After watching the elevator Pitch from the perspective of an EVA, NO I would not immediately invest, but would request more information in the form of a Venture Pitch or Business plan, specifically regarding financials, ROI, and their team’s history.
With respect to the Elevator Pitch, there isn’t so much a pain point as an improved way to engage kids with coding, creation, and practical and active learning. The product appeals to both adults (parents, educators, children’s toy companies) and children (users), and is unique in that the child both constructs and creates their product, involving them throughout the building and learning process, while exposing them to technology and getting active. It seems simple to assemble and use, stands at an affordable price point ($55), and offers an interactive product over typical coding apps based on a computer or mobile device, such as Hopscotch, Scratch, or Kodable. Since its Kickstarter ended in 2016, there is now competition within the market share such as JewelBots, Cubetto, Kano (which lets kids assemble and program their own actual computer!), programmable robots such as Hasbro FurReal, and LEGO Boost Robotics Toolbox, which is accompanied by an App that also teaches kids how to code specific actions in their creations. Despite the competition, this emerging market product should still satisfy children in the creative and technological domain, as it is differentiated by its emphasis on children getting active with their creations.
According to their Kickstarter page, they have shipped over 60 000 Mover Kits to over 97 countries to date, so the product is certainly attracting interest and gaining market share.
The passion for the product and its benefits to the intended demographic are apparent; the Co-Founder of their company, Technology Will Save US, incorporates exuberant child-users and even his own son into the pitch to reinforce that fact, as well as to demonstrate the volume of creative applications for the Mover Kit. I even found the background music complementary to the activities of the children and the overall fun nature of the pitch.
In sum, the elevator pitch is simple, innovative, and the product is accessible due to price point and simplicity.
Why I would review their Venture Pitch: The elevator pitch has no mention of the financial ‘ask’ or ‘return’, nor any past projects from their CEO/Team (although their company website now has multiple products marketed toward the same genre/demographic). I would also discuss their market competition and how they see themselves innovating and maintaining a successful and growing market share before investing.
Cheers,
Reg