If you didn’t attend last week’s Ohio Venture Association’s Venture Capital Summit III last week at Corporate College East, you missed a great event.  Panels included a conversation with leading Northeast Ohio angels, representatives of three VC firms that have recently set up shop in Northeast Ohio, and a panel on how to present to VC’s.

The last panel was especially interesting as Jerry Frantz, an EIR from JumpStart, was tapped to “present” to three area VC partners.  The presentation was a real proposal for funding, courtesy of an area entrepreneur.  What was interesting was that at any time during the presentation, you could yell “freeze” and ask any of the VCs a question.  It was fascinating to hear what actually goes through their mind during one of these presentations. 

There were lots of great suggestions and tidbits throughout the morning, but two really stuck out.

First, a VC partner was asked what he looks for in the “30 second elevator speech”:

1. Does the technology work?
2. How good is the jockey?
3. Is there a clear path to market?
4. Can you sell it, and when?

Keep these points in mind not only in the elevator, but in your presentations as well.

The second gem may be a bit self-serving, but a recurring question throughout the morning was how best to get a proposal in front of a partner for consideration.  Cold-calling and unsolicited E-Mails were confirmed by the panelists as not effective.  The answer that was given time and again is that proposals that are forwarded to VCs from trusted partners are assumed to be worthy of closer review.  The review may not end up in funding, but if you want a shot, work through a trusted partner like NEOinc.