[RECAP] Founder Institute – Why Startup Pitches Fail? (and how to fix them)
(23/10) ANGIN attended a panel discussion session on ‘Why Startup Pitches Fail? (and how to fix them)’ at Freeware Space Kemang, Jakarta. The event was organized by Founder Institute (FI) Jakarta in collaboration with Plug and Play (PnP) Indonesia.
Jessica Marthin from PnP Indonesia opened the session by introducing PnP and their program. PnP is the most active startup accelerator in Silicon Valley and was invited by President Joko Widodo to open their Indonesian branch in early 2016.
Next, Andy Zain, the managing director of Kejora Ventures and the director of The Founder Institute Jakarta, explained what The Founder Institute (FI) is. FI is a business incubator, entrepreneur training and startup launch program that was founded in Palo Alto, California in 2009. Although based in Silicon Valley, The Founder Institute maintains chapters in over 80 cities and more than 40 different nations across the globe. It offers a four-month part-time program for new and early-stage entrepreneurs that help them develop their business ideas and form a company. Among the key requirements for graduation is the creation of a fully operational company by the end of the four-month program.
The event then proceeded to the panel discussion and Q&A session.
On the panel were:
- Richie Wirjan, CEO of Credens Strategic Branding, as the moderator
- Andy Zain, managing director of Kejora Ventures and director of The Founder Institute
- Stephanie Yoe, venture partner at Fenox Venture Capital
- Nayoko Wicaksono, venture partner at Plug and Play Indonesia
- Ashraf Sinclair, venture partner at 500Startups
Here are some of the key takeaways on how to make a good pitch.
- The presenter must remember the pitch by the back of their head
- The presenter must be confident
- The pitch shows what the startup has done (instead of what it promises to do)
- The pitch should never show any untrue information
- The projection must be feasible
- The grammar must be correct
- If there is any number, the unit must be shown
- And lastly, never start your pitch with an apology
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