Now in its 10th year, Engage Invest Exploit (EIE) is Scotland’s premier technology investor showcase. My company, Mixed Signal Systems will be seeking investment at EIE18 in Edinburgh on April 19th. With that investment, we will commercialise some very exciting technology that we have developed.
To help us to prepare for EIE18, Johnston Carmichael, a leading Scottish accountancy firm, were kind enough to invite us to a “pitch panel” in their Edinburgh office.
The pitch panel was an opportunity to sit down with a panel of real investors and experienced business people to receive feedback on our investment proposition.
Pitching to more than 150 investors at EIE18 can be a daunting prospect but to quote a military adage, “Proper Planning and Preparation Prevents Piss Poor Performance”. Coarse wording aside, the assertion is certainly true and has stood the test of time. After all, the Scouts’ motto is “Be Prepared” for a reason.
The pitch panel was the first opportunity for me to present our case to real investors who would view the proposition with a critical eye. With every intention of being fully prepared for EIE18, the opportunity was one that I was glad to take.
On arrival at the Johnston Carmichael office on the morning of the pitch panel, I had a few moments to gather my thoughts in the reception area. As I waited, a television tuned to the BBC News Channel was reporting on Mark Zuckerberg’s handling of the recent Cambridge Analytica controversy. In the context of fundraising for a technology startup, the report was a timely reminder of the importance of privacy and data protection in the modern world.
After a few moments, I was warmly welcomed by Adam Hardie, a Business Development Partner at Johnston Carmichael. “Nice to meet you Kieran. We’ll be ready in a few minutes. We’re just finishing up with the previous company now.”.
I soon forgot the warm welcome when the founders of that company passed me as they left. A knowing grin and only 3 words – “That was brutal”. Well, no turning back now.
The panel, consisting of 4 men and a woman, had a busy day. They were expecting to see 7 companies, each for an hour. I was representing the third of those 7 companies.
After we all introduced ourselves, I began with my 60 second pitch. I completed the pitch in about 50 seconds, perhaps a sign of some slight nerves. After some initial feedback on the pitch itself, we began a 40-minute discussion on the product, the market, our route to market and several other topics.
The discussion was wide ranging, and all 5 panel members seemed to be fully engaged. This is something that I took as a positive and am greatly appreciative of. The range of fresh perspectives presented to me was invaluable.
Above all, it became clear to me how beneficial it can be to have a prototype unit with you in such meetings. Even more so as I had forgotten to bring one with me that morning!
Towards the end of the roundtable discussion, I gave my 60 second pitch for a second time. Informed by the 40-minute discussion, the feedback from the panel members on the second delivery of the pitch was particularly useful. They had a better idea of what I was trying to communicate in the pitch. They knew, better than I, whether I was communicating my intended message effectively.
Over the course of the hour, I scribbled numerous notes into my notebook. I’m glad that I did as I certainly wouldn’t have remembered all the feedback after I left the meeting. After I thanked the panel members and left the office, I immediately went to a local Starbucks to process all the feedback.
Where to start? I have a lot to work on but overall, I felt that the pitch panel went well. From my perspective, it was a very productive use of time. On the road to EIE18, this was a significant milestone.
Acknowledgements
First, I would like to thank the pitch panel members for their time. I greatly appreciate their insights and advice.
Second, I would like to thank Johnston Carmichael for hosting the pitch panel.
Finally, I would like to thank Kirsty Irvine for arranging everything. Rescheduling the pitch panel to work around the ‘Beast from the East’ was most helpful.
About EIE18
Now in its 10th year, Engage Invest Exploit (EIE) is Scotland’s premier technology investor showcase.
EIE18 will take place on April 19th 2018 in McEwan Hall, Edinburgh. Over the course of the day EIE18 will showcase 60 high growth, data-driven innovative tech companies pitching for funding.
About Me
I am the Managing Director of Mixed Signal Systems Limited. I’m an experienced Electronic Engineer focused on Mixed-Signal Electronics, Embedded Systems and the Internet of Things (IoT).
Please contact me if you’d like to meet before, during or after EIE18.