SVASE First Impressions Pitch Feedback Event - Next Generation Internet October 14, 2008

SVASE First Impressions Pitch Feedback Event - Next Generation Internet

Start: 10/14/2008 - 5:30pm
End: 10/14/2008 - 8:30pm
Contact Info:
Program Chair - Chad Salinas
Email: [email protected]

URL:www.svase.org/?q=node/758

Submission deadline for Next Generation Interent startups wishing to present at this event is 14 days before the event.

First Impressions provides SVASE entrepreneurs with the opportunity to present to and receive formal structured feedback from prominent members of the entrepreneurial and venture funding communities. This is a great way to gain first hand experience on pitching for Venture Capital, make connections with VCs and Angels, and get a clear understanding on how to move your business forward.

"My presentation at First Impressions led not only to a number of valuable investor and VC contacts, but also brought me closer to other entrepreneurs, with a valuable exchange of experiences. In addition, winning the popular vote was a key affirmation that the pitch worked." Jan Samzelius, CEO, ByteShield

AGENDA:
5.30-6.15 pm: Networking and Finger Food
6.15-8:30 pm: Startup Presentations, Q&A plus feedback

LOCATION:
Wilson Sonsini Goodrich & Rosati, 950 Page Mill Road, Palo Alto, 94304

REGISTRATION:
Pre-Registered Audience members - $25 SVASE Members; $49 Non-Members. For walk-ins on the day, add $10 to the Pre-Registration rates.

Presenting companies, INVITATION ONLY - $45 SVASE Members; $95 Non-Members

Optional Pitch Presentation review with Chris Gill, President of SVASE & member, Sand Hill Angels – 1 hour $150; 2 hours $225 (contact Chris Gill at [email protected] to arrange a mutually convenient time and location)

This event is co-sponsored by:
Wilson Sonsini Goodrich & Rosati, www.wsgr.com

Event Description
SVASE First Impressions Pitch Feedback events provide the opportunity for entrepreneurs and startup teams seeking their first round of funding, other than friends & family, to gain experience in creating and delivering a clear, concise pitch and in receiving structured feedback from a panel of experienced investors, on both their pitch and their business propositions.

Feedback Panel – 3 experienced VC/Angel investors TBA

SVASE First Impressions Frequently Asked Questions (FAQ)
The following FAQs have been compiled by Chad Salinas, the Chair of the SVASE First Impressions program.

What is the purpose of First Impressions Funding Pitch Feedback events?
SVASE provides opportunities for entrepreneurs to be exposed to best practices, helpful people and opportunities to grow. It is up to the entrepreneur to take advantage of these opportunities. At First Impressions Funding Pitch Feedback events, SVASE provides opportunities for growth through experience and feedback, and the chance to meet helpful people. SVASE does not act as an introduction agent or broker.

What stage should a company be at for First Impressions?
First Impressions events are intended as a platform for entrepreneurs and startup teams seeking their first round of funding, other than friends & family, to gain experience in creating and delivering a clear, concise pitch and in receiving structured feedback from a panel of experienced investors, on both their pitch and their business propositions.

What are the criteria for selecting companies to present at First Impressions?
First Impressions provides a platform for entrepreneurs with little or no experience of presenting to investors, to get some real life experience & structured feedback. Companies invited to present MUST be able to provide the following information (not necessarily in this order) in no more than 10 minutes. To assist entrepreneurs in achieving this, SVASE provides regular Funding Pitch Workshops featuring the SVASE Funding Pitch Presentation Deck at a cost of $25 to SVASE members, and one-on-one presentation reviews – 1 hour $150, 2 hours $225 – with Chris Gill, President of SVASE and Member of Sand Hill Angels.

- What is the problem/opportunity you are addressing?
- What is your solution to this?
- What is the size of the market, and what % of this do you think you can capture?
- What is your business model? How will you generate revenue & profit?
- What are your marketing & sales strategies?
- How does what you offer compare against the competition?
- Milestones - achievements to date, key future milestones.
- Financials - income & outgoings to date, 3 year forecast. These should line up with the Milestones.
- Who’s on the Team - what have they accomplished to date, what gaps need to be filled?
Companies that are unable to provide the above information are not ready to present at First Impressions.

Who will be on the panel?
First Impressions panelists are recruited from a roster of known angels and VCs who are experienced not only in evaluating startups, but also in providing structured feedback.
Other investors in the audience will be invited from the broad investor community in Silicon Valley.

Who will be in the audience?
SVASE First Impressions Pitch Feedback events are open to anyone (Funding Pitch Workshops are exclusively for entrepreneurs and startup executive teams), so there will be a mix of VCs, angels, service provides and entrepreneurs. Entrepreneurs are encouraged to attend these events to see first hand examples of effective presentations and presenter styles.

How many events does First Impressions have per year in each segment?
Based on the numbers of entrepreneurs and startups in Silicon Valley, we would expect to hold the events focusing on the following topics:
- Next Generation Internet
- Mobility
- Digital Media
- Life Science
- CleanTech
These will change over time, and more may be added, depending on demand

What are the First Impressions Timelines?
Call for Companies – While candidates may forward presentations and Executive Summaries (ES’s) at any time, companies that wish to present at the next First Impressions event should submit materials approximately 25 days before the event.
Presentation Submission Deadline - The deadline is the 20th of the month preceding the event. Program Chair has been flexible with this deadline in the past, but priority has always been given to those who have met the deadline. Only after having exhausted the current queue of prospective candidates, do the Program Chair and SVASE President consider other prospective candidates.
Candidate Selection Date – During the last week of the month preceding an event, the Program Chair and SVASE President conduct a substantial and rigorous review of the prospective candidates’ PowerPoint presentations.
Notification & Registration – All prospective candidates are notified by the first week of the month of the event on their status. In the past, notification and statistics of the review have been sent via e-mail. Going forward, the notification will be augmented on either the SVASE web site or Chad Salinas’ Tech + Finance blog. SVASE asks that all selected presenters register on the SVASE web site and send a confirmation e-mail to [email protected]
First Impressions (actual event) – The actual event is held bi-monthly on the second Tuesday of Feb, April, July, Oct, with exceptions for various holidays or major Silicon Valley events that may conflict with the date. Funding Pitch Workshops, which expose entrepreneurs to how VCs and Angels evaluate potential investments, and how to prepare an initial Funding Pitch, are held on the second Tuesday of Jan, Mar, May, Sep, Nov

How do I get a copy of the SVASE presentation template?
Send an e-mail to [email protected] . The reason you need to send an e-mail, as opposed to automatically downloading the SVASE template, is that Chad needs to get a sense for how many prospective candidates are interested in the next event. Oftentimes, initial inquiries come from window-shoppers who use Gmail and Yahoo accounts with indiscernible names. Chad still e-mails the template to anyone who requests it even though some have no interest in presenting at an event.

Do I have to use the SVASE presentation template? Can’t I just send you my existing Executive Summary (ES) or a PDF file?
Due to the 200+ inquiries for a particular event, Chad does not have the time to sort through the various submissions unless they are in SVASE’s format. Chad receives numerous 2-page Executive Summaries which do not give enough information to review, plus numerous 30+ page business plans which give too much information to review. Lastly, even though most prospective candidates may have an existing investor presentation, it is usually not specifically geared to be delivered in the 10 minutes that First Impressions allows. Lastly, the panels at First Impressions events score the presenters on dimensions taken directly from the presentation template.

How will my company be scored?
First Impressions has a Panelist’s Winner and a People’s Choice Winner. The panelists score presenters quantitatively and qualitatively on the following 8 dimensions:

Management Team
Customer understanding
Market Opportunity
Business Model
Competition
Product
Financials
Exit Opportunity

An example of the “Quantitative” scoring follows:

Quantitative Analysis:

Company Name

Criteria
Weight
Panelist 1
Panelist 2
Panelist 3
Panelist 4
Score

Management Team
25.00%
5
7
7
7
6.5

Customer Understanding
12.50%
7
8
5
6
3.25

Market Opportunity
12.50%
5
7
5
5
2.75

Business Model
12.50%
5
6
6
5
2.75

Competition
12.50%
4
7
4
6
2.625

Product
10.00%
5
5
6
7
2.3

Financials
10.00%
4
7
3
5
1.9

Exit Opportunity
5.00%
1
8
2
3
0.7

Total
5.694

The “Qualitative” feedback is sent to the presenters in PDF format within a few days after the event.

The People’s Choice Winner is simply the audience (non-panelists) choice of the best presenting company on the night of the event.

The scores are tallied the night of the event and the winners are announced.

What if I am not invited to present this time around?
Chad has created a priority queue of potential presenters who will be considered for the next event. Chad moves each of the candidates who request to be reviewed to the queue for the upcoming event. These prospective presenters are also given the opportunity to update their template by the submission deadline for the next event.

Why wasn’t I invited to present?
Chad Salinas and Chris Gill formally review each candidate’s presentations for each event. Chad and Chris see more good presentations than can be accommodated in the 5 companies per event format.

That being said, the most common reason for not being invited is that the idea does not appear to be viable. Lack of viability may have to do with the following:

· Lifestyle investment – insufficient growth potential to allow the venture capitalist an exit opportunity at a high enough multiple.

· Half-baked – the business idea has not been thought through with the rigor that is the norm in the Silicon Valley.

· Me-too business – the panel, and frequently the audience, is arguably comprised of some of the most sophisticated early-stage investors in the world. You need to have a business idea that is differentiated, which you need to be able to articulate. Each review session witnesses presentations that have not considered switching costs, barriers to entry, IP defense, or competitive landscape.

Can I observe an event?
Yes you can. All you have to do is register as an audience member.

How do you determine the order of the presenters?
The order is determined alphabetically by company name.

How long are the presentations?
You have 10 minutes to complete your core presentation. For the next 10 minutes thereafter, the panelists ask questions and give feedback. If the panelists run out of questions and feedback, Chad invites the audience to participate.

Are there any breaks between presentations?
We anticipate 1 minute of transition from the previous presenter’s question/answer/feedback portion to the succeeding presenters pulling up his/her presentation. This allows the panelists to finish their written evaluations.

How many presenters will there be per event?
We provide the opportunity for 5 companies to present at each event.

Can we meet in-person or via telephone to review my presentation?
One-on-one presentation reviews with Chris Gill, President of SVASE and Member of Sand Hill Angels, are available at a mutually convenient place and time. The cost for this is $150 for 1 hour, $225 for 2 hours. To schedule a review meeting, email Chris Gill at [email protected]

Can I get a confirmation that you received my presentation?
If you don’t get an e-mail from Chad Salinas by the 21st of the month preceding the event and you submitted your presentation, please e-mail [email protected]. I don’t believe we have ever had a submittal fall through the cracks, but given the number of e-mails per event, better to be safe than sorry.

Official Website: http://www.svase.org/?q=node/758