The next stop on our last day of Silicon Valley Pitch Trek 2014 edition was at KPCB. We want to say a big thank you to Creighton Hicks (Partner), Anjney Midha (Partner), Andy Chen (Director), Cindy Cheng (Digital Team), Aviv Gilboa (University Relations) and team for such a warm welcome. In the most supportive Silicon Valley style, to every MIT student pitching, there was at least one contact that they could introduce him or her to.
KPCB is organized in three verticals: Digital (consumer and enterprise), Life Sciences and GreenTech. The team who received us was mostly engaged with Digital. As trends observed, they indicated to be interested in IoT and crypto currency related startups. Moreover, KPCB shared the word about their Fellow Program, which should open applications in a couple of months for Summer interns to work in their portfolio companies. Keep posted, Sloanies!
Besides the introductions to relevant contacts, KPCB’s team gave feedback to our entrepreneurs regarding the construction of the pitch. A selection of such were:
– Clear go-to-market strategy: “what customers and segments will you target first”?
– Adoption: state how you imagine the adoption of your product will be.
– Exit or funding benchmark: whenever possible, show startups that exited your field of action, or competitors that received funding.
– Competitive analysis: compare your features versus competitors’ to make your differentiators clear.
– Customers’ pain-points: be clear about what are the pain-points you are solving to the customers.
Thank you again KPCB for taking the time for hosting us, and for sharing valuable feedback and contacts with our entrepreneurs!