I am of the belief that pitch competitions and startup battles are bad for entrepreneurship. Starting a company is not about winning a pitch competition it’s about building a meaningful business that adds value to your customers.
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What bout the “hot takes” from the judges (most of whom have never invested nor started anything) who just spent 2 minutes listening to your pitch and now get 30 seconds to give you a nuanced question or feedback in front of a live audience?! That’s gotta help, right? :-)
With two profitable vibrant growing companies, I am 0 for 6 in pitch competitions. The best company rarely wins. The judges are usually trash. I’d even argue that winning one of those, like early press coverage (particularly personally focused), is a strong COUNTER signal.
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Forgot about one. 0 for 7! However I will say this. At one I said I was looking for mentor ship and after I lost, one of the judges emailed me and that blossomed into a long term relationship that I will be forever grateful for.
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I’d love to see data on companies who have won pitch competitions. Take TC Disrupt winners as an anecdote: HotelTonight (acq by Airbnb), CloudFlare (IPO), Vurb (acq by Snap), Yext (IPO), etc
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IMHO: Pitch competitions are in a category of things that look like progress but aren't.
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What is it good for? They’re lots of work, they’re time consuming, and if you need money or advice it’s better to just directly contact people for that.
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