Live Pitch was born from another Funding Universe event called "Speed" Pitching. "Speed" Pitching is similar to speed dating. In speed pitching, ten screened businesses meet in a room filled with 30-50 investors. The goal for business owners is to pique the interest of Angel and Venture Capitalist for future funding. For the Entrepreneur they get the undivided attention of 30-50 investors and the investors benefit because they can be introduced to 10 vetted businesses through Funding Universe in less than two hours.
Businesses are allowed four uninterupted minutes to present their venture. They then have three minutes to answer questions and bing bam boom they are done. Four minutes is not a lot of time to explain an entire business, so the pitches have to be precise, thorough and engaging. Many businesses who have participated in our "Speed" Pitch event have asked Funding Universe if they could watch a Speed Pitch before participating in one. Alas, "Live" Pitch was born.
Last week the five qualifying businesses screened to present were
After presenting, the audience was allowed to invest $200 in "FU Funny Money" into any of the five companies. The audience in conjunction with the six panalists produced the top two companies. The two "Live" Pitch winners were Ian Ellis of Gruvie and Cary Snowden of ListPipe. (In a bit of unbiased reporting, I would like to point out that I only had one client in the competition and he won)
Our next Speed Pitch event will be on October 24th at the Larry H Miller Campus in Sandy, Utah. We invite you to come out and see how Funding Universe facilitates the interface of Small Businesses with Angels and VC's.
Joel Nielsen is a Venture Consultant at Funding Universe and can be contacted at firstname.lastname@example.org