Hack the WebSummit – Notes for 2015
Here are some notes taken during this wonderful exhibition of all the world startups on 2014 if you want to hack the WebSummit.
Pitch: Thinking to arrive here and meet investors, approach them and get a signed check is something very challenging. Investors have a red bracelet, and go for the summit in search of ideas, people and interesting products. Sometimes they could approach you, if they find you interesting, but it’s not excluded that you can stop them for a talk. Anyway it will be like ‘how to stop a girl in the club to ask her to go out for a drink and maybe go further’. So my advice, it’s to differentiate from the others, and define a strategy.
Contact information: Choose your investor is very important especially according to the progress of your idea. In fact, if you go to pitch your idea, although very innovative, it may not make much sense approach a big VC firm like “Index Ventures”, on the contrary if you have a startup with 500,000 users then need to focus on blue-chips.
Pitch and Exhibition:
Exhibition: If you chose for exhibition then you are at your desk with your billboard, ready for your demo. Two basic things are very important, the first how to stand out from other thousands of startups, the second one it’s especially those who stop. Investors aren’t so many, and as mentioned you will not be the only ones who want to stop them, so important to decide how to move.
Communication strategy: You can decide how to communicate, whether through a big screen demo, or through an iPad showing your product, but it’s important to have a backup plan for possible network outage (see below). Recommended to have something to give after the pitch as reminder. You can decide between flyers, business cards, or gadgets. The last ones are often the most requested. If you think getting dressed like a ninja, or with a orange dress, please remeber that you will not be the only one.
On the stage – Pitch contest: If you have been chosen to go on stage (there are three), then you live your moment of glory by presenting your startup to the public and a jury of three people that each time changes. Here are some notes of the most aked question:
- Business model, how do you make money, and if the business is scalable?
- How many resources do you need to expand?
- Do you have any regulations that may block the product or any privacy issues?
- Do you have any large competitors that could make you go out of business?
Be Prepared for the worse: Remember to prepare everything and to always go in the details. There are small things that could create big issues. Such as the WiFi that does not work (as happened during the WebSummit2014) or the presence of three other startups that have your exact same idea / product.
Apple rules: It seems that if you don’t have at least one Apple device, you couldn’t do startups.
Business Card: Participating in a web technology fair and see that the most important way to exchange contacts, or perhaps the only one, it is the “business card”, it makes me smile.So prepare a good quantity, if you want to network, and after add them to your linkedin network. As most beautiful or strange business card you have, as easily people will notice among the hundreds that they will collect.
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