20/10/2021
❌ "Can’t tell you this due to the NDA."
❌ "Our market is $100500 billion and everyone on this planet."
❌ "Our startup has no competitors."
❌ "We have other jobs, and we work on our project in our own free time."
These are the startup makers’ phrases during the pitch, that instantly kill all the interest of any investor.
Oleksander Davydenko, the Chief Innovations Officer of our holding and the Managing Director VRTX Venture Lab, revealed these phrases to the young startup teams. During the ReBootcamp intensive, he explained what the investor actually hears in these phrases and how it will help change the project for the better.
And here are the phrases that, according to Oleksander and our venture studio experience, draws investors’ attention:
✅ "We worked for 5-10 years in the field of X in the managing positions, but the corporation did not allow us to create and use our product internally."
✅ "We already have 5-10 customers from a wide niche who pay."
✅ "We were creating another product, but the money started coming from a new direction, and we need resources to scale."
Most likely, such a team has industry competencies and understands what product can meet customer needs. Or the team already has such a product and financial support is needed for its growth.
We are grateful to ReBootcamp for the invitation. We are glad to share our experience with the teams that will soon join the list of Ukrainian startups.