“Which incubator program should I apply to? What should my pitch deck look like?”

Written By Editors Unbuilt Labs

by Marvin Cheung, Head of Research and Strategy

There are a lot of incubators, accelerators, pitch events, hackathons etc. that can provide advice, networking opportunities, recognition, and funding. The main differentiators will be:

  • Organizer: Will it be organized by a corporation, non-profit, or VC?

  • Payment: Will you be paying cash upfront or equity to participate?

  • Length of program: How long will the program last?

  • Point of contact: Will you have regular contact with the Managing Director or advisors?

  • Benefits: Will the program offer mentorship, workspace etc.?

  • Location: Will the program be virtual or do you have to be on site? Does the program provide relocation assistance?

Before you apply to a program, we recommend the following:

  1. Do a basic Google Search and see which program is a good fit for you based on your organization maturity, needs, and industry.

  2. Create a document or spreadsheet with the eligibility criteria and application deadlines for the programs you are interested in. 

  3. Some of the programs will have office hours you can apply to. Get to know the Managing Directors and their perspectives. Was their feedback helpful? Do you see yourself working with them on a regular basis? You can also reach out to Associates, who may be more actively sourcing new deals.

  4. Talk to other ventures similar to yours eg. in the same industry. What was their experience of the program like? How did the program contribute to their success? How did the investors react in difficult situations? Do the founders feel supported? 

You should prepare a binder before you reach out to VCs or attend office hours. We recommend keeping in mind that:

  1. Investors, especially at pitch events, will see many pitch decks in one day. Keep it short: the presentation should be between 3 to 5 minutes, leaving sufficient time for questions and discussions.

  2. Ultimately, the purpose of the pitch deck is to answer the question “Why should we invest in your idea?” There are several things you want to include: the context and problem you are trying to address, your solution and business model, proof of traction and projections (if you have these), as well as your ask. For early stage ventures, there will also be a significant focus on the founding team’s ability and experience. Optimize for legibility, though beautiful graphics are always appreciated.

  3. More mature ventures should be prepared to show accompanying documents, including details of your proof of traction, financial plans, ownership breakdown, and ownership structure of intellectual properties. VCs will conduct further investor due diligence such as reference checks and legal due diligence if the deal moves forward. 

As a closing thought, pay special attention to how transparent the investor is about their investment and due diligence process. If at any point you feel that something is off, you should proceed with caution. Do not forget that bringing on an investor is a long-term business decision - a big brand name can be helpful but might not be what you need. It is also a personal decision - some people are just not a good fit together and that is okay too. The VC Guide provides anonymous reviews of investors by founders: https://www.vcguide.co/ 

Recommended readings:

Worksheets:

Editors Unbuilt Labs
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