Here are the questions we want to answer to when we assist to a startup pitch.
Make a copy on Evernote :
Problem solved
What is the problem solved ? Why not be solved until now ? What is the need of the customers ? How do we cope with that ? What is the dynamic ? Is the problem growing ?
Product description
What are the key technology differentiators ? What is the product roadmap (Short term/long term) ? Is it sustainable/credible ? With what effort ? What is the end game or the final vision of the product ?
Market & Competition
What is the market and the size of it ? Market growth ? What are the competitors (direct and indirect) ? What is the European competition ? How much did the raised ? From whom ? What are the old players ? The new ones ? How much does the team know its competition ? Is in contact with it ?
Sales process and business model
What is the business model ? Is it credible ? What are the planned evolutions ?
Customers & traction
What are the customers ? What is the average time to close a deal ? What is the churn ? How are cohorts ?
Financials
What is the P&L? in the past, currently, in the future ? What are the KPIs ? What is the cash flow statement ? Are there banking debts ? Is it credible ?
HR
Point of view on the team ? What is the team ? How many employees ? What is the experience of the management team ? Why are they good entrepreneurs ? Where should we be cautious ? What are the short term recruitment ? What is the remuneration of the management team ?
Fundraising & history of funding
What is the size of the funding round ? What are the co-investors ? What is the structure of the funding round ? Incentive for the management? What is the P&L? in the past, currently, in the future ? What is the cash flow statement ? Are there banking debts ? Is it credible ? What is the current cap table ?
Exit and forecasted ROI
What are the potential buyers ? What are the comparable transactions ? What is the potential exit multiple ? What is the best path to success ? With what return ?