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Minority entrepreneurs at Howard University (HU) will be getting some entrepreneurship training and support from this new program. The prominent HBCU is teaming up with the Inclusive Innovation Incubator (In3DC) and financial services tech provider Fiserv to launch the Inclusive Innovation Labs, a program dedicated to helping entrepreneurs of color launch and scale their businesses plans. The program will also be supported by the National Black Chamber of Commerce. The inaugural cohort will welcome 15 HU-affiliated ventures to a virtual program that includes a full day of pitch preparation, one-on-one coaching sessions and entrepreneurship workshops. In3DC will lead and provide the tailored training throughout the program. “We have been committed to serving the underrepresented and underserved communities,” said In3DC Founder and CEO Aaron Saunders in a statement. “In3DC was established to provide this type of programming with educational partners such as Howard University and...
If you’re looking to fund your business, then you’ve likely considered pitching your idea to a group of investors. The key to successfully pitching your idea is having a compelling pitch and delivering it in an equally compelling way. Here, we will show you the important steps to creating a winning pitch, from conception to delivery. HOW TO SUCCESSFULLY PITCH YOUR BUSINESS IDEA TO INVESTORS HONE YOUR PITCH The first step to pitching your business idea to investors is perfecting it. To do this, ask yourself key questions. Can you make your point persuasively in a matter of seconds? The succinctness of your pitch is crucial because you’ll only have a few seconds to deliver it. Is your pitch specifically tailored to the needs and motivations of potential investors? Think of investors as people looking to hire someone or something to solve a problem they have. CREATE A POWERFUL PRESENTATION Once you’ve perfected your pitch, it’s time to come up with a powerful way to deliver it. You’ll...
As a start-up founder, finding ways to raise capital is probably one of the top three challenges keeping you up at night. Whether you’re trying to convince a family member or Silicon Valley investor to give you money, one key element for success is being prepared to clearly communicate your value and plans for growth and profitability. So in the words of Will Smith, “If you stay ready, you ain’t got to get ready.” Here are a few questions to guide you in clearly communicating your value: In 60 seconds or less, how can you convey the unique value proposition of your startup’s product or service? For an investor who’s pitched often, time is of the essence. Prepare and practice a 1-2 sentence compelling story which highlights: The problem you solve. The benefits that make this product or service stand out from the crowd. The key to winning a person over with this statement is to entice them to want to learn more. Most importantly, avoid catchy phrases and buzzwords. For instance, ...
Drafting and pitching your idea can be a daunting task because there is no standard format or how-to for communicating your idea to investors. The goal is to quickly capture the interest of your audience and convince them that your idea is worth investing in. Here are some pro tips to effectively communicate your idea: Put Your Startup’s Data Into Context Sure, numbers don’t lie, but if investors don’t know or understand what your data means, they probably won’t grasp how great your idea is. For example, when presenting the iPod to an audience, Steve Jobs didn’t mention gigabytes. Instead, he simply said the iPod could hold 1,000 songs. When drafting your pitch, be sure to make the data practical to give investors a natural and simplified understanding. Mesh Storytelling and Problem-solving Have your pitch flow by explaining the problem your idea solves via telling a story of why you decided to launch your startup. It’s not a bad idea to start your pitch with a captivating story...