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.”
Date: April 15, 2011
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.