The Jeremy Shum Invent Company – Business pitch

VC Business Video Pitch by The Jeremy Shum Invent Company As apart of the Australian version of the MIT $200K Challenge, entitled the “APAC eChallenge”, we were required to draw up a business plan, and provide a business pitch.  A copy of the business plan can be Jeremy Shum Business Plan. Mike Harris, Founder & Principal (Harcon LLC), “That was awesome! I have never seen a ‘video pitch’ but surely it’s an idea whose time has come, so you’re spot on with your approach. Jeremy, I am very impressed with the professionalism of your team and the studio quality of the production. You all have done an outstanding job.” Mr. Harris has a BS (University of Tennessee) and MBA (Vanderbilt University). Dr. Edward C. Cheng, Director (Oracle), “I think this is really, really great. The clip captures me for the whole time. I didn’t think I would get beyond 10 sec and yet I watch the whole thing … I think you’ve got yourself a great team and a great start. This is a fundable project. Congratulations for a job well done … if you show this video, it tells it all already. Great work. You should be able to close some funding.” Dr. Cheng has a BCompSci, MBA (Columbia, UC Berkeley), PhD (University of London). Joanne Zucco, Lecturer (University of South Australia), “Looks good Jeremy! Well done!” Ms. Zucco has a BCompSci(Hons) and is completing her PhD. To be innovative, rather than doing a traditional pitch, we showed a video, along with a 2.5 minute introduction and conclusion.  Longer than a traditional “Elevator Pitch”, the pitch was meant to not only interest the VC, but also provide good quality information about: • The Need • Our Solution • The Market • Our Team • To The Future Furthermore, VC’s were provided with additional time where they could ask questions which were unanswered during the presentation.  The questions they asked included: • What is your competitive advantage over QuickBooks?  Input screen is touch-screen compatible, which is quicker.  Engine technology is powerful AI backend that uses patent-pending technology which converts collected “data” into “information”, reducing work load.  As a result, the business manager will receive better output. • What is your market strategy?  Via business radio, television, magazine segment advertising, marcom and publicity. • How do you estimate your financials?  We have used a bottom-up “market pull” costing (i.e. costing from the point-of-advertising to the point-of-sale), which uses Google AdWords ROI.  The calculations are included in the notes to the business plan. • What are your distribution channels?  Over our Internet store (very popular among business people), and by M2, via retail stores. • What is the corporate structuring?  chikpos is a wholly owned subsidiary of The Jeremy Shum Invent Company.  If A VC were to purchase a minority ownership of chikpos, the ownership restructuring would attribute, say 30% to the VC, and the residual, 70%, to The Jeremy Shum Invent Company. Any comments?  Please e-mail concierge@chikpos.com! ©2009 The Jeremy Shum Invent Company