Pitching Your Startups — Webinar Insights

Last week we held a discussion about how to pivot and pitch tech startups in the current climate and the current climate in Latin America. As we navigate the pandemic, we are discovering that some digital experiences are more effective and cheaper than their physical equivalents, such as media, gaming and more. Startups and companies that rely on a physical footprint will have a challenging time ahead.

Insights from the discussion:

• Pre-COVID, Mexico’s startup scene was vibrant and growing. Many silicon valley players were in Mexico City. This will hopefully continue post-COVID.
• At the early stages of the lockdown, the investment firm MexCap got the VC community together in Mexico so that we will respect deals and not take advantage of struggling startups. There is an authentic sentiment to make it happen.
• How should a startup founder think? Be active — don’t be paralyzed. Don’t be pulled into uncertainty. Think about your business and how it fits into the new reality.
• Strategize based on client feedback. Schedule calls with key clients. Don’t presume that you know how your clients will react at this time.
• Take time to talk to your investors. How are they thinking about your business and their investment? Anticipate that your runway needs to be longer than expected.
• Founders have the responsibility to ensure your employees’ mental health is maintained. You need to be positive for your employees and yet be realistic to what the future might hold. Be mindful of your employees and how they are doing. Be mindful of yourself, ask each other how you are doing and what you are going through.
• Pitching: use it as a time to look at your deck and update it. Update your language and revisit it. Make sure you are not tone deaf.
• Pitches usually start out with what you do. It should be presenting a benefit. What can the person reading your deck benefit from? Everyone will have a different benefit. They. will be different for investors, clients, etc.
• It’s an excellent time to reach out to investors. Everyone is at home and open to introductory calls even if they are not open to investing just yet. You can build investor relationships right now.
• It’s very company/industry-dependent in terms of pivoting. If you’re in a high-touch type of company, you’ll be having a hard couple of years. Adaptations will need to be made.
• For current startups who were disrupted, how should they pivot and navigate the current climate in terms of user engagement, customer acquisition and follow up funding? What are the key data points to consider?