At Denver’s Start-up Week in September, the Aging2.0 network hosted a panel of speakers on promoting Pilots, Partnerships, & Public Relations. The panel included moderator Karen Brown with Aging2.0 Denver Chapter, Craig Dever, Vice President of Sales & Marketing of Innovonics; Nigel Smith, Director of AARP Innovation Labs; Kris Hansen CEO of Western Home Communities & Chairman of Innovator’s Alliance; Steve Ewell, Exec Director of Consumer Technology Association Foundation; Barbara Bauer, Director of Women’s Investor Network; and Wendy Lea with Louisville Entrepreneurship Acceleration Partnership.
Panelists (l-r): Crag Devers, Kris Hansen, Wendy Lea, Nigel Smith, Barbara Bauer, Karen Brown, & Steve Ewell
The panel of speakers discussed the longevity and economy regarding new start-up ventures, when to pilot, seeking funding, distribution, acquiring partnerships, and promoting your company! Karen gave an introduction and thanked the many sponsors in promoting the class on innovation and the many entrepreneurs who attended this session.
Karen started by asking the panel on what their goal is on looking for new technologies. Craig indicated his goal is to look for new technologies that drives their main product line using wireless communications and making senior lives better.
Barbara said her focus is finding new ventures with social and economic returns, especially in health and wellness, housing and medical advances for seniors. Nigel explained his dept. looks at different topics achieving social solutions in dementia and other health issues affecting seniors. Steve, Wendy, and Kris indicated the same goals in searching for new technologies.
Karen asked about hearing new presentations (pitches) by new start-ups. All panel speakers said yes. Steve indicated at the annual Consumer Electronics Show in Las Vegas, they host a Eureka contest for the best pitch. All speakers with the best pitchers must include good solutions with a focus on Return On Investment (ROI).
Karen asked how and if partnerships are important for start-ups? All agreed most partnerships help to get products to the market faster than the two year average. Steve said it’s like speed dating to match the right partnership to achieve the best outcome. Wendy indicated due diligence is always required for any business model.
The audience asked how senior employees fit into the start-ups? Most of the panel indicated they select the best employees of all ages, but senior with the right experience are preferred. The audience asked what technology do you look at? Most of the panel indicated everything and anything that creates good solutions with the right ROI. The audience also asked how do we get the right solution to the market? Several panelists indicated having the right experienced team helps to analyze and select the right solution.
Karen asked what makes a good pitch and last words of wisdom? Nigel recommended to match your pitch to your audience category. Karen recommended bringing in multiple investors to listen to each pitch and select the best solution. Steve recommended not to focus too heavily on industry acronyms without promoting your main business model. Kris recommended being polished and be prepared for all sorts of questions. Wendy said be excited about your presentation and show differentiation of your product or service and above all, Don’t Give Up! Steve indicated to build your network of investors. Barbara recommended having more than one solution if possible.
Overall, the panel gave some great suggestions for start-ups to learn the process. Thanks to Aging 2.0 Network in presenting this topic for the Start-up Series!