If you had 10 minutes to pitch your business to a dream audience of potential investors, where would you begin?
The 10 startups featured in this month’s 10-xelerator
Winter 2012 Showcase recently pondered this exact question. Their paths to the dream pitch began 12 weeks ago when they entered the intensive 10-xelerator program of the Fisher College of Business at the Ohio State University.
Recently, they took the stage for the 10x Winter 2012 Showcase, sponsored by OSU's Center for Entrepreneurship
. Mike Lisavich, Program Manager for the 10-xelerator, describes the event as "the culmination of all of their efforts."
Startup teams enter the 10-xelerator at different stages of development. Some have little more than an idea, while others have already built a functioning beta website or found their first investors. The selected companies spend the early weeks sharpening their real-world applications, followed by months spent with potential clients and collaborators to learn their target markets.
Teams are mentored by and attend workshops with entrepreneurs, venture capitalists and angel investors throughout their time in the program. A wider circle of potential investors were in attendance at the final 10x Showcase.
“The ability to have that group of people in attendance is not something that comes together very often, and the buzz and energy in the room makes for something very special,” says Lisavich. "The Showcase affords new 10x teams the opportunity to connect with an array of investors and community members."
“The great part about the diversity of investors in the audience is that each of them has their own space where they like to invest," adds Lisavich. "I think there was at least one company within the ten that sparked each investor’s interest.”
The 10x Winter 2012 team portfolio includes One Exchange Street, an online exchange for bankruptcy claim buyers and sellers; MorphCARD, a mobile application for storing and redeeming gift card values; and Rooftop Down, a property management organizational application.
Source: Mike Lisavich, 10-xelerator
Writer: Kitty McConnell