We held a successful CrowdPitch last night where 5 new companies pitched their idea to an audience and a panel of investors. We had some interesting companies pitch and some great advice from the panel. Here’s a rundown of how it went:
Milliwik stole the show with its innovative and fun water toys and games. Feedback from the expert panel, like “You might not want to give away so much of your company for so little” is a real endorsement that your venture has merit.
David Williams, Milliwick’s founder, was asking for $150,000 for 30% of his company. It’s unlikely that offer is still up for grabs. Perhaps investors should bring their checkbooks to the next CrowdPitch. It appears there are bargains to be had.
Richard Nelson, President and CEO of the Utah Technology Council, counseled David to find a mentor to help him navigate the oftentimes tricky waters of launching a business. “You only have one opportunity to give away pieces of your company. Make sure you’ve done your homework.”
Mark Viau with Load Tamer gave a terrific demonstration on his inserts for school backpacks. However, the panel suggested he work on integrating a slide deck with his presentation. however.
BillTraq and Sentinel
According to the live Twitter feed at #crowdpitch, John Bell with BillTraq Systems (Pay 41), needs to update his logo and clarify his business strategy. The panel and audience alike agreed that Sentinel Group had a worthwhile idea, which generates a grassroots support for political campaigns. However, John’s presentation showed a strong personal political views. The panelists agreed that business owner’s personal political views be left out of one’s pitch.
TaleSpring impressed the crowd with its animated book publishing software — allowing anyone to become an author and publisher. Grandkids can create books to sell to their grandparents on iTunes; and anyone else for that matter. Unfortunately, the highlight of the pitch — an animation showing how the technology works — did not function properly. A reminder to all future presenters to test your slide deck beforehand if you have any embedded video, animation, or audio.
Congratulations to Milliwik in their second back-to-back win. (They tied for first at our recent SpeedPitch) We would also like to thank Entrepreneur Launch Pad and SCORE for being excellent partners on this event. To attend or pitch at a future CrowdPitch, bookmark this page or follow @crowdpitch or @lendio on Twitter to stay abreast of upcoming events. There are several upcoming events through June, including a CrowdPitch in northern Utah and Chicago. For more information on those, go here.