Last year, Shuo Li stepped out of Dr. Kevin Chen’s lab donning a blazer and tie, not the everyday outfit for an electrical and computer engineering graduate student. Shuo and two other colleagues, Aidong Yan and Ran Zou, had created their team called “Airborne Laser” just six weeks earlier and were on their way to the final pitches of the Randall Family Big Idea Competition, an experience-based learning opportunity open to all Pitt students. What they did not expect was that they would reach the final round of the competition and end the night on stage clutching a giant check made out for $15,000.
Mentoring at Pitt can be a rewarding experience both for the faculty/student entrepreneur and for the mentor who plays an often transformative role in helping translate a potentially world-changing idea or research discovery into a product or service that makes a difference in people's lives.
When your pitch is all said and done and you’ve successfully navigated the Q&A portion, what is it that investors talk about after you leave the room? Often times, angel investors will break out into what’s known as a “mind-share” meaning they discuss what they like vs. what they didn’t like about your startup or innovation. We asked angel investor John J. Jacobs from the Pittsburgh chapter of the Keiretsu Forum and Pitt School of Law alumnus, the top questions that come up after they hear your pitch.
Pitt professor of mechanical engineering and materials science William "Buddy" Clark is no stranger to innovation and entrepreneurship. During his illustrious career he has been associated with 33 invention disclosures, has been issued five patents, and has had his discoveries licensed from the University eight times, including four startups. He is affiliated with the Center for Medical Innovation, the Mascaro Center for Sustainable Innovation and the Center for Energy, all at the Swanson School of Engineering, where he also coordinates the Innovation, Product Design and Entrepreneurship certificate program.
We asked some of our partners from the regional startup investment community to discuss the five biggest mistakes that startup founders make when pitching to investors. Zach Malone is with Draper Triange Ventures, where he reviews approximately 400 investment opportunites a year and serves on the board of two Draper investment companies, Thread and ContainerShip.io. Matthew Lancaster is Pittsburgh Chapter President of Keiretsu Forum Mid-Atlantic and an investor with Ferrum Capital Partners.