One factor investors want to see in businesses is progress. “How far have you gotten from when you started?” “How much did your previous investment help you grow?” Ultimately, the question is “how much will our investment help you grow?”
That theme of progress was clearly evident at Start Madness, the $150,000 pitch competition being held on Wednesdays this month. First of all, the venue has improved. In January, the construction zone of Church & State wasn’t really the best location to be pitching for large amounts of money, It did serve its purpose and progress has been made by moving to the Holodeck.
While there are new companies pitching, many are the same as January. Like StartSLC, which has progressed to StartFest, those companies have also progressed.
Random Breakfast which has a health game platform called Step Pets not only changed their name, but received 20k in funding since January. Progress.
A judge pointed out OnQ Safety had added functionality since they last presented in January. Indeed, functionality and a new partnership had developed. Progress.
Other companies discussed winning small pitch competitions, making key hires and finishing MVPs. Progress.
Start Madness continues for two more Wednesdays this month starting at one pm sharp. Visitors are welcome.