Startup Pitch Competition: Three founders compete for $25K | E1999
29 Aug 2024 (18 days ago)
Jason and Kelly kick off the show
- Jason Calacanis and Kelly Schreier discuss Founder University, a program designed to help founders launch startups.
- Schreier outlines the key attributes of successful applicants, emphasizing a preference for teams with technical expertise (developers, designers, growth hackers) and a strong work ethic demonstrated through tangible product development.
- The hosts introduce the episode's format: three startup pitches, each with a two-minute time limit, to secure potential investment.
Eric Gilbert-Williams pitches The Public Bored
- Eric, the CEO and co-founder of The Public Bored, presented his business idea: a platform that simplifies the process of displaying content on digital billboards.
- The Public Bored's business model involves offering one free display spot to attract users and then generating revenue through upgrades and a variable take rate based on the revenue generated for billboard owners.
- Eric envisions The Public Bored expanding beyond traditional billboards to encompass any digital signage, including those found in elevators, vehicles, and other locations.
Fidelity Private Shares - Visit Mention our podcast and receive 20% off your first-year paid subscription.
- Cap table management and due diligence can be overwhelming for founders.
- Managing investors should be easy, and Fidelity Private Shares can help.
- Equity management and fundraising should not be a founder's full-time job.
- Fidelity Private Shares offers a trusted solution for managing cap tables and data rooms.
- The platform provides faster and more accurate 409a valuations.
- It allows for sophisticated scenario modeling, which many founders overlook.
- Founders can use the platform to understand pro forma cap tables and potential outcomes of acquisitions.
- The platform automates funding rounds to ensure they go smoothly and professionally.
- Fidelity Private Shares offers a collaborative platform with excellent support.
- The platform includes a star community for access to exclusive events for founders and VCs.
- Mentioning the podcast when visiting Fidelity Private Shares' website provides a 20% discount on the first-year paid subscription.
Matt Schwed pitches Speed AI
- Speed AI is an app that generates personalized training schedules and coaching for runners, guiding them from marathon registration to the finish line.
- The app considers the runner's fitness background, wearable data, and provides training adjustments based on factors like sleep quality.
- Speed AI offers three product tiers: a $88.99/month training plan, a $29.99/month training and coaching option, and a $59.99/month package including training, coaching, and a monthly subscription box with nutrition products.
Joe Tannorella pitches PodEngine
- PodEngine is a podcast audio intelligence platform that uses AI to help businesses grow revenue through podcasting.
- PodEngine analyzes thousands of podcast episodes daily to identify relevant podcast guests, sponsorship opportunities, and brand mentions for its users.
- PodEngine is currently iterating on its platform, developing features such as a guest booking workflow, media monitoring solutions, and a podcast search engine.
Google Cloud - Accelerate your startup journey with the Google for Startups Cloud Program. Apply
- Google for Startups Cloud Program is offering $200,000 in Google Cloud credits to startups.
- AI startups can receive up to $350,000 in Google Cloud credits.
- More information about the Google for Startups Cloud Program is available at startups.com/twist.
Ranking the three companies
- Speed AI is ranked as potentially facing the most challenges due to the large size of the running market and the competitive consumer landscape.
- Pot Engine is ranked as having the highest likelihood of generating a substantial return on investment due to the escalating popularity of podcasting and the lucrative nature of data-driven businesses.
- Public Board is ranked as having significant potential due to its disruption of a conventional industry, its capacity to expand its customer base, and its diverse range of applications.
Founders' experiences and learning outcomes at Founder University
- Matt, with an engineering background, found value in learning the business aspects of a startup, such as accounting, company structuring, cap table setup, and streamlining founder tasks.
- Joe valued the community aspect of Founder University, highlighting the benefits of connecting with like-minded founders for support, collaboration, and potential customer acquisition.
- Eric's key takeaway was a deeper understanding of his Total Addressable Market (TAM), particularly through a bottom-up approach, which helped him identify his ideal customer profile and refine his go-to-market strategy.
Runway - Sign up at to get your first 2 months free.
- Runway is a financial planning software that simplifies financial management for businesses.
- Runway integrates with over 650 tools, including accounting, HR, and CRM software, to provide a comprehensive view of a business's finances.
- The software offers features such as headcount planning, scenario analysis, real-time charting, and customizable investor reports.
Q&A
- A question was asked about the most important metric to track six months from now. The response emphasized understanding customers deeply and having a few highly satisfied customers rather than many indifferent ones.
- The importance of having a notable "lighthouse" customer was highlighted, as it can significantly boost credibility and traction.
- Another question focused on marketing and go-to-market strategy for a data-centric product. The response suggested sending targeted reports and screenshots to the right people to generate interest and engagement.
- The strategy of identifying and contacting the right individuals through platforms like LinkedIn, Lead IQ, or Crunchbase was recommended.
- The concept of "land and expand" was discussed, where initial users are encouraged to use the product extensively, and then upselling them to multi-seat licenses based on their usage patterns.
- A question about successful growth strategies for consumer apps was addressed. Examples like Fitbod, Steezy, and Calm.com were given, emphasizing the importance of creating a product that users find essential and share with others.
- Hiring people who are passionate about the product's domain was advised, as they are more likely to contribute significantly to product-market fit.
- The significance of net promoter score and built-in virality in the product was discussed, where users naturally promote the product to others, enhancing growth.
- The concept of multiplayer mode was mentioned as a way to increase virality, where users can invite friends to join and use the product together.
- The financial benefits of virality were explained, showing how acquiring customers who invite others can turn a net loss into a net gain.