In 2023, world investments are grappling with a considerable 15% downturn, as reported by Crunchbase, making a difficult backdrop for early-stage startups. The uphill battle is of course much more extreme for deep tech startups creating novel, revolutionary options for upcoming markets.
Logically, their endeavors demand important funding, and the accompanying danger additional complicates the funding equation. In line with Dealroom, funding of such corporations from Europe noticed a notable enhance in 2021, probably spurred by a sudden surge in curiosity in AI. Nevertheless, they subsequently skilled a big decline in 2022, and this downward pattern continues into 2023.
My worldwide deep tech not too long ago secured a $40 million seed spherical from numerous negotiations with enterprise funds, enterprise angels, and numerous funding entities. 4 methods performed a pivotal position in securing this funding for our enterprise.
Inform a narrative
One of many important elements in attracting potential traders is a well known set of paperwork ready for displays. Amongst them, the pitch deck takes heart stage, serving as the first device to articulate the essence of your thought and supply a glimpse into market dynamics.
Crafting a concise and compelling pitch deck is an important however well-known process, and loads of sources are able to encourage. However in lots of circumstances, the complexity of your product could also be partially conveyed by means of it alone.
Until you’re Elon Musk, proving that you just alone can create one thing technically refined could be an uphill battle.
After repeatedly going through the identical questions on our product, we launched a further narrative format known as a “product book.” Whereas a pitch deck is a concise doc, a product e-book dives deeper into the intricacies of your product, providing a extra elaborate rationalization. The questions you can be requested will probably be totally different from ours, however the details of structuring this immersive information nonetheless apply:
- Drawback assertion: Clearly articulate the issue and why your revolutionary product is required.
- Doable resolution: Draw an image of how the answer could look with out delving into technical particulars.
- Why now: Clarify why it was inconceivable to succeed in the identical objective earlier than and what has modified to make it occur at this explicit second.
- Rivals: Spotlight why current options out there fall quick, emphasizing the distinctive worth proposition of your product.
- Ecosystem: Exhibit foresight by outlining the ecosystem essential to your product’s performance. For instance, if envisioning a pc of tomorrow, deal with the requisite working system and suitable purposes.
- Use circumstances: Discover the varied spheres the place your product could be utilized.
- Visuals: Current every software sequentially and vividly, using all of the purposes.
- Parts: Clarify how the answer is possible by addressing the important thing elements that make all of it potential.
