Startup pitching competitions – to be or not to be?
Are you ready to show the world your innovative product or service? Check why startup pitching competitions are a good opportunity to network with VCs.
Every startup founder knows how challenging the acquisition of capital is. Startup pitching competition is a contest, in which startups are presenting their idea for a business in front of investors, competing for a cash prize or investor capital. It is one of the most popular ways to get funding and publicity for a startup.
Startup competitions: is it worth participating in?
Is a startup contest a springboard to success? It might be. Even if your startup doesn’t win, the competition may be a way to enter the world of VC and angel investment. There are also other good reasons.
6 benefits of participating in startup pitching competitions
- Gaining experience – applying to a contest, you have nothing to lose. You can have fun and become better and better at pitching.
- Introduction to investors – many investors from various fields take part as jury, searching for the next unicorns. It's an invaluable chance to gain their attention and expand your network.
- Feedback from experts – after your presentation, the jury of the contest will share their opinions about your idea for a business, also pointing out gaps and weak points, which can show up in a collision with a market. It’s valuable feedback, which can help you improve your business plans and avoid costly mistakes.
- Pitchdeck improvement – receiving feedback to your pitchdeck will give you an opportunity to improve it to better tell a story of your business and use it in another contest, maybe this time with excellent results.
- Money prize – solid support helping in the scaling of a startup.
- Publicity – if your startup will enter the final or semi-finals, there are high possibilities that journalists will create features from a contest, mentioning each startup. And it means more exposure in the media and setting your startup in the spotlight.
At Infoshare we have organized Startup Contest since 2014. Last year in the first-ever online edition of Startup Contest British Medtech startup iLoF became a winner. How do they evaluate this experience of participating in SC?
Infoshare offered a unique opportunity to iLoF, beginning with the amazing program they planned, and marking our path with the results obtained thanks to the prize we were awarded with.
It is greatly appreciated the help and confidence given by Infoshare to contribute with this project and at the same time with all the patients suffering from heterogeneous and complex diseases such as Alzheimer - and we highly recommend everyone to participate in 2021!
says Luis Valente, CEO, and Co-founder of iLoF.
How to prepare for the startup pitching contest?
First of all, prepare in advance. Focus on your presentation keeping it simple. And of course, do your research and check the requirements. Each contest has its own rules and criteria.
To properly prepare for the Contest you should make sure that all areas we assess are included in your pitchdeck. What is more, update it before attaching. Do not send us a file prepared for any other competition or for any other organisation. And last but not least make it pitch deck, not a presentation that requires your voice to be understood or a business model canvas or any other file that is difficult to tell itself.
says Agnieszka Meller, responsible for the startup & investor part of Infoshare.
What are we looking for in startups during the Infoshare Startup Contest?
Let’s share how we do this. Each year hundreds of startups take part in Infoshare, finding here opportunities for networking, learning, and exposure to their brands. From the submitted applications to Startup Contest we choose 30 startups, inviting them for the semifinals. Next, 5 of them are selected to compete in the final. During the final, the audience gets to know the winner of 1st, 2nd, and 3rd place.
How does the application process work? A startup needs to register on Startup Pass and send us an application form with a detailed pitch deck. Curious about our main criteria?
Assessment criteria cover team, business potential and level of product innovation. Team means showing not only founders, but also core members (business, technology, marketing and sales). Business potential means for us market fit and market size, USP, client profile, and competition analysis. And last but not least, the level of innovation should focus on proving that the product is really new or at least substantially different than what already can be found on the market.
– says Agnieszka Meller.
Startup Contest ’21 application process is open only till the 31st of July
There are only a couple of days left in the application process for this year’s edition of Startup Contest. If you're a seed or early-stage startup and you’re ready to compete for the main prize (20,000 EUR in cash) and present your startup, send your application.
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