Many profit and non-profit organizations are organizing startup competitions or want to select startups at the beginning of a startup accelerator program for instance. However, often promising startups are not selected and others that do not really stand a chance are selected and allowed to join the program. Here are a number of practical tips from Tony de Bree.
I have been in corporate venturing and venturing since 1997 (LinkedIn) and I have been a member in many different startup and scaleups juries inside and outside Fintech including in programs for Municipalities and Ministries in The Netherlands. What strikes me is that:
1) Often it is not clear what the exact selection criteria are or
2) Too much emphasis is placed on ‘the Big Idea’, on ‘the presentation’, on pitching and on funding
instead of on the criteria that really count for making a calculated guess on the most important question:
‘Can this venture be successful or not’
Things that professionals want to know are:
1) The profile of the founder.
2) The composition of the foundersteam.
3) The paying targetgroup.
4) The Unique Value Proposition.
5) The revenues model.
6) The businessmodel.
7) The marketing strategy.
8) What do they want/need?
There are a few more criteria that different types of investors use. You can find them all in paragraph 7.7. in chapter 7 of ‘Kan het vliegen?’
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Tony de Bree
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