Trend Forward Archives: Looking Back at 3 Years of Pitch-Offs
What we’ve learned from 3 years of Forward Thinker Awards.
For the last 3 years, we have hosted our Forward Thinker Award, a pitch-off competition at CES in Las Vegas. It’s our favorite event of the year because we get to connect with passionate entrepreneurs who are disrupting industries around the world. From hundreds of submissions, we select 12 companies to pitch across 3 days for a chance to win $10,000 each. To date, we have awarded a total of $130,000 to promising startups — no strings attached!
We invite CEOs and investors as judges to help us choose the winners. For example, last year we had representatives from 500 Startups, SoGal Ventures, AWS, Unlock Venture Partners, HAX, OMERS Ventures, and more to help us choose the winners. This gives the founders pitching an opportunity to get feedback from a diverse set of backgrounds.
Throughout the years, the diversity of the entrepreneurs’ pitching continues to grow stronger. Last year, we had 12 entrepreneurs representing 11 different countries (Brazil, Israel, & Japan to name a few!) and more than half of the startups were female-founded. The quality and diversity of the competition continue to be one aspect that makes us the proudest.
So, as we reflect on the last 3 years, and look ahead to what’s next in a post-COVID-19 world, we want to highlight some of the aspects of what makes a great pitch.
Start With the Why
Arguably the most important component of what makes a great pitch is the story behind the company and the founders. With only 5 minutes to pitch, it is critical to get across the journey of who you are and why you wanted to solve this problem. BestBeing, a startup focused on connecting qualified mental health providers with consumers, shared their personal journey and why what they’re building is important to them. This gave them a more personal edge and quickly allowed the judges to better relate to the problem they are addressing. Highlighting your passion can be one of the most memorable aspects of your pitch.
Don’t Just Tell, Show!
Another powerful element of a successful pitch is the use of a product demo, if possible. In many cases, being able to physically see the product in action can really bring a company to life. It allows the judges to better grasp what the product does and how it looks. This doesn’t just have to apply to physical products. A demo of your software can help just as much, as evident by one of our winners last year, Furnwish, who showcased their AR platform for furniture stores on an iPad.
Don’t be for Everyone
The third highlight we found across dozens of pitches is focusing on the customer. Some of the best pitches have come from startups that know who their customers are, and more importantly, who their customers are not. Being able to say why someone is not a good customer can emphasize your focus and understanding of your product or market. Roby, a new software alternative to the traditional office helpdesk ticketing system, was able to clearly state who they are after, and who they are not after. Share who your customers are, what you’ve learned from them, and how you’ll acquire more of them!
The last 3 years at CES have been a blast. We’ve had a ton of fun meeting and connecting with hundreds of entrepreneurs, hearing their stories, and learning about their exciting companies. Thank you to everyone who has been a part of CES with us — we couldn’t have done it without you! Unfortunately, due to COVID-19, we will be unable to meet in Las Vegas for CES 2021. Instead, we will be hosting a Virtual Forward Thinker Award in early 2021. Stay tuned for more details later this year!
In the meantime, if you want some friendly and honest advice on how to improve your pitch, please reach out to us at GoAhead@trendforward.com. We would love to hear from you!
