Sample Seed pitch deck: Terra One's $7.5m deck| TechCrunch
Terra One’s pitch deck has a few wins, but also a few misses. Here’s how to fix that.
© 2024 TechCrunch. All rights reserved. For personal use only.
Terra One’s pitch deck has a few wins, but also a few misses. Here’s how to fix that.
© 2024 TechCrunch. All rights reserved. For personal use only.
Apple released new data about anti-fraud measures related to its operation of the iOS App Store on Tuesday morning, trumpeting a claim that it stopped over $7 billion in “potentially fraudulent transactions” across the four years between 2020 and 2023. More than $1.8 billion of that total was stopped in 2023, per Apple, which is […]
© 2024 TechCrunch. All rights reserved. For personal use only.
Decks are all about telling a compelling story and Goodcarbon does a good job on that front. But there’s important information missing too.
© 2024 TechCrunch. All rights reserved. For personal use only.
The deck included some redacted numbers, but there was still enough data to get a good picture.
© 2024 TechCrunch. All rights reserved. For personal use only.
NOQX is a Stockholm-based startup on a mission to help companies improve their goal-setting, collaboration mechanisms and experiences. It has just raised a $200,000 pre-seed round to help accomplish its aims and, by extension, help out companies with employee counts ranging from 50 to 500 or so. The company hasn’t been around for very long — the team behind NOQX felt frustrated by a lack of effective goal management tools for companies and founded the company in 2023.
With “clarity of objectives” as its rallying cry, NOQX addresses a critical function of any business — and indeed, of pitch decks — so I was intrigued to see how well NOQX communicates this for itself.
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NOQX’s deck has 18 slides, none of which has any redactions, although the company omitted its competition slide. An 18-slide deck should cover everything (most startups do just fine with 16), but there are some omissions that leave it incomplete.
In the past 90-odd installments of this Pitch Deck Teardown series, I’ve generally stuck with a “three things that are good” and “three things that can be improved” format. I tried ever so hard to do that for NOQX as well but eventually gave up.
The bold design of NOQX’s deck made me want to love it, but in truth, reviewing this deck was a deeply frustrating experience. Aside from the crucial omission of an Ask and Use of Funds slide (it’s not uncommon to get it wrong, but it should at least be included!), just about every slide in the deck felt almost very good — but then stumbled by not including a critical factor or overlooking an important detail. The deck is essentially so vague that it seems the founders don’t have a firm grip on why they are doing what they are doing.
[Slides 2, 3, 4] That’s a lot of problem slides. Image Credits: NOQX
I was surprised to see NOQX break out three different problem slides. It is almost defensive, as if the company is desperate to convince investors that “Yes! I promise! There’s a real problem worth solving here!”
Investors are sharp. It’s far more effective to streamline this into a single, punchy slide. This approach spares everyone the boredom of repetition and sharpens the focus, ensuring the core issue shines without unnecessary fluff.
The problem slide should hit investors with a stark headline for a more compelling punch: “70% of companies are failing to achieve their goals” immediately sets the stage, signaling a significant and widespread issue. Below this headline, NOQX could have added three to five bullet points, each a mini-revelation on why this massive failure rate matters. These bullets need to pack a punch, highlighting the dire consequences for businesses and the economy, and the looming disaster if left unchecked. The idea is to make investors sit up and realize, “We can’t afford to ignore this.”
These bullet points should do more than just state the obvious; they need to align with what keeps investors up at night directly: opportunity and scalability. Each point should scream potential and profit, convincingly arguing why NOQX holds the golden ticket to a pressing, lucrative problem. By distilling the problem down to a single, impactful slide, NOQX would have cut through the noise, commanded attention, and made their case with the kind of clarity that demands a checkbook, not just a nod.
Saw this one coming, right?
[Slides 5, 6, 7] If you have too many solutions, you don’t have a solution. Image Credits: NOQX
From a storytelling point of view, it’s often worth divorcing the “solution” slide from the “product” slide. In this progression of slides, Slide 5 is kinda-mostly a solution slide, Slide 6 is kinda-sorta a value proposition slide, and Slide 7 plays the role of a product slide — but none of the slides are convincing.
Identifying the slides properly means that it becomes much easier to know what to include.
For a solution slide, it’s crucial to clearly articulate how your product or service solves the problem you’ve identified. This slide should succinctly explain why your solution is superior to existing alternatives. It’s worth keeping this part strategic and high level: You’re about to dive into the nitty-gritty on the product slide.
For the value proposition part of the story, founders must clearly define the unique benefits the product or service offers and why it stands out in the market. This slide should succinctly communicate what makes the startup’s offering valuable to potential customers and what differentiates it from competitors. It needs to highlight the distinct advantages it provides, such as cost-efficiency, superior technology, enhanced features or better user experience. In this case, NOQX’s value props are a bit of a nothingburger — fine at first glance, but not differentiated enough to really stand out from the competition.
For a product slide, you get to dive in and show the actual features and functionality that will help your customers get value from your product and solve their problem. Apart from the fact that “our awesome platform” is a bit cringe, it doesn’t actually say anything. Every startup in the world could say “our awesome platform,” which means you’re wasting that slide real estate for nothing. What is awesome about it? Why should investors care? How is it different or unique?
[Slide 8] A timeline to confusion. Image Credits: NOQX
I love a good timeline slide that shows what companies are trying to accomplish. Instead, this slide fails to understand who it is talking to. Perhaps this slide works in a sales deck when the founders are trying to explain its value to customers, but for an investor deck, this seems a little superfluous.
Overall, this slide falls between “how it works” and “value prop.” It’s not doing a great job at either, and it fails to meet the overall criteria for what to include in a pitch deck: Will this help you raise money? My gut sense is “no.”
[Slide 12] Traction is the past. Image Credits: NOQX
I love how colorful and visually appealing this slide is. What it is not, however, is a traction slide.
If you don’t have revenue yet, your traction slide should outline what you’ve done to de-risk the company. This slide not only fails to do that, but it also goes to December 2024. Your traction, per definition, is just about the past: accomplishments and milestones achieved to date. Ideally it’s presented as charts and graphs that show that growth is solid and accelerating. This looks like there isn’t any traction in the business. That makes sense; it’s a young company. But don’t try to trick your investors; they’ll see right through this, so just be upfront.
But all is not lost. This slide is sort of a “use of funds” slide, showing what the company is planning to do in the near future. That would be helpful, but it should have clear time goals around when it is planning to hit those milestones and what it needs to do to get there. “Smart investors” and “repeatable sales process” are important steps along the way, but they are obvious. Investors want to know what you’re going to do to get those investors and sales processes.
[Slide 16] Why, oh, why? Image Credits: NOQX
Having a great “Why now?” slide can help create FOMO and a sense of urgency. This slide just doesn’t do that. It’s a great start, don’t get me wrong, but well-informed investors will know all of this; it doesn’t add anything to the conversation. I’d have loved to see some insights or some thought leadership here. Why was there a shift in organizational structures? What’s the impact of meetings evolving? What is the impact of a leadership style shift? What does “a flow” goal setting and cadence even mean in this context?
I feel like I’m missing something significant here. Perhaps this slide only works when it has a voice-over, but pitch decks need to stand on their own two proverbial feet. And that might mean that you may need more than one pitch deck: one for voice-overs and one for sending ahead.
Your team slide is crucial and is doing a lot of heavy lifting in the context of an early-stage pitch. Let’s take a look at this one:
[Slide 17] A solid team, but I want more context. Image Credits: NOQX
There’s too much and too little going on in this slide. The slide has a lot of very small text on it, which I don’t love. It’s pretty conversational, which can work, but in this case, I think it comes up short.
“With a decade of experience in hyper-growth B2B-SaaS companies.” Yes, but which ones, and why is that relevant? The rest of the statement is a lot of words, but it’s not helping me, as an investor, ascertain whether the CEO is a great fit to build this company. Now I need to head to LinkedIn, but there’s no link, so I’m going to have to start Googling, and I’m finding myself frustrated; this could be so much easier and better.
The CTO’s bio is similarly frustrating: Senior developer at Klarna is impressive, but it isn’t clear whether the experience is directly relevant or overlaps with the mission, vision and products NOQX is pursuing. The rest of the bio doesn’t say much. Yes, of course you are a visionary leader who strives to break new ground and deliver exceptional experiences, but the same can be said for every startup CTO ever. Be more specific. Explain why you’re the gold-plated unicorn on a pile of unfair advantages and talents that lead me to believe I’d be crazy not to deploy money into this startup.
And finally, if your head of UX is a co-founder, we need to have a conversation about whether that makes sense. And if she’s not, what is she doing on your team slide? As an investor at the earliest stages, I’m investing in the founding team and its ability to build a solid team. I don’t need to know the team itself quite yet.
[Slide 13] This could have been copied out of a business textbook. That’s not a good thing, because all the specifics are missing. Image Credits: NOQX
Overall, the whole pitch deck seems really vague and nonspecific, which makes me (and investors) suspicious. Is it vague by accident, and if so, will this startup be able to explain what it is doing as it is growing and evolving? Worse, is it vague on purpose, because the founders know they’re not a great fit with the industry they are trying to enter?
Take this go-to-market slide, for example. This is barely even a brainstorm; it just outlines a generic sales process. Cold calling and email marketing: Yes, but where will it find its customers? What’s the top-of-funnel? What are the conversion rates?
Investors want to know who you are, what you’re doing, why you’re doing it, and how you’re thinking about the market and building a (potentially) multi-billion-dollar company in this space. They want to know who your customers are, what their existing options are and how you’re different. They want to know how you find and reach out to your customers, and they want to know how much you’re expecting to pay to acquire a customer, and how long you’re expecting them to stay around, and at what value.
None of those things are obviously present in this deck. That means that if I were to take a meeting with this startup, I’d have a lot of very pesky questions for them, such as:
All in all, the deck looks so good, but it lacks substance. Hopefully the company can figure that out ahead of raising its next round, or it may be in for a truly nasty surprise.
If you want your own pitch deck teardown featured on TechCrunch, here’s more information. Also, check out all our Pitch Deck Teardowns collected in one handy place for you!
Geodesic.Life, a Ukraine-based startup, is challenging the traditional notions of housing by introducing affordable, eco-friendly prefabricated dome homes. This concept addresses two pressing global concerns: the need for accessible housing and the urgency of environmental preservation. By normalizing sustainable living practices, Geodesic aims to make a positive impact on both individuals and the planet. The company just closed a small, $500,000 friends and family round to bring its vision to life.
The startup’s dome homes offer several advantages. They are significantly more affordable than conventional housing options, making them an attractive choice for individuals, families and communities with limited financial resources. The homes are also designed with sustainability in mind: They are constructed using eco-friendly materials, have a low carbon footprint and are energy-efficient. This not only reduces the environmental impact of housing but also aligns with the growing demand for sustainable living solutions.
The startup shared its 13-slide deck with TechCrunch, so let’s dive in and see what we can see.
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While Geodesic’s deck impresses with its aesthetic design, featuring a tasteful color palette, appealing illustrations and a concise text, it does have some crucial shortcomings.
Geodesic’s pitch deck was quite impressive, particularly in how it connected problems with solutions, showcasing the company’s innovative approach and commitment to sustainability with solid data.
[Slide 9] A great, clearly defined beachhead market is a good way to get a toehold for your business. Image Credits: Geodesic.Life
This slide contains useful information, but it lacks some critical details about the targeted market. For instance, Geodesic has yet to identify the specific homebuyers within this sector who will be targeted first. Despite this, the presentation provides a solid overview of what Geodesic aims to capture and positions the company within national, continental and global markets.
This clear contextualization of the target market is essential because the specific focus on “turn-key prefab in the Stockholm area” is relatively modest in scope. However, the opportunity for growth is significant, which should appeal to investors.
[Slide 7] Highlighting how the company is different is a helpful starting point for conversation. Image Credits: Geodesic.Life
Geodesic did a good job with this slide. The way the company linked the problem slide to the solution slide is storytelling at its finest, and it goes to show that you can be creative on this front. Geodesic didn’t just point out a big environmental issue with traditional housebuilding; the company also showed how Geodesic’s innovative approach is a game-changer. This clear and logical flow makes it super easy for investors to grasp both the problem’s scale and the solution’s impact.
Adding specific, measurable data about the environmental benefits of the building methods is also smart. These numbers really back up the claims about reducing carbon footprints and underline the company’s commitment to sustainability. This data-driven angle not only boosts Geodesic’s credibility but also highlights the dedication to making a real difference in the construction industry. It’s obvious that Geodesic isn’t just throwing around a cool idea — it’s putting forward a practical solution with solid environmental results to show for it.
The deck has several areas for improvement beyond a nearly duplicated competition slide. Additionally, it lacks slides requesting funding and detailing the go-to-market strategy. I would like to elaborate on the following points:
The absence of pricing information on this deck hinders understanding of both the production costs and homebuyer purchase prices.
Including a pricing slide in your pitch deck is crucial for several reasons, especially when presenting to potential investors, because it touches so many parts of the narrative. Here’s why it matters:
In short, a pricing slide is not just about showing numbers but is a strategic element that communicates the viability and potential of your business model to investors. It’s an essential part of the story that convinces them why now is the right time to invest in your startup.
[Slide 8] This is a brainstorm, not a business model. Image Credits: Geodesic.Life
Closely related to the previous point: Pricing is one side of the business model, but there are many more parts to the puzzle. Geodesic doesn’t do a good job here.
The business model slide is very light on details, and the details that are there are a little confusing. It is difficult to understand the exact idea behind the flow of money through this business. However, it appears that the idea is for developers to build communities of prefabricated constructions. That’s great, but it’s not clear who the customers are for these prefabricated communities. Municipalities may be customers, as they might be interested in building social or affordable housing together with community buildings. However, private developers could also be customers, and perhaps they’re interested in building these communities for sale or rent. Without more information, it is difficult to assess the feasibility of this business model.
Having a solid business model is key to winning over investors. It shows them you’ve got a clear plan for making money and keeping the business growing over the long haul. Investors are all about seeing a good return on their investment, and a sharp business model lays out exactly how your startup will bring in cash, keep costs down and scale up.
By detailing your strategy for getting customers, setting prices and staying ahead of the competition, you’re demonstrating a smart, strategic approach to building a thriving business. This kind of clarity also lowers the risk for investors, as they can see the specific steps you’ll take to hit financial goals.
[Slide 13] Yeah, but who are these folks, and why should I invest in them? Image Credits: Geodesic Life
The team slide in a pitch deck is fundamentally important because it showcases the individuals behind the company, emphasizing their expertise, experience and ability to execute the business plan. For investors, the team’s background and cohesion often outweigh the initial product idea since a strong team is seen as capable of pivoting and adapting to achieve success, even as challenges arise. The team slide provides a snapshot of the collective skills, industry knowledge and entrepreneurial history that the founders and key personnel bring to the table. It helps investors gauge the team’s understanding of the market, their problem-solving capabilities and their commitment to the venture. Therefore, ensuring this slide effectively communicates the team’s strengths is crucial.
For Geodesic, several issues need to be addressed to enhance the effectiveness of the team slide. Including too many people on the slide can dilute the focus from key players who are pivotal to the startup’s success. Limit the slide to core team members — typically founders and key executives — who directly influence major business outcomes.
Also, listing names, photos and job titles does not provide enough context about why these individuals are uniquely qualified to succeed in this venture. Investors need to understand what each team member specifically brings to the table in terms of relevant expertise, past entrepreneurial successes or industry experience.
It’s vital to demonstrate a strong founder-market fit, showing clear reasons why your team, above others, is capable of addressing what the market needs and navigating the complexities of the industry. Include brief highlights of previous roles, startup experience and specific achievements that align directly with the goals and challenges of your current venture. This approach will offer a clearer and more compelling picture of your team’s capabilities, enhancing investor confidence in your company’s potential.
If you want your own pitch deck teardown featured on TechCrunch, here’s more information. Also, check out all our Pitch Deck Teardowns all collected in one handy place for you!
Queerie is a dating app aimed specifically at LGBTQIA+ folks. It’s a very early-stage company that’s raising just $300,000 — a round size that typically falls into the “friends and family” category.
Dating is a fiercely competitive space, and there’s been a fair amount of M&A activity over the years, so I was eager to take a closer look.
We’re looking for more unique pitch decks to tear down, so if you want to submit your own, here’s how you can do that.
Queerie shared its full, unredacted, 13-slide pitch deck with TechCrunch.
The first thing that struck me about Queerie’s deck is that it feels fresh and fun. The use of language and graphics is clean, simple and engaging. A great starting point for a consumer brand!
[Slide 3] I love a good rallying cry. Image Credits: Queerie
If you’re trying to make the world a better place, you’re probably going to attract mission-aligned investors. So why not spell out your mission front and center? It’s a powerful storytelling technique that’s well executed in the Queerie deck.
[Slide 4] That’s certainly a problem worth solving. Image Credits: Queerie
This problem slide gave me pause: It stood as a reminder that in a lot of places, isolation and mental health challenges are rife in queer spaces.
The company is positioning itself less as a dating app and more as a solution for loneliness. Whether investors will buy it and whether this app is the right solution to the problems the company identifies are separate questions. What is certain, however, is that the problem Queerie outlines is one worth solving.
I really want Queerie to exist, so it pains me to see that the way the company is pitching makes it essentially unfundable.
I see at least one dating app pitched every month, which makes sense: Dating and finding the right partner(s) is an important part of many people’s lives, and it seems like such an easy thing to do better than what’s currently out there. The upshot is that many of these startups have founders with a lot of experience in the dating world.
[Slide 10] Hello Quuties. Image Credits: Queerie
But where are the women? For a company that’s building an “inclusivity-designed platform,” that seems like a bit of an oversight.
There’s some interesting experience here, but most of the people seem almost too senior for this startup. I know that’s a rare thing to complain about, but one of the CTOs has been a site reliability engineer at Google for 18 years. That’s a very specialized job, and while scaling an app like Queerie is going to be important, I’m finding myself doubting how much overlap there is between scaling Google’s infrastructure and scaling a site like Queerie.
Overall, from reading the team’s LinkedIn profiles and what’s on this slide, I find myself concluding that they might be able to build a really good, well-functioning app with a great user experience — but that isn’t enough to build a successful company. There is a huge gap on the sales and marketing side, and there’s not a lot of startup experience across the team either. If this slide could add a seasoned marketeer with consumer marketing app experience, I think the team would be more believable right out of the gate.
I really don’t understand what this slide is trying to accomplish:
[Slide 7] Yes, that’s a dating app. Image Credits: Queerie
This slide is a bit of a waste. It doesn’t show any of the secret sauce for why Queerie is going to be successful where others have failed; there’s nothing new or innovative here.
Slides in a pitch deck should help an investor decide to invest. If someone reads the slide and it’s likely to be neutral (or even negative), it’s best left out.
[Slide 8] This isn’t really showing traction. Image Credits: Queerie
The company says it has a “closed version of the mobile app,” but this 13-slide deck doesn’t include a single screenshot of the app. The company says it has 95 beta testers, which is great, but that isn’t really “traction.” Traction would be how these beta testers are interacting with the platform. Are they paying? What are the DAU/MAU (daily/monthly active users) stats?
I’m writing this on March 31, which is the last day of Q1 2024, so I’m confused why the company says it surveyed 3,000 people in Q2 of 2024? The company also says it is planning to grow the initial user base with “strong growth” in Q3, but then says it is launching the app in June, which is in Q2. This isn’t a huge deal, but it is a little confusing.
This slide, which describes how quickly the company wants to grow, raises some red flags.
[Slide 12] This is not a startup. Image Credits: Queerie
After the first year, the company is only planning to spend $40,000 per year on app development. That doesn’t even get a half-decent part-time developer. For a company that’s a tech startup, that’s a terrifying oversight: Is the company not planning to continue to develop its apps?
The growth here is way, way too slow. Elsewhere in the deck the company says it will acquire 1,000 users in the first half of 2024, but then it’s going to hit 20,000 monthly active users by the end of the year. Then suddenly the growth drops to “merely” doubling in 2025, and doubling again in 2026. For a hypergrowth early-stage startup, those numbers are awful. Startups typically want to be growing 10% week-over-week in the early stages. If you start with 1,000 users, after a year of 10% week-on-week growth, you should be at around 130,000 users:
10% week-on-week growth with a 1,000 user basis looks like this. Image Credits: TechCrunch / Haje Kamps
Even worse, however, with the current six-year financials, Queerie is planning to do just under $10 million of revenue in 2029. That’s pretty dismal and indicates that the founders don’t have a particularly aggressive growth plan in place. Its own numbers show that it only expects about 15% of its customers to be paying $8 per month.
Elsewhere in the deck, the company says, “Our mobile app will allow us to expand to more cities as we raise more capital,” which is awesome, but the financial overview doesn’t show more fundraising happening in the business, so it’s unclear when or how much the company is planning to raise.
In a nutshell, this slide shows that Queerie could be a pretty successful lifestyle business, but I fear that no investors would go anywhere near this as an investment; it’s too unambitious, and it shows that the company’s founders don’t understand what is expected of them as startup founders.
If you want your own pitch deck teardown featured on TechCrunch, here’s more information. Also, check out all our Pitch Deck Teardowns all collected in one handy place for you!
Get ready for an electrifying showdown as the “So You Think You Can Pitch” startup pitch competition at TechCrunch Early Stage 2024 is set to be judged by an esteemed panel of industry experts. We’ve already announced the startup finalists, and now you can meet our expert judges!
Leading the charge is Edith Yeung, general partner at Race Capital, whose keen eye for promising startups has earned her acclaim as one of the most influential voices in venture capital. With an impressive track record that includes investments in Solana, Lightning Network, and Placer.ai, Edith brings a wealth of experience and insights to the judging table.
Joining her is Paris Heymann, partner at Index Ventures, whose deep understanding of software, data, and AI companies has positioned him as a sought-after adviser in the tech ecosystem. With a background that spans prestigious firms like Bain Capital and Arena Holdings, Paris brings a strategic perspective honed by years of hands-on investment experience.
Rounding out the panel is Rachel Weston Rowell, senior vice president at Insight Partners, whose expertise in organizational discipline and scaling strategies promises invaluable feedback for competing founders. With a passion for guiding startups toward sustainable growth, Rachel has insights that will be instrumental in helping founders refine their pitches and navigate the road ahead.
With judges of this caliber, the startup pitch competition at TechCrunch Early Stage 2024 is sure to be a thrilling showcase of innovation and entrepreneurial talent. Make sure you’re there! Buy your ticket now, before prices go up at the door.
TechCrunch Early Stage 2024 is gearing up to showcase the next wave of innovation. Among the standout finalists for the highly anticipated “So You Think You Can Pitch” segment are three groundbreaking startups ready to make their mark. These finalists represent diverse sectors, from social media to civic tech to sustainable energy solutions, and beat out hundreds of startup applicants for this year’s program.
First up is Ti¢ker, an exclusive social media platform revolutionizing how users engage with investment activities in real time. With its invite-only model, Ti¢ker provides a secure space for sharing and following investment trends, offering an unparalleled experience for financial enthusiasts and professionals alike.
Next on the roster is GovGPT, who has created Dragonfly: a groundbreaking generative artificial intelligence-based tactical vest with an array of vision sensors and haptics that respond to pre-assultive threats to keep police officers safer.
Rounding out the trio is ChargeBay, a dynamic platform connecting users with private charging stations and host benefits, spearheading the charge toward sustainable transportation solutions. With features such as dynamic pricing, subscriptions, and AI integration, ChargeBay is poised to revolutionize the electric vehicle charging landscape, offering convenience and accessibility to users while promoting environmental stewardship.
As these startups prepare to take the stage at TechCrunch Early Stage 2024 in Boston, they embody the innovation and entrepreneurial spirit, poised to disrupt industries and shape the future of technology. With expert feedback and guidance from esteemed judges, these finalists are primed to showcase their potential and captivate audiences with their game-changing solutions.
Xpanceo is betting big on turning us all into cyborgs with smart contact lenses, securing a cool $40 million to make our sci-fi dreams a reality. Co-founders Roman Axelrod and Valentyn S. Volkov are on a mission to ditch traditional gadgets and make everyone’s eyes the new screens. Who needs smartphones when you can blink to browse? As they push the boundaries of what’s possible with optoelectronics and new materials, one can’t help but wonder if we’re heading toward a future where losing your contacts could mean missing your next Zoom meeting.
We’re looking for more unique pitch decks to tear down, so if you want to submit your own, here’s how you can do that.
Xpanceo has shared its complete presentation deck, consisting of 19 slides, with TechCrunch. Although the slide list suggests that the team has covered everything, a closer look at the deck’s contents reveals that some areas might not be as comprehensive as they seem.
There’s a lot of really good storytelling happening here.
[Slide 2] A clear problem statement. Image Credits: Xpanceo
The presentation effectively begins with a clear problem statement, setting the stage for a focused discussion on the challenges and opportunities in the realm of augmented reality (AR) and wearable technology. This explanation is crucial, as it immediately frames the issues that Xpanceo is addressing with its innovative smart contact lens project. By articulating the problems upfront, the deck ensures that the audience understands the context and significance of the technology being developed, which is essential for garnering support and enthusiasm for the project. I love that.
The inclusion of a timeline detailing the evolution of computing technology within the presentation is particularly clever. This historical perspective not only educates the audience about the progression and milestones in computing but also situates Xpanceo’s work within a larger narrative of technological advancement — and many of those advancements made a lot of investors very wealthy indeed.
Addressing the shortcomings of AR as it stands, the presentation acknowledges that the tech has not yet achieved widespread adoption primarily due to poor product offerings that have failed to resonate with consumers. This is true, and it shows that Xpanceo is aware of the hurdles faced by previous AR technologies and is committed to overcoming these challenges.
[Slide 3] Easing into the “solution” is a great approach. Image Credits: Xpanceo
There’s a big difference between a “solution” and a “product” slide. Xpanceo’s take here is refreshingly clear on the differences.
The solution slide is strategic in nature, emphasizing a broader, more adaptable approach rather than focusing solely on the product. This strategic mindset is crucial, as it shifts the emphasis from the specifics of the product to the underlying philosophy of problem-solving.
I love that the solution is articulated in a clear and accessible way, deliberately avoiding excessive detail. This clarity is essential for communicating effectively with stakeholders, including investors, potential customers and team members. By keeping the solution straightforward and easy to understand, the team ensures that everyone involved has a solid grasp of the core concept and objectives. This level of transparency fosters trust and alignment among all parties, which is important for collaborative efforts and the overall success of the project.
From there, you can drop into the details: the product.
Again, Xpanceo does a great job:
[Slide 4] This slide draws investors in. Image Credits: Xpanceo
The product slide does an excellent job of presenting the product in a clear and engaging manner, avoiding the common pitfall of descending into overly technical language that can alienate or confuse the audience. This approach is particularly powerful given the complex nature of the technology involved.
Smart contact lenses that integrate advanced computing capabilities directly into the user’s visual field feels like magic. Still, by maintaining straightforward and accessible language, the slide ensures that the innovation can be understood and appreciated by a broad audience, which is crucial for generating interest and support among potential investors.
I particularly love how this clarity helps set the stage for deeper discussions, all without getting lost in the complex technological language that no doubt happens in the lab. It strikes the right balance between simplicity and informativeness.
This deck is really good. But is it perfect?
Nope. Let’s dive in.
What? Image Credits: Getty Images
The biggest problem with the Xpanceo deck isn’t what is in there, but rather what isn’t.
One critical element missing from the deck is the “ask” slide, which is essential when seeking venture capital funding. It’s surprising how often founders overlook this component in their pitch decks. When raising money, it’s not the time to be reticent or indirect. Clearly stating what is being asked for — be it staffing, resources or partnerships — demonstrates to potential investors a well-thought-out plan and a serious commitment to the startup’s future. This helps investors quickly understand the needs and assess whether they align with their investment criteria.
Including a specific ask in the presentation also conveys that there is a realistic understanding of what the startup requires to succeed. It shows that careful consideration has been given to how much funding is needed, what it will be used for, and how it will help the company achieve its goals. This level of detail and transparency adds credibility to the pitch and instills confidence in potential investors about the management and planning capabilities. It positions the entrepreneurs as serious individuals who are not merely experimenting but are committed to building a sustainable business.
Slides 6 and 7 make a case for both a B2B and a B2C model. That’s not a great call.
[Slide 6] A use-case brainstorm is clever, but it’s important to come up with the real use cases that drive the investment decision. Image Credits: Xpanceo
B2B and B2C business models are fundamentally different beasts. Very few companies are able to do well with one strategy, never mind both.
B2C sales are distinguished by direct interactions with individual consumers, focusing on emotional engagement, brand identity, and creating personalized customer experiences. This model thrives on short sales cycles and immediate purchase decisions, making it crucial for companies to invest in understanding consumer behaviors and crafting marketing strategies that resonate on a personal level. Even if companies occasionally purchase under a B2C model, they should be treated as consumers in the sales process to maintain simplicity and efficiency in marketing efforts.
Conversely, B2B sales involve more complex transactions with other businesses, characterized by longer sales cycles, higher transaction values, and a focus on practical benefits and cost-effectiveness. This model requires strong, credible relationships and often involves customized solutions to meet specific business needs. While it’s less common, consumers may sometimes engage with products designed for business use, highlighting the flexibility required in sales strategies. Ultimately, focusing on a B2B or B2C sales organization should align with the startup’s core capabilities and strategic goals, shaping the narrative in their startup pitch to attract potential investors.
Trying to do both won’t work, so pick one, and explain why that’s the right choice.
[Slide 9] Sure, there are a lot of contact lens users. But are they really a proxy for Xpanceo customers? Image Credits: Xpanceo
When assessing the potential market size for Xpanceo’s contact lenses, it’s crucial to differentiate the nature of the product from traditional contact lenses. Or, put differently: Is the market for Xpanceo’s product people who are already wearing contacts? The company seems to think that everyone who wears contacts wants smart contacts. But that’s probably not accurate.
Xpanceo’s offerings are not merely an alternative to spectacles for optical correction but rather function as a wearable device. This distinction is significant because the target market for Xpanceo may not align directly with the existing base of contact lens users. Instead of evaluating the total number of contact lens wearers, a more relevant metric might be the usage of related technology such as smartphones or smartwatches, which reflects a tech-savvy consumer base more likely to adopt new wearable technologies. This approach can help in identifying not just a broad audience, but also one that is more likely to embrace innovative products.
Xpanceo’s go-to-market strategy plays a pivotal role in determining its primary consumer segment. If the product is designed for mass market consumption, the strategy should focus on identifying and engaging an early adopter group. This group typically consists of tech enthusiasts who are keen on exploring and adopting cutting-edge technologies. These early adopters could provide the initial traction needed to penetrate the market, acting as influencers and validators for the broader consumer base. Their feedback is also invaluable when it comes to refining the product and enhancing its appeal to subsequent buyers.
I think the company is trying to show that its market is huge, but I doubt that contact lens wearers are a proxy. I wear contacts, but only when I’m doing contact sports (martial arts or scuba diving). But even if I had never worn contacts a day of my life, I’d be eager to try the Xpanceo solution.
I think the company is trying to compare oranges to Apple computers.
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