WPI Venture Forum

Out of all the companies that attended the venture forum, there were several that grabbed my attention immediately.  The first company was the first presentation for the 5 minute pitch contest.  The company, Freight Farms, gave one of the better prepared presentations at the venture forum.  The company converts large freight containers into movable farms for anywhere in the world.  They claim that these freights are not affected by adverse weather and can grow a variety of crops (so far, mostly herbs).  The presentation; however, did not do justice to the business model of the company.  The presentation was geared more toward the consumer, rather than the investor, lacking the necessary information about the future of the company.  Despite these downfalls, the presentation was well organized and well delivered.

The second company that caught my attention was the company responsible for the development of the unmanned helicopter. The UAV (unmanned arial vehicle) is unique in that they vehicle does not have a rear propellor, making the vehicle more transportable and maneuverable.  The concept is unique and plausible; however the presentation was not well delivered.  The CEO of the company gave the pitch, but he seemed unable to answer all of the questions about the product.  It may have been a better plan to have someone who was more involved in the project and able to answer the more technical questions.

Finally, the winner of the pitch competition, the designer of the Amico bracelet, was another product idea that was very interesting.  The product is a bracelet that allows users to find other relevant people wirelessly when they are around other users.  While the idea a interesting, it does not seem like a plausible of marketable idea.  While the product could become a common product which would revolutionize social media connection, the first customer is not clear, and the product would need a large following that would be hard to obtain in order for the bracelet to be a profitable product.

-------------------------------------------------------------------------------------------------------------

• Gear your presentation to the audience.
• In the case of freight farms, the presenter explained how the system works and what their company is capable of, without sufficiently addressing the companies future and they model of how they will accomplish their goals.
• Have the more involved partners deliver a pitch
• While it may look good for the CEO or other company head figure to deliver a presentation, it makes more sense for the most involved partner to deliver the pitch and answer the pertinent questions.
• Deliver a pitch slowly and concisely
• The presenter for Freight Farms did a great job transitioning through the slides and delivering a concise presentation by allowing the audience to digest the information presented
• Always remember to stay flexible
• The Freight Farms presenter ran into a small technical problem when his video sound did not work, instead of stopping to fix the problem, with the limited time, he was able to improvise and save the presentation.
• Communicating the business model to the investor is key
• The investor wants to know how their money will be spent and when they will see a return on their investment, always have that information ready or the investor will not be interested.
• Events such as the WPI venture forum, despite the size and small cash incentive, are still a great way to network and get your company name out to potential customers and investors
• I had considered the event not important based on the size and small cash prize, but these events are some of the best ways to meet potential investors and customers that would help your business grow.