Ready for CONNECTpreneur RocketPitch? What I learn from a Virtual Pitchfest for future professional entrepreneurship

This is a Guest Blog Post from Phuong Le. She originally posted this on Medium in October, 2022.

Have you ever watched Shark Tank and wondered if a real pitch would be the same? Have you ever wished you were Mark Cuban or Lori Greiner to know how closing a deal would feel like? This is a sign for you to attend a real one! Let me, an amateur entrepreneur, show you what I found interesting in a real pitchfest.

Introduction

I recently participated in CONNECTpreneur’s Rocket Pitch + Power Networking, one of the world’s biggest pitchfests, with over 500 chief executives, including over 200 CEOs and founders, and approximately 200 angel investors and venture capitalists from all over the United States. The event includes not one but two online networking sessions and a “Rocket Pitch” segment with fascinating startups.

After the opening remarks, where I got to hear from the event’s host and founder, Tien Wong, there was the “Rocket Pitch” Showcase of 12 promising new tech companies. From the original group, I was particularly interested in two of them, Kinometrix and PetMetrics, based on the strength of their AI and technological involvement, the viability of their expansion plan, and the positive social impact they could have.

Kinometrix

The company focuses on the one million patients’ fall risks in hospitals — a niche accident that necessitates the attention of authorities. Since this issue has been looked down upon and lacks subjective assessment or accurate risk measurements:

• More than a third of the number results in severe injuries that lead to 11,000 deaths.
• Cost ~$7,000 per fall due to higher discharge rates and long-term care facilities.
• Cost ~$7B annually as total expenses to overcome these injuries.

“The very first requirement in a hospital is that it should do the sick no harm,” claimed Florence Nightingale, demonstrating one of the major outcome that Kinometrix is following to achieve.

What Kinometrics has to offer

Using 500,000 inpatient records, Kinometrix was invented as an automated AI-driven platform that can predict real-time patient falls with specific modules and machine learning algorithms.

The patent-pending system automatically extracts variables from EHR with the assistance of AI and delivers this data to EHR for further adapted recommendations and protocols. This bi-directional API allows for seamless workflow integration that reaches 98% accuracy.

Kinometrix’s application in practice.

The company aims to address pressure injuries and hospital-acquired infections in their future AI-driven applications, in which the market is projected to be $98B, including over 1 million licensed beds in US hospitals. The business profits from an annual fee of $480 per licensed bed with the upcoming separate potential new risk prediction modules updating with an additional fee.

Kinometrix’s prospective market.

While the company’s 2022 revenue is only over $50,000 with the current four investors, it is projected to reach $2.3M in 2023 and over $25M in 2025. It was seeking a financial fund of $750K in its Rocket Pitch series seed raise for enterprise readiness & integrations, sales support, and IP & regulatory.

Meet the Kinometrix Team.

PetMetrics

The company was founded by Dr. Gary Richter, the owner of award-winning Holistic Veterinary Care in Oakland, CA, and the founder of Ultimate Pet Nutrition supplements and food, which is currently holding over $50M in annual sales and over 400,000 loyal users.

What is PetMetrics?

PetMetrics is an broad-spectrum vital sign sensing platform using a wearable biometric sensor with a mobile app of AI data analytics licensed from NASA designed. The device’s AI/ML systems utilize the pet’s data while comparing it with other similar symptoms from other animals to provide an alert at the earliest signs of illness, protecting the pets and their parents from fatal transmitting diseases. It comes with a mission to:

• Serve the growing need for a technology that allows easier and non-invasive detection of all pet diseases.
• Lower the rate of late diagnosis, unqualified treatment options, and mortality rates.

A hardware device is expected to cost $100–200 with a SaaS subscription fee of $14.99 per month. Clipping this device on your pet’s collar and automatically receive all its needs.

Why PetMetrix is competitive.

Since pet parents are often willing to spend to protect their loved ones, the market for this product is extremely inelastic: the US pet industry exceeds $100B annually, with the pet wearables market holding 22% CAGR. The company further targets the market of working dogs (in police and military departments) and even large animals such as horses and cattle.

In the Rocket Pitch seed round, the company desired a $1M SAFE note of $8M valuation with an 80% discount rate. The financial support would help the company execute appropriate plans for growing fast, reaching its expected break-even in 2024.

My takeaways

• Twelve competitors presented their business, predominantly of which are related to technology and AI-driven. A rising trend in innovation and entrepreneurship is about using technology and digital tools to enhance the well-being of not only humans but also all the surrounding lives. I could expect that even the investors had a hard time deciding which company was the most promising because every single one was excellent.
• I found it greatly interesting because of the “meeting” feature, in which any attendees, including me, can directly get in touch with the entrepreneurs or CEOs I desire via the breakout rooms or published information of the registrants — even I can become an investor! So many people who are just individual investors claim to get a profit out of their investment.

• There is Investors’ Pollings to gather needs and wants from participated investors. It was pretty interesting as I could observe the current pattern and desires of investors when they declare their needs directly to the organization.
• PetMetrics and Kinometrics are both potential companies with ambitious plans. However, it is still a challenge to seek such a large amount of financial support, which will limit their investors to only large companies or VCs rather than small and individual investors who hold a significant percentage of the participants of the Rocket Pitch fest.
• This feels like Shark Tank in real life, in which I can be a Shark if I want to. I wish I had a chance to attend an in-person version of this monthly Pitchfest. So many lessons to learn and improve myself as an entrepreneur. Kudos to all the great work!

About CONNECTpreneurs:

CONNECTpreneur Forum is a global network including 25,000+ entrepreneurs, founders, CEO, venture capitalists and angel investors, CXOs, and many other business executives. The organization’s RocketPitch is the world’s biggest monthly pitchfest bringing together 800+ top founders, CEOs, investors, and business leaders for excellent networking through pitches of intriguing early-stage startups. The event is famous for the caliber of guests and participants and fascinating networking and programs, all of which combine to create unforgettable events and opportunities for our attendees and the value they receive from their sponsorship. Countless entrepreneurs, investors, and funders worldwide rely on the CONNECTpreneur team for guidance and assistance with capital raising, coaching, and other business needs.

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Get Your Business Funded in 2021: A Look at Super Angels

This is a Guest blog post frim Ines LeBow, a CONNECTpreneur strategic partner and Coach. She has prepped dozens of successful presenting companies who have successfully raised capital.

The year (2020) that will be forever defined as the year of the Covid pandemic brought about significant upheaval and change in many areas of private and professional life across the globe. It also sparked tremendous shifts in the start-up investment world. One class of investors emerging is what we call “Super Angels”.

What Are Super Angels?

Super Angels in the business investment world are best described as a hybrid between traditional angel investors and venture capitalists. They tend to invest early in the seed round of funding at startups at levels that are above what gets raised in the friends-and-family round but less than a typical venture round of funding. However, when it comes to how they raise funds, they approach the process much like a typical VC would.

Super Angels are not just serial start-up investors; they invest in businesses as their full-time gig and tend to have a large and growing portfolio in which they take an active interest. They don’t tend to be interested in long-term investments or board roles, thus they like to look for business investments in which the principals are experienced entrepreneurs.

Why Should I Consider Super Angels?

As a result of financial, economic, and market trends, institutional venture capital activity is still on the rebound. Some rode the wave of growth and allowed for a bloated infrastructure and high fees that are now preventing them from being nimble in the market. Others have their portfolio tied up in businesses that are still recovering from the pandemic, and they’re not yet willing to exit those investments.

These changes with traditional VCs open up opportunities with angel investors and super angels, especially as the investment model is changing to one of funding more startups but with less cash invested in each business. One added advantage of this investment approach is that super angels have a broad reach to the kind of talent, investment contacts, and potential M&A opportunities that can go beyond the access a traditional investor can provide.

How to Get Super Angels to Invest

Many of the top super angels don’t just take an appointment from anyone off the street. They require a referral from someone they trust, so cultivating a good network in the start-up world is going to be important. But don’t give up hope if you aren’t well networked. This isn’t just about who you know, although it helps. These are smart, experienced investors looking for good people and great ideas behind which to put their money. If you employ a sound strategy and disciplined approach, you can be successful in getting funded by a super angel. Here are a few articles you can review to ensure you’re prepared to engage with a super angel investor:

• “How to Open Doors to Start-Up and Next-Stage Growth Funding”
• “Is Your Fundraising Story Epic?…”
• “5 Keys to Convince Investors Your Product Can Make Money”
• “How Far Will You Go to Get Your Business Funded?”

If you are an entrepreneur looking for funding, are interested in presenting at CONNECTpreneur.org, or would like to learn more about how to stand out with an epic fundraising story, contact me for a complimentary consultation by phone at 314-578-0958 or by email at ilebow@transformationsolutions.pro. You can find me on LinkedIn Profile at www.linkedin.com/in/ineslebow or my ETS website at www.transformationsolutions.pro.

CONNECTpreneur enters our 9th year with a bang

Recently, I was interviewed by the Montgomery County Economic Development Corporation about The Big Idea CONNECTpreneur Forum, of which they are a sponsor. Following is the transcript of the interview. I have been a Board Member of this tremendous organization for the past 4 years.

CONNECTpreneur recently entered our 9th year. To date, we have hosted 47 events, the last 4 being “virtual” events. Over 20,000 business leaders, investors, and entrepreneurs from around the world have attended our events. Our website is connectpreneur.org. Please check us out!

 

THE BIG IDEA
CONNECTPRENEUR FORUM

IN CONVERSATION WITH TIEN WONG, CEO, OPUS8, AND
FOUNDER & HOST, CONNECTPRENEUR

Get to know CONNECTpreneur, a unique forum which attracts the region’s top entrepreneurs, investors, innovators and game changers. Organizers of the top tech and investor networking events in the region.

WHY IS IT IMPORTANT TO MAKE CONNECTIONS BETWEEN BUSINESS LEADERS OF ALL STRIPES – CEOS, VCS AND ANGELS – TO EARLY STAGE COMPANIES?

Not just for early stage companies, but all businesses of all sizes, the old adage, “It’s not what you know, it’s who you know,” still applies very relevantly. People want to do business with people. Early stage companies, in particular, have many needs: capital, talent, customers, vendors, partners, product development, marketing, etc. and having a large and deep network gives an entrepreneur a huge advantage in the marketplace, for obvious reasons. There is a proven correlation between the size and quality of one’s network, and one’s overall success — in entrepreneurship and most endeavors.

 

WHAT IS THE SECRET SAUCE THAT MAKES CONNECTPRENEUR A TOP TECH NETWORKING EVENT IN THE REGION?

It’s our ability to attract the region’s top entrepreneurs, investors, innovators and game changers. We pride ourselves on organizing the top tech and investor networking events in Montgomery County and the Washington region as a whole. We think that the reason that over 70% of our surveyed attendees rate CONNECTpreneur as the “number one” tech and networking event in the Mid-Atlantic region is because of the high quality and seniority of our attendees, which is unprecedented. Over 20% of our attendees are accredited angel investors or VCs, over half are CEOs and founders, and we intentionally keep the ratio of service providers as low as possible. This makes for more meaningful connectivity among the participants.

 

HOW DOES CONNECTPRENEUR SUPPORT FEMALE ENTREPRENEURS AND ENTREPRENEURS OF COLOR?

CONNECTpreneur is very intentional about providing a diverse set of presenters and speakers in our programming. Our community of entrepreneurs and investors is highly diverse, and our selection committee is very tuned in to the benefits of gender and cultural diversity. We actively work with and partner with local, regional, and national players who share our values of “double bottom line” ethics which value social impact as well as financial gain. Some of our partners include Maryland Tech Council, TEDCO, Startup Grind, Founder Institute, Halcyon and Conscious Venture Labs to name a few.

 

 

WHY IS MONTGOMERY COUNTY A GOOD LOCATION FOR AN INNOVATIVE STARTUP COMPANY? AND, WHAT’S YOUR BEST ADVICE FOR SUCCESS?

Montgomery County is a top tier County nationally for startups, and that’s evidenced by numerous awesome success stories. MoCo has a tremendously educated talent base, world class government institutions, top schools, and a large base of angel and high net worth private investors who can provide seed funding. The best advice for success is to understand thoroughly your customer and their needs and pain points very deeply. That way you can get to “product market fit” more quickly, de-risk your opportunity, and be more capital efficient. Too many companies get enamored with their product and design, or culture, or getting media coverage whereas the true essence of any successful business is to provide excellent products and solutions to its customers and sell into their markets like crazy.

 

WHAT ARE SOME UNIQUE CHARACTERISTICS OF AN EARLY STAGE COMPANY THAT SPARK YOUR INTEREST TO EXTEND AN INVITE TO PARTICIPATE IN THE FORUM?

We are looking for presenting companies which have truly disruptive ideas, products and/or solutions which could be sold into huge markets.  And of course, the most important criteria are the quality, expertise, and coachability of the founding team. We have had presenters from all kinds of sectors including life sciences, cyber, telecom, blockchain, wireless, mobility, e-commerce, marketplaces, fintech, medical devices, IoT, etc.

Learn more about CONNECTpreneur at our website: connectpreneur.org