Tech start-up networks Pollenizer and Innovation Bay have rolled out a new open-source platform that allows start-ups to pitch their concepts to a wide range of investors.
Pitch2us, developed in-house by business incubator Pollenizer, allows entrepreneurs and business angels to register and view others’ details.
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Start-ups are able to provide details on their concept and upload videos that pitch their ideas to investors.
Phil Morle, co-founder of Pollenizer and head of the Pitch2us project, says that Pollenizer and Innovation Bay, which holds regular “pitching dinners”, were looking for a better platform for start-ups to showcase themselves.
“We had a WordPress site but we needed a better way to respect entrepreneurs’ privacy and allow angels to look across all start-ups to assess them,” he says.
“Creating video is a pain in the arse. There’s a lot of effort that goes into creating different videos for each investor. Ultimately, we’d like to network this platform so that you just have to upload one video pitch.”
Morle says that several incubators and angel networks were interested in the open-source solution, adding that he’d be “really chuffed” if 10 different organisations adopted the platform by the end of the year.
He adds that pitching via video is on the rise among start-ups, giving them access to a wider range of potential investors than ever before.
“It’s an old but true cliché that it’s all about the founder,” he says. “Investors want to know that the founder understands the business.”
“To partially meet the founder through a video is valuable for investors. Every investor can’t meet every start-up, so video is a much more scalable model.”
“Investors are getting a more sophisticated understanding of the start-ups out there and for the start-ups, video pitching is a great way to know what investors are looking for. Angels hunt in packs, after all.”