There were some consistent messages to the participants in Startupbootcamp Pitch Day at The Orbit in Copenhagen. Seven startups were selected to attend and pitch their ideas to a group of investors and mentors with 30 minutes devoted to each, Trendsonline reported on the event.
Investors were frank, but also showed genuine interest in the presenting companies. A common message was around optimising storytelling, and getting the point of the product across. Part of the event also, explained Morten Krarup Kristensen from Startupbootcamp is that the startups get see each other pitch, and think about how they should presente themselves.
Some other recommendations were to scrap the price of the app, find a real problem to solve, focusing on one task at a time, and to get substantial data from users to support the quality of the product. The criticism was more than what some participants wanted to hear, becoming defensive, a reaction which the investors had some words about in the summary for the day.
‘You will never have to be defensive,” said Niels Vejrup Carlsen from SEED Capital.
‘You must remember that 95 percent of investors are actually interested in helping you,” added Rasmussen Bjerngaard from NorthCap Partners.
One of the startups that got plenty of input from investors was Gemyt. They’ve been working on an app to address parking challenges in Copenhagen. They have some way to go before it’s a product to show to potential investors, however, co-founder Anders Buus was pleased with positive comments from the investors for his ability to describe the idea.
‘Firstly, it’s just great to be selected, even though we might not be quite so far in our plans as many of the others who were with today, … And then this is the first time we are out and present the project after sitting in a basement since October so to find that we were not blown away or laughed at… is really encouraging.’ said Anders Buus, co-founder of Gemyt
The next deadline for MobilityXL Copenhagen Startup Bootcamp is June 30.
