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ETEC 522 – Ventures in Learning Technologies
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A#3. Venture Pitch – MiloGLASS™ (improved)

By mzivkocms on August 3, 2014

Hello everybody,

I chose to focus on my real venture, that I see as highly feasible, so I am going to pursue it as soon as possible, either using crowdfunding on Kickstarter, VC incubators or else, to get some financial injections, essential for the fast take off.
During my research on this A#3 matter, I spent many hours and really updated myself on the current state of Wearable technology worldwide and especially, the most appealing – AR glasses. After the Google Glass 2 launch in May 2014, I was wondering why Google set the price too high ($1500 US, even 1000 GBP) when the manufacturing costs were documented to be less than $80 US, and even though I knew that Google spent a lot on Google Glass 1 and 2 product research and development, it seemed unreal that they were asking too much, so I tried to figure out and fully understand the reasoning behind (risky) setting their price too high? I even asked myself why they needed that high profit margin (almost 20 times) that can potentially repel the majority of buyers, so I saw the gap, problem and potential solution, and asked myself “I have background in computers and microelectronics, so why don’t I research the AR glass technology and see if I can come up with the design of the cutting edge AR glasses, for less than the half of the price”, so I did. I researched the competitors and worldwide markets, latest emerging technologies, and even designed the first line of the AR  glasses, drafted the tech specs, armed it with the latest available (cutting/bleeding) edge software/hardware technologies and really decent features, and set quite affordable price, where I can still profit well (more than two and half times). Now, it is ready, to take off, so I continue with the team recruiting and building, and just need crowdfunding and/or VC investor support to take it off.
I researched and studied the technology and art behind venture pitches a lot, and among the most appealing pitch strategies to consider, chose the real gurus Nathan Gold and David Rose, and considered practicing and employing their strategies that ultimately helped me to make a real and awesome pitch, so I believe I succeeded, and you’re here to analyze it and confirm.

The new and improved pitch is delivered in a real presentation environment, like in the front of most popular and picky world VC investors. (Did you realize that I was trembling and shaking during the pitch).

I bet you’ll like it and become one of my customers, investors, if not a part of my team. I recommend to enjoy the MiloGLASS™ ELITE model of the line 2, shown on the picture below!!

Thank you all for your valuable suggestions, that helped me reconsidering the pitches delivery.

I highly appreciate your EVA suggestions and completely agree, so I decided to fix the pitches. 

 

I did overhaul of both, the elevator and the pitch, and this time, I think I finally nailed it.MILOGLASS Standard-crop

Here is my new and improved A#3 MiloGLASS™ Elevator pitch, available on YouTube here:

YouTube Preview Image

and the new and improved A#3 MiloGLASS™ Venture Pitch, available on YouTube here:

YouTube Preview Image

I am lucky and grateful to be a part of this exceptional MET community of learners and practitioners that well support each other on their learning paths, for the ultimate advancement of all.

Thank you all for helping me to learn and grow. I believe that every next overhaul will be even better.

Enjoy!

Best Regards,

Milorad

 

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7 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

REVIEW: Hi Milorad, as others have stated, I liked the way that you did your pitches like an actual presentation; however, I also agree that some of your slides are a bit text-heavy and they should probably be streamlined a bit. It is obvious that you have done your research, but generally the reason why consumer technological products (iPhones, iPads, Google Glass) have such high initial prices is to recoup the costs of R&D; they target early adopters who are generally willing to pay a premium for being the 'first of their friends' to own the product. As Jonathan stated, you have some very serious competitors with extremely deep pockets; if your product ever became a viable threat, they could quickly undercut you and run you out of business. RECOMMENDATION: I think it's a nice idea, but I wouldn't invest in it because you're going up against a large, powerful competitor that could sink your product very quickly.

7 Aug
0 Thumbs Up!
cwc1 @cwc1

REVIEW: Hi Milorad, as others have stated, I liked the way that you did your pitches like an actual presentation; however, I also agree that some of your slides are a bit text-heavy and they should probably be streamlined a bit. It is obvious that you have done your research, but generally the reason why consumer technological products (iPhones, iPads, Google Glass) have such high initial prices is to recoup the costs of R&D; they target early adopters who are generally willing to pay a premium for being the 'first of their friends' to own the product. As Jonathan stated, you have some very serious competitors with extremely deep pockets; if your product ever became a viable threat, they could quickly undercut you and run you out of business. RECOMMENDATION: I think it's a nice idea, but I wouldn't invest in it because you're going up against a large, powerful competitor that could sink your product very quickly.

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7 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

Thanks for your valuable feedback. I did consider your suggestions, and overhauled the elevator and the pitch. Please revisit and post your valuable impressions. Thanks in advance. Regards.

7 Aug
0 Thumbs Up!
mzivkocms @mzivkocms

Thanks for your valuable feedback. I did consider your suggestions, and overhauled the elevator and the pitch. Please revisit and post your valuable impressions. Thanks in advance. Regards.

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7 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

Thanks for your valuable feedback. I did consider your suggestions, and overhauled the elevator and the pitch. Please revisit and post your valuable impressions. Thanks in advance. Regards.

7 Aug
0 Thumbs Up!
mzivkocms @mzivkocms

Thanks for your valuable feedback. I did consider your suggestions, and overhauled the elevator and the pitch. Please revisit and post your valuable impressions. Thanks in advance. Regards.

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7 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

Feedback: Hi Milorad, I think you chose a creative way to deliver your pitches. I appreciated that it felt like an actual presentation/pitch delivery. I believe its evident that you have done your research and are well knowledgeable in the field. You've also done an excellent job of making sure you've covered all your points that an investor would be looking for. As many people have pointed out some of my thoughts already, I'll avoid repetition. The only advice I would have to give is that on some of your slides they are quite text heavy and bit difficult to read through the video.

7 Aug
0 Thumbs Up!
courtneyoc @courtneyoc

Feedback: Hi Milorad, I think you chose a creative way to deliver your pitches. I appreciated that it felt like an actual presentation/pitch delivery. I believe its evident that you have done your research and are well knowledgeable in the field. You've also done an excellent job of making sure you've covered all your points that an investor would be looking for. As many people have pointed out some of my thoughts already, I'll avoid repetition. The only advice I would have to give is that on some of your slides they are quite text heavy and bit difficult to read through the video.

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6 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

Feedback: Hi Milorad,This is a great idea! I agree with Jonathan that that advertising could present a challenge, but that with the right marketing you could be successful. As an investor, it would be helpful to see a prototype to understand how your product works, and what makes it worth the investment. Although it was interesting, and comprehensive, your venture pitch was on the longer side, I think going forward it would be helpful to keep things more concise and to speak directly to the audience. Overall - this is a great idea, and I wish you the best of luck going forward!!

6 Aug
0 Thumbs Up!
jennypapadakis @jennypapadakis

Feedback: Hi Milorad,This is a great idea! I agree with Jonathan that that advertising could present a challenge, but that with the right marketing you could be successful. As an investor, it would be helpful to see a prototype to understand how your product works, and what makes it worth the investment. Although it was interesting, and comprehensive, your venture pitch was on the longer side, I think going forward it would be helpful to keep things more concise and to speak directly to the audience. Overall - this is a great idea, and I wish you the best of luck going forward!!

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6 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

Feedback: This is interesting and I can see you have done your research. I wonder if you offer anything unique that Google glass does not? I am also wondering (not knowing much about it) if your glasses will be compatible with apps for the Google glass. As I see the market in Android vs. Apple etc. for cell phones, I wonder if these glasses will be compatible with the software. Certainly one of the biggest reasons that Google glass is not everywhere is because of the price and I can see that you really understand that. Perhaps the price and compatibility and available apps would be good for the elevator pitch as well. Good luck!! Great idea.

6 Aug
0 Thumbs Up!
danielle @danielle

Feedback: This is interesting and I can see you have done your research. I wonder if you offer anything unique that Google glass does not? I am also wondering (not knowing much about it) if your glasses will be compatible with apps for the Google glass. As I see the market in Android vs. Apple etc. for cell phones, I wonder if these glasses will be compatible with the software. Certainly one of the biggest reasons that Google glass is not everywhere is because of the price and I can see that you really understand that. Perhaps the price and compatibility and available apps would be good for the elevator pitch as well. Good luck!! Great idea.

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6 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

FEEDBACK - Hi Milorad, I applaud you efforts. The biggest challenge I see with most products that sell for cheaper than popular brands is in the marketing and advertising. People tend to view “knock-offs” as lower quality (which isn’t alway true). If you could get reputable organization such as consumer reports to positively review your product then I think that will be a huge boost for your company. As an EVA, I would want to make sure that you can make a profit and stay competitive for years, and not just going to be a copycat company that might sell the occasional pair of glasses and eventually disappear. Good Luck!

6 Aug
0 Thumbs Up!
Jonathan Lai @jlai32

FEEDBACK - Hi Milorad, I applaud you efforts. The biggest challenge I see with most products that sell for cheaper than popular brands is in the marketing and advertising. People tend to view “knock-offs” as lower quality (which isn’t alway true). If you could get reputable organization such as consumer reports to positively review your product then I think that will be a huge boost for your company. As an EVA, I would want to make sure that you can make a profit and stay competitive for years, and not just going to be a copycat company that might sell the occasional pair of glasses and eventually disappear. Good Luck!

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5 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

FEEDBACK: This was a really interesting product, and as an EVA I could see that you are knowledgeable about your product. I do have to agree with a few of the other comments in regards to the format of the elevator pitch and then about the venture pitch, it is not appealing in terms of maintaining my interest as an investor, it just lacked a dynamic presentation, and I think that there are features about this product that could have really be used to sell an investor. I was curious too in regards to the comments that was made by a peer, about how this business would be prepared to compete and stand up against such market dynamos like google. Great job!

5 Aug
0 Thumbs Up!
ekitchen @ekitchen

FEEDBACK: This was a really interesting product, and as an EVA I could see that you are knowledgeable about your product. I do have to agree with a few of the other comments in regards to the format of the elevator pitch and then about the venture pitch, it is not appealing in terms of maintaining my interest as an investor, it just lacked a dynamic presentation, and I think that there are features about this product that could have really be used to sell an investor. I was curious too in regards to the comments that was made by a peer, about how this business would be prepared to compete and stand up against such market dynamos like google. Great job!

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5 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

FEEDBACK: You did a great job of incorporating something specific from one of the learning resources of the week (wearable technology) into your venture pitch. Of course Google glass is something that is gaining a lot of traction right now, and if you are able to manufacture it and sell it for a fraction of the price, you will have a real winner. Time to market will be key though, you definitely want to be first or one of the first to take your product to market.

5 Aug
0 Thumbs Up!
Bruno @thehoodie

FEEDBACK: You did a great job of incorporating something specific from one of the learning resources of the week (wearable technology) into your venture pitch. Of course Google glass is something that is gaining a lot of traction right now, and if you are able to manufacture it and sell it for a fraction of the price, you will have a real winner. Time to market will be key though, you definitely want to be first or one of the first to take your product to market.

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4 Aug Posted on A#3. Venture Pitch – MiloGLASS™ (improved)

Review: As an EVA, I would want to see a prototype. I would also be concerned about your powerful competitors and the possibility that they may beat you to the punch and offer a competing product. After all, you are claiming that the only thing giving you an advantage in this market are the inflated prices of your competitors. I would need to know that they cannot easily drop their prices.

4 Aug
0 Thumbs Up!
chrward @chrward

Review: As an EVA, I would want to see a prototype. I would also be concerned about your powerful competitors and the possibility that they may beat you to the punch and offer a competing product. After all, you are claiming that the only thing giving you an advantage in this market are the inflated prices of your competitors. I would need to know that they cannot easily drop their prices.

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