Kapost

Pitching at OAF

Posted on 04. Feb, 2010 by Mike Lewis in Company Updates

We pitched last night the OAF.   What was it like?  Here are some thoughts:

One part of the the pre-pitch environment stood out: this was a small group.  One great part of the OAF is that the crowd consists of investors only.  There were 17 investors and the qualification was the each one had to have made 4 investments in the past year.  These are people who are looking to invest and not just network or be part of a scene.  They in-turn are rewarded by seeing quality, pre-screened startups.  Over 100 companies applied to OAF in Boulder and 6 were selected.

The pitch itself was short but sweet.  The format calls for a 7 minutes pitch followed by 7 minutes of Q&A.  One interesting part of the process is that the six startups all stay in one room separate from the dinner and investors and we’re taken out one by one to pitch and then retreat back to the room once we’re done.  We joked that it was similar to the “Green Room” in American Idol where we each nervously waited for our chance to show what we got. I actually enjoyed this time in the Green Room as it gave me an opportunity to meet some of the companies and entrepreneurs who were all great people with interesting companies.

After the pitch it was time to mingle and get feedback from the angels. Different angels had different takes on how our presentation went but overall I think we did a good job and were able to get our message and value proposition across.

Overall, the OAF is a fantastic event. Hands down it is the best fundraising event I’ve ever been to.  I feel fortunate to have been selected and thankful for its existence.  This is the kind of event that enables startups to happen.