An explain article

8 seconds. That is all we have left of our attention span.

Since the advent of smartphones and the like, it has only known one direction. Namely downwards. Recently, we humans have even undershot the attention span of the goldfish: a dubious record. Welcome to the age of the attention economy. Everyone wants a piece of the scarce resource that our attention has become. The crux: at the same time, we are being inundated with more and more information. A particularly plagued species among the information recipients is undoubtedly the breed of start-up investors, optionally also the jurors in various start-up competitions.

Investors do not have it easy

Many of them navigate complex thematic landscapes full of products and services that are worthy of explanation and often difficult to grasp. An interesting but also exhausting task: Because their ability to absorb and make decisions is tested over and over again. This means: listening to many investment pitches in very short intervals.

Where start-ups and investors find each other

A prime example of this is the Venture Day of the Karlsruhe IT and high-tech network CyberForum. Each year, about 15 exciting start-up companies seeking capital meet venture capitalists and business angels there. Founders have the opportunity at this event to convince potential investors to a second date in a concise 7-minute speed dating format. The seven minutes include questions and answers. Without preparation, it can quickly mean: if there is still so much pitch left at the end of the time...

Another format is the popular start-up competition Cyberchampions. The CyberForum annually rewards start-ups and companies from the IT and high-tech sectors. From young entrepreneurs in the pre-founding phase and start-ups with a maximum of two years under their belt to established companies with extraordinary development. Here too, eight finalists compete for the favor of the jury in 10-minute intervals. Whether it's analysis software for the wine industry or gesture control using wearables – the business idea, team, and potential need to be understood quickly.

To ensure that the message gets across optimally to investors and jurors and that start-ups can truly show what they are capable of, explain supports them on their path to pitch success. Every year, start-ups come to a workshop at explain to have their pitch scrutinized. They receive tips and tricks on how to further improve the content of their pitch presentation and what matters in presentation design. However, the most important thing is the practice pitch. It quickly becomes clear how demanding investor pitches and pitches in front of a jury can be.

Especially with products that require explanation, presenters easily fall prey to the "Curse Of Knowledge" and overwhelm even industry investors with overly detailed expert knowledge. Additionally, there is the challenge that enthusiastic founders sometimes overlook the difference between a sales pitch and an investor pitch. Because simply explaining the product and the customer benefit in detail is exactly the wrong way to win an investor pitch. The right approach clearly lies in highlighting the market potential and emphasizing the scalability of the business model. After all, the investor wants to know how they can grow their money.

Thankfully, after the pitch workshop, the presentation is often completely different. The founders throw themselves into revising with the collected feedback. The result is compact pitch decks with well-organized backup sections, much more concrete evidence instead of abstract technical terms, and confident companies that present themselves more interestingly and brain-friendly.