A winning investor pitch takes a lot more than just a confident delivery. This July, we co-organized our first offline event of 2020 — FrenchTech Connect #7 // How to Pitch Foreign Investors — with French Tech Seoul for Korea-based startups and entrepreneurs. The event saw members from across the startup ecosystem engage in the discussion, including entrepreneurs, investors, startup accelerators, government officials and leading corporates.
Panelists for the day were Eunse Lee (Techstars Korea US), Solomon Moos (ID Invest France), Guillaume Parvaix (Hyundai Motors Group Korea) and Nathan Millard (G3 Partners). They shared their knowledge and expertise working with startups and talked about mistakes startups often make while pitching and opportunities they fail to recognize in their own business.
Eunse mentioned that many startups seek out investors that are not the right fit for their business. He stated that doing investor research and having knowledge about your own numbers such as financial projects and market value are essential in finding the target investors. He added that entrepreneurs should also be passionate about what they are creating and where they aspire to take their business in the future.
Sharing the perspective of corporate investors, Guillaume noted that corporates see themselves as potential external partners that can help startups reach their goals. And because it’s a partnership, he urged business owners to think long-term when considering working with an investor. Like Eunse, he also emphasized doing your homework on target investors and focusing efforts into creating customized pitches for every investor.
Doing business during this pandemic is a major concern for businesses across the globe, especially emerging startups. Solomon said that startups must think about how they plan to use cash and be smart about it. He advised entrepreneurs to develop strategies that can help them gain profits quickly in this period. Meanwhile, Eunse assured that capital has not disappeared and investors are still investing. He asked startups to review their business idea and identify which period of time their pain point addresses as it takes time to develop any business.