Venture Capitalist at Theory

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1 minute read / Oct 24, 2012 /

Demo to term sheet in 3 hours

I met the Electric Imp team in April. I had bumped into one of their engineers at a party and he pinged me a few weeks later to say he was working for a startup and the company was raising. The company came in to the office on a Monday at noon.

Hugo, the founder, Electric Imp demoed their product to me. Ten minutes in, I stopped the pitch meeting, pulled 3 partners from their Monday partner meeting, and issued a term sheet that afternoon. The demo was just that compelling.

Electric Imp’s demo had three key parts:

  1. A simple and clear story line, that the audience related to, describing how a user might use their product to solve a problem and improve their lives.
  2. A beautiful product that inspires. Though the software was raw, the hardware and software worked together flawlessly and everyone in the room had a clear picture of the way the technology could change the world.
  3. Well practiced delivery. Smooth, crisp and clear.

Clearly, this process is an exception. But great demos close customers, investors and candidates because they sell the dream. Invest in your demo - they embody the vision, passion and aspiration of the company.

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