Pitch Event FAQs

@Aging2RVA

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Pitch Event FAQs

Q: Who should pitch?
A: Any person or group who is …

Looking for publicity and recognition for a groundbreaking concept. Your pitch can be for a product or service at any stage in development. It can be a great idea, an already operating business, or anything in between. As long as it falls under the category of innovation in aging, we want to learn more!
Interested in receiving active coaching/mentoring. Aging2.0 Richmond works with Richmond SCORE’s experienced business mentors, who provide a wide range of marketing, technical, operational and financial counseling that has helped thousands of businesses of all sizes achieve their objectives. You will also be in front of a vast network of providers and community partners via the Greater Richmond Age Wave Collaborative.
Interested in receiving funding. Local investors and aging industry consumers attend our events. Plus, you will be connected with the global Aging2.0 network of investors. Not to mention our cash prizes for some instant gratification!

Q: How do I pitch?
A: Explain what your product is and why it is better than similar products currently available, or how it fills a void in the market. Be concise and clear. Use a PowerPoint presentation to supplement your pitch, and a product demonstration if applicable. Your pitch should be lively and engaging and make the “catcher”/s want the product.

Q: Do you have tips on how to give a good pitch?
A: Rehearse your pitch before the event. You only get a few minutes to speak, so make the most of it. The more you rehearse the better you’ll be. Have a pitch that people can understand. If the audience can’t immediately grasp what you do, they’re probably not going to vote for you. Demonstrate enthusiasm.

Consider these elements:

Need – Why should consumers want this product? Does the product/service address a significant unmet or under-met need? Is it unique?
Marketing – How easy is it to get the product?
Usage – Why is the product easy to use?
Value – Why does the value and cost of the product makes it a “must have”? What is the value proposition? Would someone use it and/or refer it to family and friends?
Functionality – Is the company’s product easy to use, and does it get the job done?
Potential – What is the company’s business model and likely profitability, size of the market, likelihood of adoption, and growth potential?
Team / People – What experience does the team have, and can they make the product or service a success?
Creativity / Differentiation – Why would someone use this product and/or service over alternatives?
Scalability – Is this small business not capable of scaling or is it a large business that has a lot of growth potential?

Some words of wisdom:
“Surprise – I don’t think there is a ton to know about actually pitching. If you’ve prepared well, have a good idea that you truly believe in, and manage not to get too nervous, most of the work is in the hand of whoever is listening to you. Be calm, be direct, state your case, and then listen. Like any kind of public speaking type situation, the more often you do it, the more comfortable it will become. But there isn’t much magic to the actual pitch. The only people that need to resort to tricks and manipulations are those that haven’t worked to understand their audience well, or don’t truly believe in what they are pitching.”