Week 15: Intellectual Property and Fundraising and Pitch Deck Contents

INTELLECTUAL PROPERTY


    In the 15th week of technopreneurship, we tackle the intellectual property and pitch deck contents. Intellectual property refers to the creations of the mind, such as inventions; litarary and artistic works; symbols, names, and images. When learning intellectual property, it did not come as a shock to me as I have a separate subject in Computer Engineering entitled, "CpE Laws and Professional Practices". In that subject, we tackled the republic act of 8293, which is known as the Intellectual Property Code of the Philippines. Moving on, the main objective in protecting intellectual property is to promote innovation and creativity, and to protect market integrity and product positioning. 

    When discussing about intellectual property, it is important to discuss also patents. Patent is an exclusive right granted to owners by the government for a period of time in exchange of the full disclosure of their invention. When filing a patent, there is a term of protection for 20 years. Furthermore, patents are territorial, meaning that they only apply in which country you filed a patent for. 
   
    In our CpE Laws, one thing I did not fully understood was the difference between a patent and a utility model. Utility models are technical solutions of a problem in any field of human activity which is new and industrially applicable, and shall be registrable. Here are the major differences between the two that I've learned:

   UTILITY MODELS vs PATENS

  •  In patents, applications are published with search report after 18 months, whereas utility model are published 2 months prior to issuance of certificate.
  • Patents require substantive examination, while utility model do not.
  • Patents require an inventive step, whereas utility model do not
  • In Patents, protection term is 20 years, and utility model 7 years from the filing date.
    Understanding Intellectual Property is essential for heartseekers, and for each members. For heartseekers, because there might be contents of the product in our startup or the product itself might strike similarities to existing products, which can result in copyright. For each members, because if ever one of us pursue a career of entrepreneurship, we can make informed-decisions whenever creating a product for a startup. 

PITCH DECK CONTENTS



           Creating a perfect pitch is important as it is an opportunity for investors to lend money for your startup product. There are three types of pitch, which are elevator pitching, which only lasts for a minute; a short form pitching, which lasts 3-10 minutes, and long form pitching, which lasts 20 minutes. 

    In creating the perfect pitch presentation, the first essential thing to do is to formulate your story The presentation that you present is the story of your company. The story that you created should take the audience in a journey that takes them from unknown to known. The bottom-line is that context is everything. I learned that in preparation for the presentation, we must make sure that the presentation speaks to all level, by educating those who know nothing about our company, and by keeping the interest of those who know a lot. In creating stories, the simplest stories excel, the best stories travel to the word of mouth. 

    There are three main ways to order a story:
  • Problem Solution
  • Market Shift
  • Team
    This is called narrative arcs, which aims to create an intriguing storyline.

    The strategy is called the problem-solution strategy or the standard arc. This strategy aims to begin with a hook, by convincing the audience of a problem, followed by introducing them the solution to the problem. We need to show them how the product works,and prove them how big the opportunity is. Also, show them that the timing is right, and give them the confidence that we are the right team for this challenge, which should follow to an exciting step.

    In presenting the pitch deck, it is recommended to follow the 10/20/30 rule, which means that the presentation should have 10 slides or less; no more than 20 words per slide; and 30 point font size.

    The recommended "perfect" pitch deck should have the following components:
  1. The Problem - This aims to answer the question, What is the problem that your product or service is really solving?
  2. Solution - This aims to answer the question, What is your solution to the problem? Is it a website? A mobile app? We need to present the solution clearly.
  3. The Product - How does your product work?
  4. Target Market - This aims to determine how big the market is. It is recommended to present the TAM (total addressable market), SAM (Serviceable available market), SOM (Serviceable obtainable market).
  5. Traction.- As discussed in the previous blog, traction is important, as failed products are usually caused by not having enough customers
  6. Revenue Model - How do you make money?
  7. Competition - As discussed in the previous blog, a competition validates your product, and implies that you really are solving a real problem.
  8. Team - What makes your team the right team for this challenge?
  9. Ask - Ask the inventors how much money that you want them to invest.
  10. Summary- What do you want them to remember
    With these things in mind, the heartseekers can make informed-decisions for the final pitching deck and make them be ready to present and pitch our startup idea 

Comments

Post a Comment