Economy

Yes, I would invest in this venture. The company’s hook that it “develops toys to help kids learn about the world through technology and play” makes it clear what the venture is about, its vision, and the potential for future products. The pitch focuses on the importance of skills development such as problem solving at an early age, while the product itself is a tool for developing those skills. This means several viable products can be developed with that overall goal in mind, as opposed to be limited by the success of a single product. The pitch also addresses a large potential market for the venture's products by mentioning that kids as creators of technology, and not just consumers, is “the new normal.” The ask in the pitch video is $110.00 or more to “help kids find their innate ability as digital creators,” which gives investors a Complete Dough Universe kit and their name in the app’s credits. Daniel and Bethany, the founders who are pitching in the video, are engaging and appear genuinely passionate about helping children develop their creative and scientific skills.

YES, I would invest in this venture as CO.LAB is promoting a mission that is long-lasting with far-reaching effects. Rather than a single product, the money invested will go towards maintaining a space that breaks down entry-barriers for marginalized groups. This pitch successfully taps into our empathy (“Making is the great equalizer because we are all intrinsically curious…but not everyone has access to this table”). By backing this project, investors are aligning themselves with these ideas. Examining the overall design of the video, it is very well done, from the narration, to the video clips of children and adults—“innovators of colour”—utilizing this space.

+ Pain Point: Due to systemic inequality, marginalized and underrepresented groups get limited opportunities to explore STEM topics and express their ideas, and as such, less opportunities to pursue entrepreneurial endeavors.
+ Solution: CO.LAB aims to break barriers with their makerspace where “women, people of color, the LGBTQIA+ community, and the economically disadvantaged” can have access to STEM equipment and materials for free.
+ Differentiation: What sets this kickstarter apart is that the focus is not on TOOLS for makerspaces, but rather on the SPACE itself. The space will remain free for its end-users.
+ The Ask: CO.LAB already has the building, the equipment, and the people to run the programs; CO.LAB is asking for $25,000 to help cover one year’s worth of rent.

REVIEW: Very good presentation Dustin. Both your elevator pitch as well as your venture pitch had me extremely engaged. You present yourself very professionally and confidently in both and I think this would be one of those cases where I would choose to invest in the investor more than the investment idea. A few of the things I really appreciated about your presentation: (1) an excellent presentation about who you are and your expertise and knowledge of your market. (2) an understanding of what investors are looking for when evaluating whether or not to invest in a business. Looking at differentiation, market advantage, competitive space shows that you understand investment.  (3) strong numbers to back up your decision to enter to market and valuation.  Although due diligence is required to ensure that the figures add up, it seems as though this is very well thought out.  I would invest in this enterprise knowing that you were on the team.  Overall, really well done! I learned a lot from your presentation and really enjoyed it as well.

REVIEW: Hi Scott, I really enjoyed your both your elevator pitch and venture pitch. I thought your elevator pitch was concise and as a potential investor, I had a clear understanding of the problem you saw in the market and how your product helps to solve the problem in addition to what value your product brings to the table. Looking at your venture pitch, I think we had similar ideas in terms of creating curated repositories of information already available on the web. Your product adds an additional component of artificial intelligence to help refine the recommended videos presented. Your business acumen is apparent as you outline how your product will be marketed and provide case studies to that the investor can really understand how your product fits into the existing market. I also liked how you understand that you are looking for "smart" money and that you acknowledge that you don't have all the answers. Entrepreneurs that acknowledge the help that they may need are ones that I would look more favorably upon.  All in all, a very well done presentation. Congratulations.  I would invest in this enterprise! Christopher Wong

Hey Heeweon, Great post! I agree with Evan that Lehtonen's passion for this venture is clear. After checking out 3DBear's website, they detail that the product is aimed at capitalizing on the 'Maker' movement, whereby students can plan, design, and create their own products using 3DBear's lessons and AR design templates found within their app/software. The uniqueness of implementing 3D printing into their venture is innovative and the global demand of which Lehtonen speaks shows great market potential for 3DBear. His drive to continuously learn and innovate speaks to his character as a potential role model for future or would-be entrepreneurs, as evidenced by ensuring his plastic recycler for 3D printers is open source. His product pitch focuses on improving the quality of education for youth, and well as making it more interactive and fun. The Ultimaker 3D printer showcased in their promo video retails for approximately $4-8K depending on the model. With the advance in 3D printing technology and availability, hopefully the cost of the 3D printers declines such that they can become more widely adopted in learning environments such as those Lehtonen describes. I'm left wondering if their software/app is compatible with any 3D printer...or is limited to a certain brand or type? For the teachers in the group - do your schools currently have 3D printers? Have they been successfully integrated within the school's curriculum/teacher lessons? Thanks again Heeweon for the great read! -Reg

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