On May 17th I went to the monthly Stockholm Tech Meetup #STHLMTECH. Once again, it is an inspiring session to listen to the advice from the investors and watch two startups pitch on stage.
The host asked the investors some interesting questions: like what is the criteria when comes to invest a startup, and what is your favorite / least favorite word in a pitch?
“Great people”, answered by one of the investor to the question of invest criteria. I am surprised he didn’t say “Great product” but put a focus on the team. “Global” is one of the favorite words they like in a pitch which indicates that your venture has the ambition and preparation for future international expansion. And among the least favorite pitching words, I am most impressed with the word “Development”. Why? The investor explained that many startups mention their products or services are under development before launching, but he thinks they don’t need to wait until they have perfect products or services. To my understanding, even if your application is not 100% implemented, you can still use it to reach out to your users and collect the reactions, comments and suggestions, and better improve your products and services based on the feedback.
It’s a very good chance to meet the ecosystem of startups and entrepreneurs in Stockholm, which also gives me some lessons on the wording during the investment pitch.
By Zhihao Yang