The rewards from pitching have been many for Aaron Wittman and Troy Brown of Risk Angel. Last year Aaron and Troy were finalists in the 2016 Pitch Competition and since then they have not stopped developing, iterating and solidifying their business model.
Entering into last year’s competition allowed them the first time to showcase to a wider audience the product they had devised to assist small businesses stay out of trouble and even detect risks before they happened. Their business Risk Angel takes aim on reducing business risk and saving money for SMEs. Risk Angel analyses patterns in business data, and lets owners know when things are great and when things are at risk – before it’s too late. This is is only possible through advanced and innovative programming utilising machine learning and data mining.
The pitch allowed them to validate the idea and to test their marketing messages. Being innovative and bringing a new product to market is a tough process which is why it is critical to pitch as much as possible to different audiences and markets and find ways to survive the “valley of death” . That time for all startups where there is a high probability that a startup firm will die off before a steady stream of revenue is established.
Through being members of 6 Degrees Coworking Hub they were able to secure $25,000 in funding from the Minimum Viable Product Program of the NSW Department of Industry. With this funding they have been able to create the beta version which a selection of early adopters have been using.
Where did they find these early adopters? By entering the Pitch Competition last year, not only did they impress the judges, they showed 6 Degrees the makings of a very viable product which we are keen to showcase to others. Based on their pitch, they were invited to be part of a small crew of startup businesses that 6 Degrees supported to attend StartCon in Sydney. This opportunity put them in front of 3000 delegates in Startup Alley, networking extensively with clients, collaborators and potential investors and also included an opportunity to pitch one-on-one with none other than Steve Baxter of Shark Tank fame. At the end of this 2 day event they came away with a bag full of customer insights, contacts and a list of early adopters eager to test their product.
The have found the experience of entering the pitch competition to bring great rewards to the growth of their business and encourage others to enter Startup Coffs Coast this year. You can enter the pitch competition to win prizes, showcase your new business in the Startup Alley or just attend on the day.