I previously founded one of the largest web hosting providers, attracting $60M in investment, and now have PixelFish cash flow positive with over a half million in revenue.

Winners: 2006 Tech Coast Angels Fast Pitch Competition

Best Presentation 150 words, 60 seconds

By Gene Alexander, CEO of MaMoCa, Inc.

Do I look like King Kong to you?

If you saw me with our 3D camera technology and animation engine software I’d look a whole lot scarier and a little bit hairier. We are MaMoCa, Markerless Motion Capture.

We directly produce 3D content for video game and movie applications. Our value proposition is a factor of ten decrease in production costs, in a process covered by four provisional patent filings. By the way I’m not King Kong, I’m Gene Alexander, CEO of MaMoCa.

I have fifteen years of experience in human motion capture, most recently as Stanford faculty. I’ve also previously founded a venture funded, successfully acquired tech startup.

A 3rd party research group has this 3D content production tool market at 2.5 billion dollars a year, growing at 18% annually. MaMoCa is 1/5 of the way through our seed round funding of 1.5 million dollars. I’m Gene Alexander, MaMoCa.

 Comments

Gene got everyone's attention by opening with a load roar and then his "gorilla" one-liner. Anyone nodding off in the audience was quickly woken up and ready to hear what he said next. They were prepped. Noe of the most effective openings we've heard.

He quickly transitioned to a description of what MaMoCa does, and more importantly the value proposition of a 90% reduction in costs.

He moved on to succeinctly describing the relevance of his background. And then closed with an estimate of the large size of the market being addressed and how much funding he was seeking.

Overall, Gene covered the important points without being rushed, and hence was able to add drama while still conveying the content in a very memorable fashion.

Best Investment Opportunity 131 words, 60 seconds

By David Saad, CEO of Clupedia

Word of mouth – the wholly grail of marketing but very difficult to achieve. And here comes Buzz – the ultimate referral system on the web. Think of Buzz as “tell-a-friend” with extensive analytics so that marketers no longer have to “leave it to Beaver” but instead can launch viral marketing campaigns using Social Network Analysis. Now that’s unique and defensible.

Buzz was nominated for the innovative product of the year award by the American Electronic Association. We got our first customer with an order of $85,000. And finally, the exit could be spectacular for one reason – the network effect.

I’m David Saad. I have invested $2 million, 25 years of experience, PhD in computer science, twice on the Olympic team, and came to you tonight through – referrals – a trusted source. Thank you

 Comments

In David's opening sentence, he sets up anticipation of a big solution by referring to the Holy Grail of marketing. he then ties into social networking - a hot investment space. He then conveys external validation by referring to an AERA award and an initial customer order. Finally, he sells himself which is critical to any investor. Investors want CEOs with skin in the game, and this one's invested $2M of his own cash -- that's commitment. The Olympic reference is memorable, and conveys dedication and perseverance -- also important to investors. And he wrapped his pitch up withsome humor about being referred to TCA -- re-emphasizing the importance of trusted referrals. got everyone's attention by opening with a load roar and then his "gorilla" one-liner. Anyone nodding off in the audience was quickly woken up and ready to hear what he said next. They were prepped. Noe of the most effective openings we've heard.

He quickly transitioned to a description of what MaMoCa does, and more importantly the value proposition of a 90% reduction in costs.

He moved on to succeinctly describing the relevance of his background. And then closed with an estimate of the large size of the market being addressed and how much funding he was seeking.

Overall, Gene covered the important points without being rushed, and hence was able to add drama while still conveying the content in a very memorable fashion.

Winner: 2005 Tech Coast Angels Fast Pitch Competition

By Gerrie Adams, CEO of Xengaru Fun Foods
Competition Grand Prize: Best Overall 162 words, 60 seconds

I have good news and bad news.

The bad news is the New England Journal of Medicine reports that for the first time in US history, this current generation of children will have a shorter lifespan than their parents.

Unhealthy snacks have fueled an epidemic of childhood obesity and have prompted state governments to ban junk foods in the schools.

I am Gerrie Adams, President of Xengaru Fun Foods, and the good news is we've invented Pizzettos – a pizza-based snack chip that children love because they taste deliciously unhealthy, and that school officials delight in knowing it's perfectly healthy.

In our first month of sales we were scrambling to meet orders for local school districts and we have statewide orders for the fall.

Xengaru’s management team has strong experience in food science and business and is looking for $250,000 from investors who want to share in Xengaru’s visions of "making fun foods healthy and healthy foods fun." Are you one of those?

> Video

 Comments

She starts off with audience "grabber" -- our kids are expected to have shorter lifespans. That certainly sets the table, and then she narrows in on the problem (unhealthy snacks in schools). With very few words, everyone already completely understands the problem her venture is addressing.

Equally crisply, she posits the solution -- a "snack chip that children love because they taste deliciously unhealthy". Note the clever turn of phrase -- "taste deliciously unhealthy" -- that makes people immediate grasp that kids might actually try and like these chips.

Moves to results -- "scrambling to fill orders". They don’t yet have sufficient revenues to talk about, but she positions what they do have very compellingly.

Talks about team experience in general terms, but with what has already been said, enough to whet an investor’s interest.

Closes strong, with good vision statement, and asks for the order -- "are you one of those?" Combined with passionate and crisp delivery, this pitch clearly stood out and got the highest marks and best audience response.

Winner: 2004 Tech Coast Angels Fast Pitch Competition

By Alan Cash, President of Terra-Kleen
Competition Grand Prize: Best Overall 141 words, 60 seconds

I'm Alan Cash, President of Terra-Kleen. We clean dirt. A lot of dirt. Terra-Kleen holds the only US EPA permit for non-thermal treatment of PCB contaminated soil. We also treat dioxins, chlorinated pesticides with our patented technology, solvent extraction. In our 11 years we have grown rapidly winning awards from INC 500, Environmental Business Journal, ZwiegWhite, Technology Fast 50, Entrepreneur of the Year Award and the White House.

In the US, our process competes with landfill. In the rest of the world, nobody landfills PCBs-- they destroy them at 10 to 100 times the cost. Our costs are dirt cheap compared to what other countries are currently paying.

We have licensed our technology to Mitsubishi Heavy Industry who has finished the first two PCB & Dioxin cleanups in Japan. We now have some killer opportunities in Australia and we need capital.

Comments

We clean dirt. A brilliant way to start for a business that is challenging to describe. This is an introduction that grabs. Many presenters might have started with "non-thermal treatment of PCB contaminated soil" and left the audience cold, with jargon and a ho-hum business. This elegant three-word sentence both explains in layperson terms and grabs the audience; Lots of dirt adds rhetorical elegance. Yet he doesn't talk down to the audience, as he fully explained what they do and the value proposition to their customers.

He brings in several key plusses very concisely – patented technology; rapid growth; and numerous awards from credible entities. Nicely positions against the competition and quantifies how they are better; and continues the "dirt" theme with the "dirt-cheap" comment. He establishes that they have solid customers (Mitsubishi license and two projects); and identifies a need for capital that investors love – use of funds for expanding sales.

Starting with his name is a minor flaw, though hardly fatal. Until you have grabbed the audience's attention they will mostly ignore your name and/or company name; audience will want to get your name and company AFTER you have excited them; and only IF you excite them.

His pitch is strong enough that even though he omits some specifics (e.g., their rate of growth over 11 years, their current revenue rate, amount of capital sought) most prospective investors would be interested in finding out more – and that is goal of a fast pitch, to get investors interested so they take next step with you.

Winner: 2003 Tech Coast Angels Fast Pitch Competition

By Phil Hilmes. CEO of Audyssey Laboratories
Competition Grand Prize: Best Overall 159 words, 60 seconds

Hi, my name is Phil Hilmes. I'm founder and CEO of Audyssey Laboratories.

We have developed a patent-pending technology, MultEQ, that creates the same difference HDTV has over standard TV but for audio. MultEQ automatically corrects acoustics, dramatically increasing the emotional impact of the audio. It is the first software of its kind to market.

With a market size of over 100 million units per year, Audyssey expects to capture at least 27% of the market in five years yielding over 33 million dollars in revenue.

Texas Instruments has exclusively partnered with Audyssey to sell MultEQ software on its DSP chips to prospects such as Sony for home theater and car audio receivers.

With already more than 1 million dollars raised for MultEQ's development from US government grants, Audyssey is looking to raise another 1.5 million dollars to commercialize and sell the product.

Our team includes the world-renowned creator of THX, Tom Holman, and other talented engineers and managers.

Comments

This pitch received tremendous applause, especially after the judges held up their score cards. While introducing himself and his company first didn't hurt, it would be better at or near the end after people are fully interested and more receptive to retaining the information.

In the second paragraph, notice the great use of analogy (to HDTV) that provides a wonderful positioning for their product (e,g,. potential market impact and importance); which is then followed by layperson explanation ("acoustics" and "emotional impact" – not '15 dBs better' or 'spectral fidelity range'). The audience connects and is more ready to accept the unsupported claim that their software is "first of its kind."

The market numbers are specific, which is about as good as you can do when you have yet to have any measurable market share.

Very explicit tie-in to Texas Instruments, and not just some vague 'strategic relationship' but an exclusive partnership to incorporate Audyssey software in TI's DSP chips; with further tie-in to how Sony is expected to use the embedded product.

Uses million-dollar grants as credibility builder and follows with the capital sought – concise and strong.

Having a world-class expert on the team is either a wonderful close, as here – if you have kept the audience interested (and he had) – or could have been equally strong as a lead statement.

Winner: 2002 Tech Coast Angels Fast Pitch Competition

By Mark Logomasini, VP Business Development & Co-Owner, Molecular Medicine BioServices, Inc.
Competition Grand Prize: Best Overall 136 words, 50 seconds

Molecular Medicine BioServices makes viruses for companies working on vaccines, gene and cell therapies. Our clients account for more than one-third of all drugs, approved or in clinical trials.

Molecular Medicine is one of the leading providers of contract manufacturing and development services for these life saving therapies.

My name is Mark Logomasini. I built and sold one of the largest biosupply companies in the Western U.S. Last Fall I helped take this company private from Hoffman La Roche and the University of California. We completed a Series A round for working capital. We're now trying to raise $7.5MM for a facility expansion.

We have contracts in place from NIH, the Department of Defense, Biopharm companies, and Universities. We've booked $4MM so far this year and we will be profitable by the end of this quarter.

> Video

Comments

The audience spontaneously broke into applause following Mark's passionate but calm delivery, together with an extensively coached and practiced pitch.

It is tempting to reverse the order of the first two sentences. Hearing that their "clients account for more than one-third of all drugs, approved or in clinical trials" certainly grabs attention.

The second paragraph is straightforward and expands on what they do.

The third paragraph wakes you up again – he has been successful before; which is key hallmark for investors (i.e., domain expertise and proven operating track record). He establishes credibility both with Hoffman La Roche as the source of their technology and having already received Series A funding. If the Series A was modest (less than $1 million) then better to leave the amount unstated; if it had been $2M or more, he would have wanted to indicate the amount.

The last sentence of the paragraph is mixed: "trying" is weak – should say "we are raising $7.5M" (no question about it). That the capital needed is for expansion is a plus, since it implies they have contracts, if not revenues.

The closing paragraph is very strong: identifies two specific big-name customers (NIH and DoD), and two market segments (biopharm and universities). The final sentence is a great close: very significant bookings ($4M in only 4 months – the competition was in early May) and even better is that they will be profitable shortly.

Mark delivered his 136-word pitch in 50 seconds because he practiced extensively.

Winner: 2001 Tech Coast Angels Fast Pitch Competition

By Jack Syage, founder/CEO of Syagen Technology
Competition Grand Prize: Best Overall 142 words, 50 seconds

My name is Jack Syage and I am the founder and CEO of Syagen Technology.

Syagen has developed under an FAA contract the fastest and most sensitive bomb detector for airport security. However, our best commercial opportunity involves applying this high-speed analysis technology to red hot markets in pharmaceuticals and proteomics.

Our detection system is 10 times faster than the competition and won a major industry award. We have also signed a deal with Agilent to provide one of our core technologies for their top selling instrument and are in negotiations with two other industrial leaders for a similar agreement.

We have raised over $5M from investments and government funding to develop the technology and are now seeking capital to ramp up commercial development.

Syagen is a profitable 4-year old company with strong patents and a first rate management and technical team.

Comments

The audience gave Jack a standing ovation, the only time in the 30 fast pitches in the competition – Jack's passion and high energy, together with a super polished delivery, won the day.

It might be best to move his personal introduction to the second paragraph, after he has already caught the audience's attention – most often, investors don't pay attention to the name when given first and before we are interested; then when our interest has been triggered, we struggle to remember the name of the company and presenter.

Jack's opening sentence tells you: (1) Syagen has a contract with FAA (impressive); (2) they have developed the "fastest and most sensitive" instrument (exception where "fastest" is better than giving a number); and hot market niche "airport security." Makes a very effective reversal, putting lesser opportunity, but hot one, first (if you think this is hot, let me tell you about our other technology). Note how much better this is than reversing and saying "our technology applies to red hot markets in pharmaceuticals and proteomics, and also to airport security".

He quantifies their advantage as "10 times faster" and reinforces the advantage with mention of winning "major industry award." Note that he omits the specifics of the award (i.e., what industry, what entity, what award), since his audience would not likely recognize the specifics.

He identifies "Agilent" as a "signed deal," and mentions "two other industrial leaders" (to which prior mention of Agilent gives credibility), without having to name them.

He does not identify how much he is seeking to raise nor at what valuation. In many cases this is a mistake, as the prospective investor needs some parameters to begin to engage. For example, if I tell you eBay has a 1959 Porsche 356 for sale, you might get very interested if I tell you the price is $4,000 or have no interest at all if I tell you its $450,000; if no price is mentioned, you usually infer that the price is high or they would have mentioned it. The same is often true for funding; if the valuation is not mentioned, the prospective investor usually assumes it is too high. However, Jack does provide some basis to estimate funding need and valuation; i,e., that they have already taken in "$5 million from investments and government funding". Note that he doesn't distinguish between the two (e.g., $2M from investments and $3M from government funding); the combined number looks bigger and takes fewer words (prospective investors can later ask for the details).

Finally, he closes with his strongest statement: they are profitable, have strong patent position, and great team; while he is vague about patents and team, Jack has already provided enough compelling specifics to make the vague statement credible. He could have led with this statement; however, he marshaled such a compelling set of facts that it fits well as the close.

By the way, Jack delivered the 142-word pitch in just 50 seconds. That is exceptional; most people would need 60 or 75 seconds to deliver that length of pitch effectively.

Get coaching and practice, practice, practice

We cannot emphasize enough the importance of getting coaching and practicing your delivery. Winners typically receive professional coaching and all winners had practiced extensively – Tech Coast Angels hold free mandatory coaching sessions for entrants in the competition. Progress made during coaching does not influence the selection of winners, as the coaches do not also serve as judges in the competition.

The pitch that 2002-winner Mark Logomasini gave at his first coaching session failed to mention their $4M bookings, their contracts with DoD and NIH, and the Hoffman La Roche connection – all key points that made his pitch compelling. Moreover, his description of their technology was convoluted and incomprehensible to someone not expert in that field. Mark sent this email after the coaching session: This evening was one of the most valuable experiences I've had since we bought Molecular Medicine eight months ago. Thank you very much for your help.

The TCA member who headed our coaching said that the 2003 winner would not have made it to the final 15 with his starting pitch.

Closing thoughts

Not all ventures pitch when they have revenues or contracts, are profitable or expect to be profitable shortly, as was the case in the 2001 and 2002 winning pitches. The inference is that the 2003 winner did not have revenues. The point is to bring out your venture's key strengths and explain what you do in a compelling way that leads the prospective investor to want to hear more. In crafting an effective pitch identify your venture's key points and organize them into an effective story, edit to eliminate fluff and make each word serve a purpose, and then practice your delivery.

Some portions of this page are Copyright 2005 Luis Villalobos.