Pitching Framework
We wanted to try something a bit different this time. We decided to work with fewer companies and have a shorter event. The idea was to keep investors more engaged. We noticed that two hours is very demanding for the investors and we are looking for ways to improve our events.
We kept the pitching to 5 minutes with additional 5 minutes for a Q & A session. This way we were still offering the same opportunity to the startup founders as at the previous events.
At the end of the event, we had the breakout rooms, which seems to be something startup founders and investors enjoyed and look forward to.
Startups That Pitched At The February 17th Online Event
Vegas Rose Media
Sidney Quitorio presents his startup Vegas Rose Media
Stepping into the world of top-notch cannabis accessories, Vegas Rose Media, under the leadership of Sidney Quitorio, is a diverse entity steadfast in revolutionizing the industry. The first product introduced by Vegas Rose Media was a distinctive cannabis cigar mold, launched under the Purple Rose Supply brand. It soon became clear to us that many users were not content with their short, conventional smoking sessions, but also reluctant to spend substantial amounts of money on a bespoke cannabis cigar. In response to this significant gap, we crafted our custom device known as the CannaMold. This brilliant tool enables customers to convert their cannabis into a personalized cigar that extends the smoking enjoyment ten times longer than a regular joint. Since 2018, Purple Rose Supply has been flourishing, preserving financial sovereignty, and witnessing swift expansion. In the last year, we observed a revenue of over a million dollars, with an outstanding sales record of more than 42,000 molds with a considerable profit margin of 75%. We also achieved a threefold increase and secured a substantial Instagram follower count surpassing 100,000. Our sales predominantly come from e-commerce and are directly influenced by consumers. However, our strong B2B channels also play a vital role. We are proud to have over 200 global retail partners, inclusive of 20 distributors across the US, and one exclusive distributor each in Spain and Canada. We can confidently claim that we have left a significant imprint in the cannabis cigar mold market, considerably surpassing any market rivals. Our only real competition comes from inferior 3D replicas and a company focusing on cannabis cigar manufacturers rather than end-users.
Our subsequent product was a whole-leaf hemp wrap, launched under the Native Leaf Co. brand. Through a steady stream of customer feedback and requests, we discovered that countless users were displeased smoking non-cannabis and unnatural wraps. They preferred pure, unaltered cannabis, void of any flavor pollutants. As a solution, we created a wrap exclusively made from naturally cured leaves directly from the cannabis plant, offering a genuinely natural and supreme experience. This groundbreaking development received praise for being the most delicious wrap available, reigning over all other competitors in our conducted blind taste tests.
The market is teeming with brands attempting to tackle the same problem, leading to a surge of leaf companies unveiling wraps made from various cured leaves. Concurrently, paper companies are introducing ultra-thin products to enable customers to savor cannabis in its most genuine form. The market is awash with processed hemp wraps, vastly different from our offerings as they originate from hemp processed into paper. Not one of these competitors provide natural cannabis leaf wraps, creating a unique selling point for us in the market.
After a successful pilot launch in late 2020, Native Leaf garnered intense interest, encouraging us to heavily invest in this innovative product range. By 2021, we secured reliable suppliers and re-launched towards the year’s end. Ever since, we’ve seen promising initial sales directly through an e-commerce platform using a waitlist system. We have observed a consistent increase in the waitlist through an exclusive invite-only purchase system. Seeing our production operations fully scale up, the product will also become available through the established distribution networks of our initial brand, Purple Rose Supply.
Both brands primarily serve North American & European cannabis connoisseurs aged 25 to 35, who seek a luxury smoking experience and are keen to pay for enhanced experiences. Although customer profiles for both brands slightly vary, the seasoned smoker seeking a more intense experience is a typical CannaMold consumer. This character is often a male, creative professional who appreciates hip-hop, in the same age range. Conversely, the main user of the whole-leaf hemp wrap is typically a health-conscious female of the same age who prefers purely cannabis products and wants a wrap that allows the unique cannabis flavors to stand out.
Purple Rose Supply shines as an independent and profitable brand, with all investment directed towards the growth and expansion of Native Leaf.
As a business pioneer, I bring over eight years of professional expertise as a Software Engineer in Silicon Valley, much of which was invested holding multiple positions at start-ups. This experience provided me with invaluable skills in leadership, project management, and crucial business decision-making. Our marketing operations are led by Raveena Cheema, who refined her marketing flair in Silicon Valley. Our advisory team includes industry specialist Steven Jung, formerly the COO of Weemaps, where he played a pivotal role in guiding them to their IPO. He is now serving as the COO of Pax Labs, one of the most renowned accessory firms in the industry.
Magic Kids
Anatoly Shcherbakov presnets his startup Magic Kids
- Solution
Brought to you by Anatoly Shcherbakov, Magic Kids is a groundbreaking startup that has developed an educational application using elements of both Augmented Reality (AR) and Artificial Intelligence (AI). By integrating high-level machine learning systems and AR innovation, Magic Kids focuses on both amusement and education, producing captivating and immersive learning platforms that keep children engaged for extended periods. - Marketing details
This captivating platform is just a simple download away for parents willing to pay a monthly fee, thereby providing their child with an expansive and enriching educational landscape. Several trial periods have resulted in an assortment of pricing plans. Prices start as low as $1.99 for the first month as an introductory offer, then increase to $9.99 for the following months. Extensive A/B testing has helped finalize the pricing structure, finally deciding on a three-month plan at $30 or an annual plan at $80. - Road Map
Our progress led to a significant turning point last year when we graduated from the Starta Accelerator in New York City (NYC), and we were able to launch our Minimum Viable Product (MVP). Positive market feedback encouraged us to invest further in marketing strategies, leading to us starting the process of updating the app in 2021. Following the release of the updated version, we’ve successfully completed the first financial funding round and have now begun to generate a consistent monthly revenue of approximately $2000. We have also gained our first group of subscribers. Moving forward, we plan to amplify our earnings, experiment with diverse business models in association with Sputnik ATX, and prepare for the upcoming funding round. - Team
Over the previous half-decade, our dynamic team has crafted in excess of 100 educational and promotional products using AI and AR technologies. Our skilled development team operates in East Europe, while the business development segment of our team is based in NYC. Also worth mentioning is that our team has valuable EXIT experience in the past.
K-Medical
Piyush Sheth presents his startup K Medical
We’ve all been stuck in traffic, confined in our vehicles for a prolonged period which can cause aches and pains in our backs. Now, imagine being bedridden as a patient, obligated to remain in the same position for days, weeks, or even months on end. This unfortunate situation gives rise to bed sores, also referred to as pressure ulcers, particularly on the back area.
Consider the personal narrative of Piyush Sheth, whose son experienced this very issue at a tender age of just five months. Having undergone surgery, the toddler was compelled to lay in bed for an extended duration, causing bed sores to form on the back of his head. This was primarily due to his lying in the same position while under the influence of anesthesia for around three days before and after the procedure. Piyush soon realized that this is a prevalent issue among millions of immobile individuals, whether due to disability, age, or confinement to beds or wheelchairs, resulting in bed sores due to consistent pressure.
Piyush’s company, K Medical, is dedicated to creating innovative solutions to prevent the occurrence of bed sores among immobile and aging individuals. Their breakthrough product – an alternating pressure mattress underlay, promises to be revolutionary for bed-ridden patients.
Bed sores are a significant issue in the United States, impacting 2.5 million patients annually. Alarmingly, about 60,000 patients lose their lives each year directly due to complications arising from bed sores. The treatment for these pressure ulcers incurs an enormous financial burden, costing between $9.1 and $11.6 billion annually in the US alone. The individual care cost for a patient suffering from bed sores ranges from approximately $20,900 to $151,700. Consequently, pressure ulcers are the most common subject of litigation and the second most cause of civil lawsuits alleging medical malpractice. The average settlement for pressure ulcer lawsuits stands at $250K, with some awards going as high as a whopping $312 million, and 87% of these cases rule in favor of the plaintiffs.
K Medical propels the standard of bed comfort to a new level with its groundbreaking patented mattress base that melds a foam upper layer with sophisticated adaptable mechanisms. This state-of-the-art technology can determine the timing to swap pressure areas—this could be every 20 minutes or 2 hours or over a longer duration—thus presenting a significant advance towards bedsores prevention. Achieving the functionality to adjust pressure points is effortlessly executed by this new-age system. Tapping into the inventive ability of adaptable mechanisms, K Medical makes use of stashed tension energy in order to smoothly transition from one state of equilibrium to another. The catalyst for this shift needs only to be as slight as the effort used to pull open a desk drawer and is facilitated by a lever conveniently positioned on the mattress’s side.
To ensure the wallet-friendly convenience of our patented mattress base, K Medical constructs the compliant design components from sheet metal. Utilizing techniques such as stamping or Electrical Discharge Machining (EDM), the optimal framework is cut out and put together, drastically diminishing the final product price to less than $400 per piece.
K Medical’s initiator, Piyush Sheth, is currently looking for a $500,000 investment, offering a 10% ownership share in the company in return.
Team:
Piyush Sheth, the company’s founder, comes with an impressive professional background sporting 19 years of unrivaled industry experience. His repertoire is a smorgasbord of skills, ranging from his stints as a medical device product designer and operations chief to holding a finance MBA degree.
Another integral personality in the innovative compliant mechanism landscape is Dr. Jonathan Hopkins, holding a doctorate from MIT. As a current faculty at UCLA’s department of aerospace and mechanical engineering, he has played a major role in shaping the field.
Be introduced to Dr. Karl Steinberg, a potential clinical advisor and an expert in geriatrics at Scripps Clinic, San Diego. He also serves as the medical director at a top-tier nursing facility in Ocean Side, California. His knowledge and skillset are invaluable to our mission.
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