Founders worry too much about highly funded competitors. Usually funding matters less than the founders' ability. In the short term, a highly funded competitor can hurt you by e.g. lowering prices. But if you survive long enough, it will ultimately become a test of ability.
Great technique. You want to go to the people who are the best bets last, after you've worked out the bugs in your presentation. I'm hoping that I won't need to learn these skills and I can just leverage recommendations from my network and evidence of past performance.
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Also, I want to be clear. This isn't just the presenter's fault (it's best to think it is so you get better). I have seen some TERRRRRRRRRIBLE companies get funded over mine. A lot of these judges and investors make bad calls.
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Pitch competitions are stupid for a myriad of reasons. The lack of skin in the game is #1. The format is #2. I could go on and on...
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