Startups meet Angels Seattle (formerly Angels, Pitches and Beer)

Startups meet Angels Seattle (formerly Angels, Pitches and Beer)

How do we evaluate teams for Seattle’s Startups meet Angels meetup (aka Angels, Pitches and Beer)?

Selection Process:

  • 10 teams are selected from companies that sign in-person that evening, from 5:30-6:00 PM. Companies will be picked on qualification and order or registrations:
    • Team, Product and Revenue
    • Team and Product
    • Team
  • Sign up for Pitch Prep after 5:30 PM when you arrive – fair warning
  • Please keep in mind, the team at The Riveter are our host for the event – not your personal host (though you should consider joining!) and they don’t serve you. If we hear back negative or demanding requirements from founders, we’ll bounce you off the list. Please start with #GiveFirst not take first. I’m a big fan of the “no assholes” rule – happy to invoke it if necessary

Selection Rubric in Pitch Room

Here’s a copy of the rubric that Pitch Prep team will be using to score your pitch. Each member of the Pitch Prep team will award the scores and top-ranked teams will be presented for numbers 7-12 based on the top score at the next available slot.

Want to improve your odds of making the short list? Have one of the Angel attendees forward your deck three plus (3+) days prior to the event. It doesn’t guarantee you will pitch!

All scores are ranked on a 1-4 basis.

  1. The evaluator hates (strongly dislikes) your idea – hate is such a strong word… so think of it as a “1”
  2.  We don’t like it – not as negative as a 1, but still… you may have missed something in your pitch or a major milestone. Think about attending a pitch clinic or “6 Month Startup – Ideation to Revenue” and get some coaching.
  3. We like it! That’s not a 4, we don’t love it, but it’s a good place to start!
  4. We Love it!
Company Name _______________

Event Name       _______________

Evaluator            _______________

Total Score         _______________

           Score

 

Team

  • Domain Experts
  • Diversity
  • Serially successful Founders
  • From great companies
  • Functionally competent (hacker, hustler, designer/marketer)
 
Idea

  • Big “category” Idea
  • Early/Late continuum
  • Technically Achievable
  • “Pain pill or vitamin”
  • In investors “investment thesis”
 
Product

  • Customer first focus
  • Clear Value Prop
  • Design/Ease of use
  • Clear launch and scale offering
 
Market/Customer

  • How big is the market – TAM/SOM
  • Unmet customer need
  • How many incumbents
  • Nascent Go-to-market system
 
Competition

  • Barriers to Entry
  • Differentiation
  • Well funded competitors in Crunchbase
 
Business Model/Finance

  • High transactional value
  • Clear Profit Model
  • Capital Efficient -anything about previous financing/cap table?
  • Scalable
  • No “Bad” things on Cap Table
 
Traction

  • Customer adoption
  • Customer Engagement
  • Early Revenue
  • Know the Unit Economics
 
Timing

  • Emerging innovation
  • “Meta” factors are favorable – industry/market tailwinds vs headwinds
  • Established demand
 
Intellectual Property

  •  IP Required? Is it a market the requires IP
  • IP in process
  • How will you build a Moat over time?
 
Clear Ask

  • Do you want advice, capital, introductions, staff?