Startup meet Angels (Seattle) – Process and Rubric
How do we evaluate teams for Seattle’s Startups meet Angels meetup (aka Angels, Pitches and Beer)?
Bring your pitch deck and plan on a 5 minute pitch with 5-10 minutes of Q&A from the Angels. Your pitch will not be public, but in a conference room with qualified investors only.
- 6+ Teams are selected based on “first come first served” application. Show up at 6:00PM to The Riveter, not recognition of lines before 5:30 from us. If you want to set up a queue, that’s up to you and the folks that arrive at 5:30. Please keep in mind, the team at Create33 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 #takefirst
- 6 Teams will be selected by the Pitch Prep committee. Starting at 6:30PM, founders not selected in the short list can still get some pitch prep and feedback. They will score your pitch compared to other teams and will pull the top 6 for the finals of the night. I’m a big fan of the “no assholes” rule – happy to invoke it if necessary
- Pitches start at 7PM
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.
- The evaluator hates (strongly dislikes) your idea – hate is such a strong word… so think of it as a “1”
- 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.
- We like it! That’s not a 4, we don’t love it, but it’s a good place to start!
- We Love it!
Event Name: ABP 2/28/2018
Domain Experts Diversity Serially successful Founders From great companies, Functionally competent (hacker, hustler, designer/marketer)
Solve a real need? Idea Early/Late continuum Technically Achievable
|Product – Pre product or launched
Customer first focus Clear Value Prop Design/Ease of use Clear launch and scale offering
How big is the market – TAM/SOM Unmet customer need How many incumbents Nascent Go-to-market system.
Barriers to Entry Differentiation Well funded competitors in Crunchbase
High transactional value Clear Profit Model Capital Efficient. Scalable. Can this be articulated well to an investor?
Customer adoption Customer Engagement Early Revenue Know the Unit Economics. Product Market Fit. Large customers? Early investment. Strategic Partners. Awards. Press. Recognition.
Emerging innovation “Meta” factors are favorable Established demand. Late to market is bad…. too early is bad
IP Required IP in process. Is there a moat based on technology? Compliance?