A week ago I joined with some of classmates at the STHML Tech Meet Up event. The event was totally crowded and air ventilation was not that good. The event was divided to two pieces, the first part was a overview of this month’s biggest investments in Stockholm start-ups. Some of those start-ups came to the stage to tell about their business and chatting with presenters. For me that part was quite boring because generally the presenters just chatted at the stage without any goal.
At the second part some investors came on to the stage and told something about themselves. After that started real pitching where some start-ups tried to convince the investors about their ideas or business opportunities. The first pitcher’s idea was to solve a refugee problems with a mobile application where they can communicate, get some activities and information. I personally liked the idea but I am a bit worried about how they can get enough income because that segment’s purchasing power is really low. After that, there was some other pitches which I can’t remember clearly because I didn’t find them enough interesting for me.
But I can clearly remember Gymgo’s pitch which didn’t go that well. Gymgo’s idea was to create universal gym membership which means that you can use any gym anywhere you want. After one minute presentation one of the investors said “PASS!” that was like a punch in the pither’s face. The investors commented the idea like usually people don’t want to use all gyms because they just pick the closest one. At the end of Gymgo presentation the pitcher presented that Gymgo covers other activities like hiking, skiing, climbing etc. So the investors started asking “Why the name is GymGO when it is not for gyms only?!”. That was a good point. I think the main idea of GymGo is good but I assume that the prize for customers will be really high, it will be really hard to get all gyms and other activity providers into it and also people really rarely need worldwide gym or activity membership. If you have money for travelling around the world you have money for a random gym visit in a random place, and maybe it is also cheaper.
After GymGo it was Zeifie pitcher’s turn. Zeifie is a security app or device which you can use when someone following you and you are afraid to be robbed or raped. I liked idea and also investors generally liked it. One of the last pitches was a random guy from the audience who wanted to tell his idea. The idea was that everyone can be an advertiser so you can post advertisements to your facebook, twitter, linkedIn or other social networks. So he explained his idea like that “if you have 300 friends and you post one advertisement to your facebook, you can get like 2-3 euros from advertisers if you can reach those peoples.” The investors and my opinion is that the idea might work once but when some of my friends start to spamming my facebook with advertisements, I will block or remove him/her. And that idea will probably lead for whole facebook or twitter being just full of advertisements because all just keeps spamming them so idea can’t work like that. I also think that advertisers outcome will be bigger than income. The guy who presented the idea was totally convinced about his idea and he couldn’t understand why people didn’t like his idea.