By: Mordechai Applebaum
JLM-BioCity’s event – “How to Perfect your Investment Pitch – from Seed to Exit” – was held on February 15th, 2017 at the Azrieli College of Engineering.
The oxygen for any start-up is funding, and to win funding one must persuade investors that the product the company is developing has potential to produce revenue that justifies investment. This is done by a presentation called a “pitch” and is varying depending on the context; it may be during accidental meeting, what is known as an “elevator pitch”; it may be a longer pitch during a formal meeting between the parties and might be more scientific or more business-oriented. JLM-BioCity has invited leading executives who have been on both sides of the table, sort of speak, to share with the audience the knowledge and experience they have amassed throughout the years:
Dr. Nurit Tweezer-Zaks, Senior Director, Established Products Portfolio Medical Leads, Sanofi Global R&D
Yaron Magal, CTO at Terra Ventures Partners
Dafna Gold Melchior, Founder and partner at Message Experts
Ran Shifron, General Manager & Founder, Healthier Globe
Dr. Joseph Straus, Partner at Imagine Bio
Know thy audience
While each had their own particular tips, there was unanimous agreement that a presenter must come prepared by knowing who the audience of the pitch will be and tailoring the presentation to the
need and interest of that particular audience. It is neither the presenter nor the product that is at the center of the pitch, but rather the audience. One must keep in mind that a pitch travels through a particular filter within any potential investor, and that filter is WIFM – “What’s In It For Me”. It is not a charity pitch; it is not a scientific presentation; it is not a social event. It is business. The message has to be short and clear, and must recognize the risks while highlighting the overriding benefits. By distinguishing your product and team beyond the competition and grabbing the attention of investors to your pitch increases its probability to move on to the next step in getting funded.
Dafna Gold Melchior, partner at Message Experts, gave a very insightful talk about how to build and deliver an effective pitch.
What has been conveyed may be applied in the upcoming round of application for MassChallenge Israel as presented by Bar Bartal, Partnerships Coordinator at MassChallenge (Israel). Mass Challenge, the largest startup accelerator, opened its Jerusalem branch in 2015. Application and further information can be found on their site.
JLM-BioCity is a non-profit initiative for the development of the Jerusalem Bio-Med Ecosystem. JLM-BioCity has a growing membership that currently exceeds 900 bio-professionals.