Microsoft are entering their 8th year of doing the BizSpark European Summit which provides an opportunity for some of the best startups in Europe to present their business ideas and products to a panel of investors and expert judges. I’m presuming that if you are reading this blog, you know what BizSpark is.
Red Badger has been a member of BizSpark pretty much since it’s inception in May 2010. It has provided us with an excellent platform to grow our business by not just providing us with free Microsoft tools but also providing our business with key support through networking, events and key advice (particularly through Bindi Karia).
Anyway, back to the summit. We are incredibly pleased to have been nominated by Microsoft as one of fifteen startups in Europe (and one of two in the UK) to present our business ideas at this year’s summit to be held on 7th June. You can see who all of the other nominees are here. On the day there will be a number of keynotes and panel discussions with the day being MC’d by David Rowan, editor of Wired UK. Presenters and participants include Bob Dorff (co-author of the Startup Owner’s Manual), Professor Jerome S. Engel, last year’s Summit pitch contest winner Alessandro Rizzoli (CEO of Mobapp), plus Microsoft’s Dan’l Lewin, Corporate Vice President, Strategic and Emerging Business Development.
In the afternoon the startups will get their opportunity to present to the 250-400 investors, expert judges, and other guests. They will get a slot for a 5 minute lightning pitch followed by 5 minutes of questions. This is not a lot of time to sell your business idea so Microsoft have provided all of the training and advice to make sure our presentations are as sharp as possible. This includes some high level coaching on our presentations from Mike Sigal, an entrepreneur and startup coach who has been performing this coaching role at the BizSpark Summit for the last 3 years. Having gone through the first iteration of advice from Mike (the second iteration is to follow), I can say his advice is very inspirational. Combining this with the constant coaching from Bindi and a full day of rehearsals on 6th everyone should be well prepared come the 7th. Supporting the coaching is the PR activities surrounding the event being co-ordinated by Maxine Ambrose and Daisy at Forgather ensuring all the startups are meeting their several deadlines leading up to the event.
What we are pitching is an interesting question as we are slightly different to the other nominees. From what I can gather, the majority of the other nominees have a fairly mature product for which they might be asking for investment for. We are slightly different in that we have a product idea and ultimately want to move in that direction and fairly soon. However, we are currently an early stage product company. What I mean by that is that we want to self fund the product arm of the company through profits made from the client services arm with the two running side-by-side. We’re just not quite there yet. So, our pitch will be geared toward presenting what problems our idea will solve and how the world will be different once it is built. An interesting challenge.
Previous winners of this event have had great success as a result, gaining lots of recognition as well as some key investment.
Stolen from this page – “In 2009, Swiss company KeyLemon wowed the judges with its face recognition technology and has enjoyed steady success since. In 2010, the joint winners were Artesian Solutions and Kobojo. Last year, French games company Kobojo secured over 5 million Euros of investment, has expanded into other countries worldwide and has reached over one million active daily users. Early this year, Artesian Solutions announced that investor firm Octopus was investing £2 million in this successful young British company, which focuses on sales intelligence.
Last year’s winner is Mopapp, whose CEO Allesandro Rizzoli impressed the judges with his ingenious mobile appstore aggregation service. Alessandro has since relocated the company from Italy to London and the company continues to grow.”
People’s choice award
This year there is an additional award, The People’s Choice. This goes out to the public vote and is entirely based on people clicking on a Facebook like button. It largely depends on how active you are at promoting your company to all of your personal and company Facebook friends. Not my favourite method of voting but if you have 10 seconds spare, do go and like Red Badger on our Finalist Page.
That pretty much sums it up. I’ve now got more work to refine the 5 minute presentation, some rehearsals and then the big day. Wish me luck!