I attended a “Pitching Event” close to the City yesterday – 15 businesses, each with a 6-minute pitch slot followed by a brief Q&A session. By the end of it, I’m not at all sure who was more exhausted – the entrepreneurs, or the audience.
Of the 15 opportunities, just one was “old-world” business. The other 14 were technology based, a few simply replicating old-world business with a teccy interface to boost customer flows and cut costs, but the majority exploiting social media advances to create businesses that even Asimov at his best couldn’t have dreamt of.
The prize for most oft-used word undoubtedly goes to “App” – Apps for fashion, Apps for finance, Apps for logistics, for cycling, for – well – anything.
Some were pre-revenue, most weren’t. Some were aimed at SEIS, most were targeting EIS. Some were targeting very narrow sectors, others more broadly based. They all (with one exception) told a very good story, many of which left me thinking “that could work” or “I can see how they’re planning to exit”, and one, simply, “brilliant!”
Of course, a 6-minute pitch followed up by instant Q&A doesn’t really give you any opportunity to understand the business, its strengths, its weaknesses. But it does give you the chance to consider whether or not you want to find out more.
These events are restricted access – you have to meet certain criteria to attend. But if you can, it’s worth it on several levels:
- You get to meet some very imaginative people
- You gain a better understanding of the sheer breadth of opportunity that new technologies afford
- On a day when the ONS announced we were back in recession, you do get to realise it ain’t all doom’n’gloom
The information in this article was correct at the date it was first published.
However it is of a generic nature and cannot constitute advice. Specific advice should be sought before any action taken.
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