Wed, 15 September 2021
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In pitching your business, focus on the benefits your product or service provides rather than listing out the features.
Features answer the question -- what, or what is it?
Benefits answer the question -- why, or why do you want it?
In pitching your business, go beyond the features of the product to show why customers need it.
To capture the benefits, start with the pain the customer feels.
If your customer has too many to-dos on their schedule, then pitch your product as a simpler schedule.
If your customer lacks knowledge in a subject, then pitch your product as mastery over the subject.
If your customer has low revenue, then pitch your product as finding more customers and generating more revenue from existing customers.
Start with the pain point to determine the needs and then show how your product supplies those needs.
Once you’ve captured the audience’s interest, you can dive deeper into the features.
Lead with the benefits and follow up with the features if needed.
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Music courtesy of Bensound
Wed, 15 September 2021
In this episode, Hall welcomes Dr. Neal Vail, angel investor and Chief Technical Officer/Co-founder at Progenerative Medical.
Progenerative Medical is a pre-commercialization stage medical device company focused on expanding clinically proven reduced pressure therapy into spinal and orthopedic indications. Their initial clinical application is to significantly improve clinical outcomes and satisfaction in patients undergoing spinal fusion procedures, a new annual revenue opportunity of $1.6B in the US market. They have the opportunity to expand the clinical use of their product into other orthopedic indications such as trauma, joint arthroplasty, and revision surgeries, all significantly larger markets than their initial indication.
Neal has 25+ years of medical device and pharmaceutical product R&D and commercialization experience. He has held positions of increasing technical, program management, and organizational leadership responsibilities at NEC America, Inc., DaimlerBenz Central Research, Southwest Research Institute, and Kinetic Concepts, Inc. Neal has assembled cross-functional teams to develop and execute successful product development programs funded through corporate, private and public stakeholders. He has experience in M&A and technology licensing. Neal has been an angel investor for about 15 years, reviewed 100s of investment opportunities, and invested in several startups. He has been a business strategy and technology advisor to several medical device start-ups. Neal graduated from UT-Austin with a Ph.D. in Chemical Engineering and has business training from the Sloan School at MIT.
Neal shares with Hall what led him to start working in the medical device and product development space. He discusses the state of startup investing, its evolution, and some of the challenges entrepreneurs face.
Music courtesy of Bensound.
Direct download: Neal_Vail_Angel_InvestorProgenerative_Medical_Inc.mp3
Category:general -- posted at: 6:00am CDT