Questions

Investors on the East Coast and West Coast are polar opposites. It's a generalization, since there is variation within those regions as well, but here are a few generalizations to help you play to your audience.

BAY AREA: Big ideas (with some foundation under them) win, the kind of ideas that can produce 1000x+ returns. If the space is going to be owned by whichever company gets to market with a good product first and/or the value will be in billions if they own a huge market (think SnapChat).

PHILLY/NYC/ETC: Great for biotech. For SaaS and other tech, focus less on "hottest" innovations and more on how to displace industry leaders in big markets (like SalesForce) with something that is simpler and solves a major pain point in a way that the industry leaders do not.

IMPORTANT: Regardless of which region you plan to raise funds in, ignore what's "hot" and focus on where you have unique insight and experience. If you are an engineer, try Internet of Things or a startup catering to some engineer-heavy industry you're familiar with. If you're a doctor, don't try to start a social network for teens - start one for patients and their family/friends (another hot space), or something else highly related to your experience. If you have credibility in your space, your odds of success are MUCH higher, and therefore investors will be more eager to invest in you.

If you want help identifying the right investors and creating a pitch deck that doesn't get thrown in the trash, schedule a call and I'll sign an NDA if we end up getting deep in the idea together.


Answered 5 years ago

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