INTRODUCTION
According to TechRepublic, health tech venture funding deals increased 200 percent between 2010 and 2014.
To increase your likelihood of securing seed or venture funding, it’s important to drive home themes or assertions while selling your idea.
Here are tips to help stay on message in your healthcare IT investor pitch.
DEVELOP TALKING POINTS
Your talking points need to differentiate your health tech company from the next. Examples include “Our goal is to increase IDN efficiency in staff workflow” or “Our product will aid in protecting IDNs from cyber attacks.”
Lead various sections of your presentation with your talking points, and make sure to back them up with data or examples. Eventually, your talking points should become second nature when speaking about your company and can be used in other branding materials such as press releases and tradeshow materials.
PRACTICE AND PRACTICE AGAIN
You don’t want to convey the image that you don’t know about your own company. Practice your presentation often so that you don’t need note cards when you’re in front of investors.
You want to get to the point that you can wake up in the middle of the night and recite your aforementioned talking points in any order. Knowing your messages can keep you from going on tangents or over-sharing.
PREPARE FOR Q&A
Your pitch is over, but now comes questions from the investors. Just like you would in a media interview, you should try to guess the questions you will be asked. For example, if you know there were a few details you couldn’t squeeze into your 10-minute pitch, be prepared to discuss those details (and also using your talking points again).
Think of it this way. You are a teacher who’s extremely knowledgeable about a topic and you have students who want to know more. Treat the Q&A like a conversation, rather than an interrogation.