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  • 3 months ago
Meet Erika and Antonia Ginsberg-Klemmt, founders of Gismo Power, a portable solar charging station.

In order for a pitch to succeed, it needs to pack in a lot of information in 60 seconds: the problem the business solves, its valuation and traction, who the founders are, and what the ask is.

What shouldn't be included in a pitch? An insult to the investors you're pitching, as one contestant team quickly learns.
Transcript
00:00I'm Antonia, CEO of Gizmo Power.
00:05And I'm Erica, VP of Operations and Tony's mom.
00:10Being raised on a sailboat, I experienced how solar can generate enough electricity for all our needs.
00:15That's why I patented the Mobile Electricity Generating Appliance, or MEGA,
00:20a plug-in solar carport that shades and charges an EV while powering a home or business.
00:25Today, we're asking for a $100,000 investment for 8% of our profits until you receive back $150,000.
00:34Gizmo Power, solar on wheels coming to your driveway.
00:41I'm so confused. What was the ask?
00:43Well, at $100,000, we get paid back $150,000.
00:47That's insulting. We're investors. We're here to make money.
00:50I will say, I do think there's a real need for innovation within alternative energy.
00:55And it sounded like there was some science behind this, although they didn't really get into it.
00:59I actually love the mother-daughter combo, but I'm still stuck on the ask.
01:03Yeah, that was unique. That was different. Instead of just asking for equity.
01:07I'd say I'd be curious to learn more if maybe there's a different ask we can get them to.
01:12You don't need our money. $100,000 is nothing. You can go get that really easy and alone.
01:22How about let's see you deliver?
01:25You know, the 17 units you have and they come back to us.
01:29I think that's fair. You know, then we can give you more money to scale faster.
01:35So for that, let's pass for now and prove me wrong.
01:39Sounds great. We're happy to have been here and to show the world that this is possible.
01:45I hope you find it cool.
01:46It's so amazing. We are very impressed.
01:49Thank you so much. Good luck.
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