New Expanded Star Tank Summit
New for 2019
We’ve expanded the Star Tank event to be a regional all-inclusive event for the entire entrepreneurial community of the Roanoke Valley, New River Valley, Alleghany Highlands, and beyond.
Mark your calendar for the evening of January 16th to join us for an afternoon reception, speaker, and panel of local innovators. Thomas Osha will inspire the conversation around innovation ecosystems and the importance of expanded efforts in our region. Local innovators will share their personal stories and we’ll hear from community leaders about new innovation initiatives underway.
On the big day, we’ll kick things off with a local Keynote Speaker (top secret) who will share his own entrepreneurial journey. The Star Tank panel investors will be presenting on key getting started topics during fireside chats before we kick off the big Pitch Event. Simultaneously, high school students will be working on a problem-solving canvas and flexing their entrepreneurial skills.
Interested in applying to pitch?
For 2019, we will be carefully examining applications and inviting only those applicants at the specific request of an investor to learn more about your company. While this will likely dramatically reduce the number of presenters we have, it will allow for more time for questions and exchanges of information. You will be contacted if you are chosen to present.
The lack of an interested investor in no way indicates a lack of merit of your concept or company. We believe there is value in the process of submitting your company for presentation and it is an important step in preparing for success. Often it simply is not a fit for the interests of the investor.
All presentations must include a brief video explanation of the company. This does not have to be expensive or elaborate. Some of our best submissions have been a simple recording on a mobile phone.
How to Present
If you would like to present your idea, business plan, technology, or service and seek additional investment and resources to make it succeed, Star Tank may be a great way to get a new business started or to grow an existing business.
During the application process you will be asked to provide the various reasons why you should be selected to present to a group of carefully-vetted potential investors. You will be required to submit a brief video about your business with your application. These need not be expensive or professionally produced. In fact, a video from your smartphone is often sufficient to get your idea across.
In the weeks prior to the event, our panel of investors will carefully review all Star Tank applications and choose a number of capable, market-ready entrepreneurs to present at the Star Tank Pitch Event. We will do our best to notify you either way as soon as we can post January 4th.
To protect the confidentiality of the presentations, no audience will be in attendance and Star Tank will not be broadcast, however, there is likely to be some media coverage.
Your pitch
If you are selected to present at Star Tank, you will be asked to make a brief presentation or demonstration of your product. Keep in mind the investors will be familiar with your product through the application process.
The business pitch should be detailed and participants should be prepared to reveal projections, sales figures, strategies, and legal protections you may have in place. Don’t worry, we are here to help you and you won’t get criticized if the answer is sometimes, “I don’t know.”
You should come to the presentation with an explanation of:
- The product or service you wish to advance
- Cost projections, historic sales, and financial projections
- The market, competitors and product differentiation
- Your experience
- The current state of the business
- The exact percentage of the business you would be willing to divest and the investment you would require
Types of businesses that may be presented include:
- Established businesses
- Retail
- Inventions
- Technology startups
- Fashion
- Food products
- Service industry
- Any idea that can be translated into a viable business
Bidding
In some cases, more than one investor may be interested in investing in your business or service. You are free to choose the one you feel best meets your needs and can most effectively advance your business.
Agreements
Agreements between investors and entrepreneurs are considered to be “in principle and in good faith” only. They are not binding until due diligence is performed and proper legal documents are executed by an attorney. These costs and procedures are the responsibility of the parties involved in the transaction and should be conducted with appropriate care and vetting.
Appointments
All presenters must complete an application and arrive at least 30 minutes prior to your presentation time. All efforts will be made to accommodate your schedule. You should prepare a 5-10 minute presentation and allow for a period afterward for questions and negotiations with potential investors. The total time allocated is 20 minutes per presenter. We will be on a strict timeline and if more time is required, you can sideline a conversation with an interested investor at another time. All applicants will receive a packet prior to the event detailing the event procedure and protocol.
