Originally posted by MET student Dana Bjornson on 20/01/2018
In my quest to locate a current elevator pitch worthy of analyis, I found countless videos of entrepreneurs’ products, without the actual pitch. It seems as though the art of making a pitch is evolving into a hybrid format, that combines elements of an elevator pitch and elements of a venture pitch. Sites like Kickstarter and AngelList vastly contain videos that sell the product, as opposed to obtaining investors. The pieces of the traditional elevator pitch are typically listed below the product video, in graphic or paragraph format. It makes me wonder if the traditional elevator pitch is on its way down?
I have decided to present this “eleventure pitch” for two important reasons:
- It contains some of the “Five T’s” of Adam Lorant’s lecture, “Perfecting Your Pitch” (jump to the 8:40 mark for the 5 Ts). The T’s that are not included in the video, can be sourced from the Microventures.com site. This webpage is very well laid out and will answer many questions that a potential investor may have. (Should one of my ETEC 522 classmates decided to critique this hybrid pitch, please go to the Microventures.com site, to find the remaining elements.)
- This is a pitch that is very active. Money is coming in as I type this sentence! The CEO is answering questions, as they come in. I am finding it very exciting to be following this venture, in real time.
Admittedly, prosthetics are not directly related to the world of Ed Tech. However, this product utilizes both 3D printing and AI technologies, both of which are technologies moving into the world of Ed Tech. Moreover, this is one product that makes me want to invest! CEO Easton LaChappelle conveys passion, domain expertise, and leadership in his eleventure pitch (complete with inspiring “eleventure music”!). These are but some of the qualities that David Rose talks about in his TedTalk, “How to Pitch to a VC (Venture Capitalist)”.
This is a great elevator pitch as it introduces the purpose it serves – the problem, which is the challenges faced by amputees with using prosthetics. The problem with existing prosthetics include the cost, weight and inefficiencies. In describing the product, an investor knows exactly how the product provides a solution to the identified problem and who the product serves.
Market Share: It is not clear what the market share will be for the product, but the product would meet a global audience of amputees and hence be very promising.
I would invest in this product, as it emcompasses a number of technologies including A.I, machine learning, and 3D printing. I think Unlimited tomorrow could provide the basis for developing future products for artificial body parts or prosthetics.
I’m going to put money into this initiative. Medical innovation, in my perspective, has always been a burgeoning sector. And this project brings together 3D printing, AI, machine learning, and the medical industry. This type of high-tech product is difficult to copy rapidly, and it has a certain amount of market competitiveness. This project, as founder Easton pointed out, is critical for the present prosthesis market. I’m hoping to be able to contribute to this worthwhile initiative.