So recently i have been getting a lot of invites to pitch to investor events. I would go in a heartbeat but, many of them have some really big application fees $500-$1400, all promising prominent people e.g.
Has anyone had first-hand experience with this? Are they worthwhile? Personally, it sounds like BS, but we are starting the process of seeking investors for the first time, so I like to keep an open mind.
Advice?
Never pay to pitch. This is an entrepreneurship IQ test. Understand everyone's roles in this. As the founder you bring the ideas and the effort, as the investors they bring the money. If they ask a founder to bring money then they misunderstand the whole entrepreneurship-investor relationship. If money is needed to host the event, they should get it from the investors. If ideas are needed, they should get it from you.
+1
passion ?
If you won't invest in yourself, why would I? There are plenty free ones worth your time and plenty paid ones not worth your time. Check their company track record.
No. A lot of angel groups will do this to, asking you to pay to apply to pitch. NEVER PAY TO PITCH or APPLY. You can always get the fee waived. I know I've gotten fees waived.
+1
Its an insidious practice here in London too and tbh I've not seen a gap in quality of investors/mentors between pay-to-pitch and free-for-all events.
If you're starting to pitch for the first time and have money, spend it on a good pitch clinic.
Tell ya what, drop me $150 and I'll let ya know whether or not it makes sense...
;p
I can tell you if you should take that $150 offer or not for $75.
Run. Fast
How about this. I THINK its a bad idea, but go figure it out yourself. Ask for a list of companies who have paid to pitch in the past, then google them. Then reach out to them via LinkedIn or just look at their Angel List profile and see if they got the funding they were looking for or if they got traction.
I paid to pitch at an Angel event in Austin for $250 last month, found it to be a good use of time and opened us up to a network that we would not have easy access to otherwise.
If you can reach 100 potential investors at once, that's a better use of your time/money than finding 100 potentials and taking them all out for coffee.
We weren't looking for feedback on whether the idea was good or not - people who offered that up were a waste of our time because we have revenue and traction - but it was, for the most part, great practice and we are in the middle of negotiating offers with some of those angels right now.
I was underwhelmed during most of the process, but it seems to be accomplishing what it was intended to do.
Like taking candy from a baby.
OP don't be this guy.
Lol yes, its worth it especially if you're a nobody. Don't go with a mindset to get funded or even pitch. Go with a mindset to meet people.
Are there any sites that:
1. compare pay-to-pitch event sponsors?
compile a calander (or collection) of events?