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Discussion: TechStarsNY, one of the most successful tech incubators in the country, recently hosted Demo Day, a ritual that allows young startups to strut their stuff in front of venture capitalists, entrepreneurs, and the media.  Illuminated through a series of slides or videos, the startup founder begins with a problem – i.e. digital billboards aren’t nearly good enough at adjusting their ads – then a solution, a demo, how they plan to make money, and finally, the pitch for funding.  At the end of the day some learn that their startup is funded, and others regroup for a longer season of pitching.  But they all soon have to find their own office space to make room for a new crop of tech heads to “incubate.”

Source: CNN.com

Date: April 15, 2011

Link: http://tech.fortune.cnn.com/2011/04/15/startup-mating-rituals-101/

Questions for discussion:

  • Why do the startups show recordings of their product in action as opposed to giving a live demonstration?
  • Discuss the notion that a tech “incubator” like TechStars NY is tantamount to getting a college degree from Harvard or MIT.

 

One Response to “Startup mating rituals 101”

  1. Ty

    1) in case something doesn’t go just right…they can re-record the whole thing. Live, they don’t have that option and only get one shot with the audience.

    2) the experience that one would get in the incubator (assuming high quality people are involved) would be incredible. I am not sure it would be like a college degree but but you would get to try, fail, try again, succeed, work in teams, analyze, organize, present…quite an experience…

    Reply

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