investor pitch deck 101
Post on 18-Jan-2017
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www.medtechchallenge.com
• Understand key pitch deck elements• Inspiration for how to visually represent
complex ideas• Tips for how to deliver a successful
investor pitch
9. System ready for full-scale deployment8. System incorporated in commercial design7. Integrated pilot system demonstrated6. Prototype system verified5. Laboratory testing of integrated system4. Laboratory testing of prototype component or process3. Critical function: proof of concept established2. Technology concept and/or application formulated1. Basic principles observed and reported
9. Plausible exit8. Cash to exit7. Unit economics – margin validated6. Reimbursement5. Regulatory certainty/difficulty4. IP: Patentability, FTO & block3. Attractive solution & ID of MVP2. Compelling clinical need + large market1. Effective team
9. Plausible exit8. Cash to exit7. Unit economics – margin validated6. Reimbursement5. Regulatory certainty/difficulty4. IP: Patentability, FTO & block3. Attractive solution & ID of MVP2. Compelling clinical need + large market1. Effective team
9. System ready for full-scale deployment8. System incorporated in commercial design7. Integrated pilot system demonstrated6. Prototype system verified5. Laboratory testing of integrated system4. Laboratory testing of prototype component or process3. Critical function: proof of concept established2. Technology concept and/or application formulated1. Basic principles observed and reported
• Regurgitation of business plan or technology roadmap
• A sales pitch• A brainstorming tool
or a way to collect your thoughts
• The Big Idea• The Problem• The Solution• The Market• Market Adoption• Business Model• Proprietary Technology• Competition• Competitive Advantages• Traction/Validation• Milestones
• Regulatory & Reimbursement Strategy
• Who We Are• Press/Testimonials• Financials• The Ask• Summary
Choose Wisely!
TaglineThink about including key information like name, title, email, mobile phone number
Bold, declarative statement. Ambitious.
Big.
• Frustration? What is broken?
• Why should your product exist?
• What’s the opportunity?
• Show how your product works in 3 easy steps– Describe your product, including key differentiators– Describe the non-confidential mechanism of action– Secret sauce or magic?
• Break to demo if its short and worth emphasising one or two key insights or features– Tell a story – future client or an example of a
current client
What macro-trends, new enabling technologies, etc. give you a chance to succeed when others who tackled this pain point have failed
• Status of any patent filings (issued, applications)
• Details of any license agreements
• Status of any other IP (e.g. trademarks, trade secret, etc.)
• Massive (but realistic) market• Data/stats on market size, existing
proof points, etc.
Total Addressable Market
Serviceable Addressable Market
Serviceable Obtainable MarketTypic
al
Top-
Down
$36Billion
Total Skin Cancer Diagnostic MarketSource: Some Reputable Source
$4Billion
Telehealth Skin Cancer DiagnosticsSource: Some Reputable Source
$50Million
My Product Opportunity
$10 per use
Number of at risk people Something big% with smartphones SmallerPrice per report $10.00_____________________________________________Opportunity/Year at x% penetration Impressive $
• Direct vs indirect competitors– Potential entrants
• Competitive advantage
• Barriers to entry for new players? (money, time, expertise, relationships, patents)
Feature A Feature B Feature CYOUCoACoB
Competitor logo• Bullet point summary of model, traction, limitationsMarket shareCompetitive differentiation Defence from competitive response
Market landscape comparison
Feature List Comparison
• List approaches/tactics you’re going to use to get customers. Initial set plus over time. – How long is sales cycle to get a client?– Expected conversion rate?– Average cost to acquire a customer?– Lifetime value of customer?
• Key expenses/ time-efforts• AUS, US or EU first? Why?• Direct sales vs independent reps vs partner?
Total Addressable Market: [$XB industry]Distribution Strategy: [Your unique advantage + channels you plan to test
Launch[Dates]
Traction[Dates]
Growth[Dates]
Main Focus:
Priority Tasks:
Target Results:
[X]
[X]
[X]
[X]
[X]
[X]
[Launch web & iOS app]
• [Improve signup flow• Finalize user referral process• Accepted to App Store• Drive initial signups• Measure DAU totals]
• [X initial users• Convert X% of existing email list• Understand DAU & optimize]
5
• Current product development status, what near future looks like
• Stats on, or plans for getting, initial customers
“By 2020, over 85% of general practitioners will use cloud-based patient management software solutions”
Live Customers Implementing Pilots Prospects
Logo Logo Logo Logo
Logo
Logo
Logo
Logo
• Describe the regulatory pathway for your product (if applicable)
• Describe the reimbursement environment for your product or similar category products (if applicable)
• List pics + short bio on each founder/senior team member
• Include info on board members & advisors– State verbally if Board is investing (big
points). If no, don’t bring it up, have a reason for why not if asked.
• Include info on future hires• Outline division of responsibilities
o How much are you raising now?o How much have you raised previously?o What will you use the money for?o When and how do investors get a return on
their investment?
• List 3-5 of your strongest points, distilled down to memorable sound bites
• What is your call to action
founders@yourcompany.com0413 467 201
<Impactful quote from customer or similar>
What We Do:• ExampleCo is a [zero-jargon description of
product] used by [broad but addressable market] to [benefits].
• We are focused on the [$X billion target niche] market.
Current Status:We are [company stage, e.g. pre-revenue, pre-launch, etc.].
Traction to date includes:• (Month or Quarter 1): X key metric, Y key
metric• (Month or Quarter 2): X key metric, Y key
metric
Currently Raising:• [$X-Y million] seed round.• Previously raised [$X million] from
[investors].
Team Experience
Pilot Customers/Partners
Logos of Past Companies & Top Schools
Logos of Past Companies & Top Schools
Logos or Other Proof of Early Traction
Logos or Other Proof of Early Traction
Borrowed from NextView Ventures
($000)
Milestones Month Expenditures Customers RevenuePrototype Jan 16 $150 0 $0Clinical Trial Jun 16 $100 0 $0Reg Approval Jan 17 $100 0 $0Launch Jan 17 $100 10 $100
Feb 17 $100 100 $1,000Breakeven Mar 17 …
2016 2017 2018Unit SalesConsumablesRevenueGross ProfitOPEX
• Sales & Marketing• Customer Service• Product Development
EBIT
Amount % of TotalFounder’s InvestmentsAngel InvestorsVCBank LoansNon-Dilutive
o Grants_______________________________________TOTAL CAPITALISATION
TacticTactic
TacticTactic
TacticTactic
# Cu
stom
ers
Time
TacticTacticTacticTactic
TacticTactic
TacticTactic
[X]Customers
TacticTactic
TacticTactic
12
Path to [X] Customers
Borrowed from NextView Ventures
HeadshotHeadshot
HeadshotHeadshot
LogoLogo
LogoLogo
“Quote.”
“Quote.”
Test Customer LogosTest Customer Logos
• Proof of concept data point• Proof of concept data point• Proof of concept data point• Proof of concept data point
17Borrowed from NextView Ventures
StartupStartup
BuyerBuyer
acq. by
[$X]
VCVC
VCVC
StartupStartup
BuyerBuyer
acq. by
[$X]
VCVC
VCVC
StartupStartup
BuyerBuyer
acq. by
[$X]
VCVC
VCVC
Public CoPublic Co
[market cap]
Public CoPublic Co
[market cap]
Public CoPublic Co
[market cap]
• Startups in the [industry niche] space are acquisition targets for companies such as[Examples], at valuations around [N] times price/sale.
21Borrowed from NextView Ventures
Explain how you have taken risk out of the project, list the remaining major risks.
o Technical Risko Market Risko Execution Risk
Specific Risk
Specific Risk
Specific Risk
Mitigation Strategy
Mitigation Strategy
Mitigation Strategy
• Detailed value proposition to clients/users/partners
• Pipeline of potential clients, % likelihood of closing, revenue potential from pipeline
• Partnerships/agreements/structures• Proprietary aspects not discussed in core
deck• Additional strategy slides: ex) how to
avoid/limit circumvention
• Competitors capital raises/investors• Head count (# employees) projection/key
hires needed• Additional screen shots from demo• Testimonials (key opinion leaders, potential
future partners, potential future acquirers)• Unit economics analysis• Details on research, publications (without
being too academic)
Passionately & clearly communicate a visionDon’t oversell - investors can easily see through crapFocus on your strengths & remain candid
Send one or two high-level members of your team, not the whole crew An exceptional entrepreneur or team who has experience and
drive
Large enough and interesting enough market opportunities
A smart, differentiated, and defensible product/service that will stand out initially in its market and be able to protect its margins over time
If you can’t explain it simply, you don’t understand it well
enough.
- Albert Einstein
• http://www.buzinga.com.au/buzz/startup-pitch-videos/
• http://thepitch.fm/• Interesting way to explain a pivot:
http://www.slideshare.net/fabulis/fab-2011-timeline
• If you regularly get a specific question, address it head on• Leave room for questions, this is when decisions are made
about whether & how much to fund you• Each slide should stand on its own without explanation – use
clear figures to convey a lot of information without a lot of text• Don’t read slides – connect with your audience• Don’t use industry acronyms/terminology or reference
companies they won’t know• DO NOT ask them to sign an NDA – most won’t
• Retitle your slides• Minimize bullets & text• Add visuals – but NOT stock photos
• Remove redundancy• Reduce phrases to words• Omit gratuitous intensifiers and qualifiers• Expunge expletives• Negate nominalisations• Delete superfluous phrases• Avoid clichés• Watch for words like
o Thato Absolutelyo Veryo Always/Never
• This estimate is conservative• Won’t need funding after this round• Device works, we’ve tested it in our
lab / in pigs / in China• We’ll be on the market in X years• We’ll get acquired before expensive
trials/commercial launch• We’ll capture x% (e.g. <40%) of the
addressable market in <5 years• The addressable market (or worse,
revenue) opportunity is $1B+
• Get introduced – they don’t respond well to random calls/e-mails
• Review investment criteria• Review portfolio companies
• Arrive early to set up computer, projector, get access to wifi, etc.
• Ask investors to be introduced, provide a quick background on themselves and the fund (you may learn something!)
• One joke – make audience laugh at least once, but don’t do a comedy routine
• Keep detailed notes of the interaction –who was at the meeting, their specific comments
• If requested, send a follow-up meeting PDF with additional slides (they may have requested you to create) and some appendix slides
• Stay on their radar• Guidelines for following up:
o Be subtleo Be conciseo Be persistento Use multiple channels
o Let time passo Be graciouso Accept “no” for an
answer
• Be crunchy, concise, clear• Be well-prepared
o Great slideso Know your content forward & backwardo Know the investors inside & out
• Storyboard your slides• Discuss storyboard with
your mentors
storyboarding notesCore story:
Highlights:
Hesitations:
Notes:
1.Draft your slide order2.Draft each slide’s message3.Step back and see if they work
together. If not, change the messages or move them around.
4.Add each slide’s rough content5.Now consider flow between adjacent
slides6.Iterate, test & rebuild
Dr. Laura FaulconerCOO
laura@stcaustralia.org0413 467 201
1 Dalmore DrScoresby, VIC 3179Australia
www.STCaustralia.org +61 3 9763 4777
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