Neil Mason has investors lined up and ready to spend on the right startup next week. The co-founder of Inventure Works, a Lafayette firm that bridges the gap between innovators and investors, is one of six judges who will preside over SeNSE’s High-Stakes Pitch Night during Baton Rouge Entrepreneurship Week.
The Shark Tank-style event connects regional startups with some of the areas biggest investors, giving them five minutes to pitch their company in hopes of attracting investment.
“We’re all on the same mission: trying to put Louisiana on the map as far as entrepreneur activity,” Mason says. “California and others areas have a lot of venture capital and investing going on. We’re looking to put some large deals together so people around the country know about us and people looking for funding and places to do startups consider coming down here and getting it done.”
This year’s event is on track to surpass last year’s Pitch Night, where judges pledged some $400,000. Some 25 companies are in contention; judges are in the process of selecting three to six finalists who will actually compete on Pitch Night.
In addition to Mason, those confirmed thus far to sit on the panel of judges this year are: Bill Borne, founder and CEO of Amedisys Home Health & Hospice Care; Eiad Asbahi, managing partner of Prescience Investment Group; Nanette Noland, president of The Powell Group; Mark Graffagnini, managing member and co-founder of Graffagnini & Associates; and Ken Jacob, president and CEO of Cajun Industries.
So what’s the secret to pitching—and winning?
Organizer Christi Domingue-Rangel says judges typically take a hard look at the valuation and revenues of a company, as well as whether it has other investors already on board. “They generally don’t go for a company that is just an idea—they want to see someone with a track record,” she says. “They’re also looking for the ‘it-factor'”—someone who has charisma and can really sell them on the company.”
Competitors also have a chance to wow the crowd: Each person in the audience will be given a token to invest a portion of their ticket price in the startup of their choice.
The event is scheduled for Nov. 20 at the Hilton Capitol Center. Doors open at 6:30 p.m. for a lightning round in which audience members can get feedback—sans investment—for their own pitches; the actual competition begins at 7 p.m. Tickets are $20 per person and can be purchased online at sensehighstakespitchnight.eventbrite.com or at the door. For the full BREW schedule, go to celebrateBREW.com.
