First we want to give a big thank you to the SV Angel team, who gave our MIT Sloan E&I Club Pitch Trek (2nd edition) a great welcome to San Francisco.
During this amazing experience, we learned invaluable insights on how to increase start-ups success with Angel investors.
Top three take-aways:
– Founders: always be strengthening your team. Founder-market fit is gaining relevance, and especially in the consumer space, circumstances change a lot.
– Metrics and patterns: map key metrics for your market and work on them (e.g.: app user retention). Think about what will differentiate you from your competitors.
– Funding: put-off fundraising until you need the money. Suggested reading: Paul Graham’s articles.
SV Angel has a team of 13 people, and investments in over 400 start-ups today, mainly in seed stage. They are true believers of a good long term relationship with founders, and cooperation among co-inverstors. With all this experience, it was an honor to receive feedback and suggestions for our Sloanies’ startups.
In addition, Kevin Carter, Partner, shared his perspective about the changing landscape in funding of startups: “If you have the guts to build a company, you should be enabled to do that” in reference to the growth of accelerators and incubator programs. He also mentioned the importance of signaling to investors in your pitch, adapting your it to your audience, especially when they are not familiar with your startup’s topic – all important advice for our five Sloan entrepreneurs.
The founders presenting at this trek were:
– ArtLifting – Spencer Powers: The art gallery featuring the work of homeless & disabled individuals.
– FoodConnect China – Charles Lee: Making accessible food safe in China.
– Fuel Drop – Josh Jensen: We fill [the tank]. You drive.
– Genesis Technologies – Jason Snyder: Simplifying synthetic DNA writing.
– getConnected – Tareef Jafferi: Communication made better.
Once again, thank you so much Kevin Carter, Abram Dawson and Mike Liu for taking the time to meet us and support our entrepreneurs.