Evolution of the Elevator Pitch Analyser
We were working on a way to score startups and looking for data. We had gone to a number of startup events and asked people to try our system for free because we needed 1000 entries of data. Then after an AI conference in the Twin Cities I rang my partner and asked him to take a look at external data sets that might be out there. This was after seeing this image on a presentation and taking seriously the top right quadrant.
Then when I’m coming out of the talk my partner text me the following:
- [11:15 AM] Holy crap dude. Have time for a call?
- [11:16 AM] $14 billion
- [11:16 AM] I have a database of how 14 billion was invested in the US
- [11:17 AM] Max investment was $1 billion
- [11:17 AM] Actually it’s $200 billion worldwide.
We then got to talking about how we could use this data and the first thing that became obvious to us was the correlation between the elevator pitch and it’s effect on investment. Sorta like a first impression. So, as the tool evolved from there I wanted to track, for transparency sake and the love of a good adventure, how this evolved.
First we have some rough data on Profile Completeness.
Then we noticed that their scoring system sucked
Then we looked at years founded vs investment
That’s when we started running NLP against elevator pitches to see if there was any correlation to the amount of investment they raised. There seemed to be a pattern so we dove in more. Maybe we could build a tool to help founders craft pitches.
Some comic relief along the way
Looking at the length of the pitch vs the amount raised showed some interesting patterns as well.
- Most of the pitches were at least 100 characters long
- It looks like the dataset has pitches over 200 characters sliced off, so pitches in the 250 range might also have been present.
- Not much difference between the length of the pitches that raised thousands, and the pitches that raised millions.
With the evolution of AI models and people asking for more transparency on how they are built we wanted to provide this play-by-play. That’s it for now and we will update this as we go along with more plans to come.
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