Pitch Competitions?

ruffinmitchener·Sep 10, 2021

Hi there! I have an early stage startup and am looking for non-dilutive ways to fund the early days. Can anyone recommend specific pitch competitions or other ideas?

DianePrince·Sep 10, 2021

Hey Ruffin, First, I'd look at what you can do to fund the business from revenue without taking money from outsiders.Before looking for outside money, start by evaluating what you really need.I see that Balsa is a service business and it probably won't require much to get going. Raising money difficult and draining and it's often not worth it.Also, pitch competitions often don't actually give capital and they can be a giant distraction. That said, if you're looking to raise money in a non-dilutive way options are: 1. Revenue (#1 option)2. Grants (if you join my Slack workspace there's a good video by someone who raised $100K in grants -- give me your email and I'll invite you)3. Crowdfunding, although this also takes a lot of time and requires a solid marketing plan behind it4. Loans -- hard-to-get from the bank or SBA but worth a try, is family an option? 5. Credit card debt I'm personally a giant fan of revenue!Incidentally, I coach founders for a living :-) Feel free to book a time if you'd like to talk through funding options https://calendly.com/dianeprincemalibu/30-minute-free-consultation

Briana·Sep 10, 2021

Hi Ruffin,I know a lot of schools (colleges, universities) run such programs and offer a small amount of money to the winners, and sometimes they extend these offers to alumni as well. Might be worth looking into :)

Iynna·Sep 11, 2021

Sounds like you should check out @rachelrobins event https://elpha.com/posts/xb1x5ri7/enthuse-foundation-pitch-competition-nov-9Additionally, consider grants with the NSF for instance (depending on what your company does) and other university pitch competitions - specifically check our tech/startups, PE/VC clubs at business schools. That would be a great resource for you!