave here. You forgot to mention that the Entrepreneurs have to PAY for this. I think asking entrepreneurs to pay to pitch should be illegal. The investors have enough money..right? for goodness sakes, the entreprenuers are sleep deprived (or should be), poor and trying to run a business. Quick making them PAY and get their hopes up. Someone needs to call BS to this practice.
David,
Unfortunately I am new to the Speed Pitching event, and as such was not even aware of this. How much is the entry fee?
I think there has to be some sort of barrier to entry to keep the event from being overwhelmed with have-baked ideas. If that is not in the form of a fee, I’m not sure how it would be handled… you would have to hae a forum pre-qualify presentations to see if they are really up to snuff? But then that kills the openness of the event… the biases of the forum would ocme into play.
I am not disagreeing with you, but I do want to point out that there might be some problems with simply doing a away with the fee, that might need to be dealt with some other way.