Are you Ready 2 Pitch? (R2P)
Written by Impact Hub San Salvador | As part of their #ImpactonTour Social Media Takeover
Where Start-Ups meet investors, business partners, and customers
At Impact Hub San Salvador, we are a community first. Through our carefully hosted space, we offer opportunities for investment, training, networking and provide solutions for innovation and sustainability within the entrepreneurial sector. Impact Hub San Salvador launched last February, a new program called Ready2Pitch. Ready2Pitch is a one-month training program focused on coaching social entrepreneurs on how to find investment. It culminates with a stellar event that aims to connect participating start-ups with potential investors, corporate clients and end-user consumers.
What is Ready2Pitch?
Ready2Pitch (R2P) is an annual event held in San Salvador that connects local entrepreneurs with national and international corporate partners and investors. The R2P platform was created out of the need to stimulate the local economic sector by helping entrepreneurs to find potential investors and to increase the exposure of their products and services. R2P gives investors access to innovative solutions, stimulates national investment and can help reduce the wealth gap by empowering and providing growth opportunities to the upcoming middle class.
In its first year, R2P received 100 applications. 48 start-ups were carefully selected to present their commercial or investment pitch at the final event earlier this year. This resulted in 82 private business meetings between participants and investors and two immediate investments of more than $50,000. 400 people came to see the event. It’s safe to say that it was a great success!
Technology is the focus of this November 2019 edition
Technology has become indispensable. It influences our lives every day by providing tools, resources, and knowledge that resolve problems at scale, beyond human capabilities. Entrepreneurs who work in the fields of cybersecurity, health tech, educational tech, fin-tech, retail tech, smart cities, collaborative economies or other innovative technological solutions are highly sought after. Therefore, the focus of this edition was on finding technological solutions within the entrepreneurial sector. Start-ups who want to participate need to provide scalable solutions using advanced technologies that cater to the national or international market.
How the application process works
After the application phase is over, 45 start-ups have the opportunity to participate in a 1-month training course. During this month they learn how to identify and understand the needs of investors and corporate partners. Start-ups present their commercial and investor pitches and receive feedback from a jury of professionals from the legal, financial and tech sectors. The last phase consists of the selection of the 30 best entrepreneurs who receive a slot to pitch at the final R2P event, which took place on the 29th and 30th of November 2019. The event was open to the general public. Besides being a platform to showcase innovative start-ups, it provided valuable content from the tech industry through panel discussions, keynote speakers and product launches.
What happened during the event
Before the main event, an investor networking cocktail took place on the 28th of November. Investors got an early preview on what would come during the next two days. On the 29th of November, the event kicked off with a press conference, followed by keynotes of professionals from the tech sector and 5-minute pitch sessions by participating entrepreneurs.
On both days, start-ups and investors were able to connect in mix and match meetings, where entrepreneurs received the opportunity to have one-on-one discussions with investors and business partners.
In the past, investors and corporates used to look for investment opportunities abroad, to ensure a more stable investment return, whilst missing opportunities right at their doorstep. Due to this non-existent local investment climate, R2P is filling the gap by creating a platform where entrepreneurs can find training, widen their market reach and meet potential investment or commercial opportunities. Impact Hub San Salvador aims to be a leader in launching scalable connective solutions such as R2P, a program that can be easily scaled and used by other Impact Hubs around the world.
Impact Hub San Salvador did a #ImpactOnTour takeover of the Impact Hub Global Facebook and Instagram channels from the 27th to 30th of November. Head to our Social Media Channels to get a sneak peek into their unique location, community events, and impactful programs.