On March 22, Shop.co had the pleasure of attending Captivate Silicon Valley, a gathering of forward-thinking German tech startups. At #CaptivateSV, each startup pitches their idea to an audience of investors and fellow entrepreneurs. We are proud to announce that among the group of amazing startups, Shop.co was the winner. The proof is in the pitch!
Hosted in HanaHaus, an old movie theater turned entrepreneur-workspace-heaven, the Captivate series is hosted each year by GAccelerator. This programs assists German startups with immersing themselves into the US market and gaining traction. Shop.co pitched among other German-based startups including FitAnalytics, GYANT, ScoutBee, Cadami, and Cindicis. Attending pitch events like this one “helps [Shop.co] to know what investors are looking for. It is also a great stress test for our entire business model, and allows us to gage ourselves next to the competition,” says Jay Habib, CEO.
So how does this all work? Each startup is allotted a 5 minute pitch, followed by a 4 minute Q&A. Three judges from globally-oriented venture capital firms moderate, but it is the audience that makes the final pick. In Shop.co’s pitch, Jay discussed the competitive advantage of Shop.co’s automation technology, and the main goal of user growth for the coming year.
Captivate’s judges observed that Shop.co’s dream is “very visionary, yet risky”. Well if you’re not scaring yourself, you’re doing something wrong. Right? After the six startups finish pitching, the audience is asked to vote for the company they would choose to invest in. We are thrilled to say that we won the 2017 Captivate Silicon Valley, despite being in earlier stages than some of the other competitors.
We don’t win prize money, or another round of investing. We don’t gain national fame. So why do we attend these events? “It is an amazing reminder that we have a compelling product, with so much potential in the current market,” says Jay. “And it is helpful to see how important traction is to investors, above all else. Traction hedges risks. So if we can continue to grow excitement and retention among our users, we are on the right path.This was our first pitch in the US, and it was a great start. We’ll see how it continues as we move forward!”
Thanks to GAccelerator for hosting this year’s Captivate Silicon Valley! It was a pleasure to participate.
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