30 Mar Pitching For Investment Virtually
How we go about our everyday lives is constantly changing. None more so than over the past few weeks with the coronavirus outbreak. While some businesses have unfortunately had to close their doors, pitches to business angels are still going ahead remotely.
We have 75 business angels involved in HBAN (Halo Business Angel Network) Ulster, a joint initiative of Enterprise Ireland, InterTradeIreland and Invest Northern Ireland. 22 deals were reported by HBAN business angels at the end of December 2019 following the HBAN Ulster launch at the beginning of October 2018. These deals represent £4.1m of investment from the HBAN business angels within deals totalling £16.5m.
VC funding is thriving here but not all pitches are taking place in a boardroom.
While pitching is a daunting task for most founders, doing so over the likes of Skype or Zoom can provide them with additional headaches.
Some may argue that by not being in the same room, that connection between founder and investor is not well established. However, Jane VC has always been a virtual team, utilising Zoom to conduct meetings and pitches. It’s a lot more efficient for both founders and investors, and it allows them to meet founders from across the world.
Here are some top tips to consider when pitching remotely to business angels and venture capitalists.
- Choosing the right video conference software
For any remote pitch, you will need to have video conferencing software. Make sure to take time to research which one works best for you and allows interaction between the host and viewers.
Remember your investors will need to have the same piece of software and may not be as tech-savvy. Pick a common app that is easily downloadable such as Skype, Zoom or Microsoft Teams. Send a calendar invite ahead of the pitch and make sure your investors know how to connect to calls.
- The setting for your pitch
Pick an environment that is quiet and free of distractions. Your investors don’t want to hear the noisy traffic outside your office or see employees strolling past in the background. The clearer the audio quality, the easier it is for investors to understand your pitch.
If you plan on using background visuals, make sure they show up on camera and are easy to read.
- Test, test and test
Always make sure to test all your hardware ahead of time. You don’t want to be halfway through your pitch when your microphone cuts out or your laptop battery fails. Do a trial run ahead of your pitch with a colleague, checking your internet connection, sound, visuals, slide decks and any documents you plan to share on screen sharing.
The virtual pitch will become an important lifeline for many companies over the coming months. Businesses looking to scale must embrace this technology and learn to work a room without being there physically. Once investors and companies accept the benefits of remote pitching, it may become the new norm.
Our next pitch event will take place via the web on Wednesday 27th May. For more information on how to be involved, please contact C.Owens@clarendon-fm.co.uk