After an inspiring talk from Bessemer Partner Adam Fisher, last night we presented our financial projections and sales models to venture capitalists. This was our last preparatory presentation before making our full sales pitch to a panel of Israel's top venture capitalists next Thursday night. In order to make a proper fundraising pitch, we've spent the past seven weeks building up to this point. From week to week we've studied and pitched on all aspects of our venture, each pitch building on the lessons learned the week before.
Seven weeks ago we started with our technologies and thought outside the box to build commercial applications around them. From there we developed an understanding of the potential market sizes that our businesses could address and how our business models fit into them. After understanding our markets, we heard from guest lecturers and then made our own presentations on the intellectual property on which our business are built and how to best protect and leverage it in our ventures. At this point, we began to drill down to specific business-level aspects of our ventures, ranging from research and development plans, our value chain location and how to address the needs of our potential customers and partners.
In the last two weeks we've focused on the final steps of commercialization: the go to market strategy, marketing activities and our sales plan. These specific actions allowed us to finally put financial numbers and projections behind our pitches and demonstrate not only how much money we stand to gain, but also how much funding we need to raise to get there. With one more week to synthesize everything we've done and build a fundraising pitch to real investors, we have our work cut out for us.
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