It’s the culminating big day for any startup accelerators and incubators! After their exciting and taxing days of business matchmaking, networking sessions, and preparations, founders can’t wait to show their projects, and the investors are all excited to see them. But what is a Demo Day? And why is it so crucial for stakeholders to participate in it?
According to Antler.co, a Demo day is an event organized by an incubator, accelerator, or VC firm. The founders of startups formed by particular organizations pitch their business to a room full of founders in the hope of securing investment. Simply said, it is a pitch event.
We’re doing the same thing here at Hub.id. Hub.id is a brand-new business matchmaking program by Indonesia’s Ministry of Communication and Information. And according to the program’s timeline, the Demo Day will take place on November 17-18, 2021. All startups competing are expected to have completed their mentoring and networking preparation, as this will be the finale of the event.
The demo day is the last chance for founders to create impressions among many other startups. Things can get pretty competitive, too, because more often than not, many startups are pitching only with brief amounts of time to impress the investors.
Here’s where things get a little more interesting. Coming from Bret Waters from an article in Medium, here’s a little tip: Don’t actually do a demo on your demo day. As simple as that. We’re aware that it’s a contradictory statement, but you are not going to show how to run your website or show if it can function like it’s supposed to or not. It will not be attractive to investors.
Instead, as the inventor, founder, you must have the attitude of problem solvers by bringing something to the table while still making money on the side (with a fantastic pitch, of course!). Now that’s what will bring investors in!
But remember, as if it all may seem, Demo day is not really the end of the journey. Quoted from entrepreneur.com, “You can also use your demo day to announce more interesting things planned for your company, or to sustain the buzz around your company.”
So, you can utilize your demo days in many ways: you can pitch, show the tricks up your sleeve, still network, and also make future plans for your startups and that makes it one of the essential days in startup accelerators and business matchmaking programs. See you soon at HUB.ID!