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As a startup it's your job to convince investors about the size of your market. When a FoodTech startup or FashionTech startup pitch to investors they don't ass
by ig1 12y ago
As a startup it's your job to convince investors about the size of your market. When a FoodTech startup or FashionTech startup pitch to investors they don't assume the investor will have an in-depth knowledge of their market, they have to demonstrate through data what the market-size is.
You can do this top-down (what's the size of the market for iOS-to-Android porting by agencies servicing line of business apps) and bottom-up (you spoke to 50x agencies in this market; 40% want to buy your product and were willing to pay X). But you need to have evidence to back your claims.
You can very easily explain what your product does without having to go into deep technical detail. Use your story to explain it: "Converting iOS apps to work on Android was costing us around 150k a project; we've built a product that allows us to bring the cost down to 20k by automating away most of the work. We now want to bring this technology to other agencies."