building a pitch
DESCRIPTION
Speaker: Mike Polonsky "Hey buddy, can you spare a $100 million?" or How to convince successful financiers to give you millions of dollars in a project doomed to fail! Part of the CIBC Presents Entrepreneurship 101 lecture series. For more information, including video of the session, please visit: http://www.marsdd.com/Events/Event-Calendar/Ent101/2009/building-a-pitch-04152009.htmlTRANSCRIPT
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hey buddy, can you spare a $100 million?
how to convince successful financiers to give you millions of dollars in a project
doomed to fail!
or
Michael Polonsky April 15th, 2009
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I love love love entrepreneurs innovation canada
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General Petraeus on powerpoint
"It's how you communicate big ideas - to communicate them effectively."
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what is a presentation
?
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general specific
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The closest cousin to a power point slide �is a billboard!
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350 employees
75 key accounts
Business plan
Momentum
Overcome obstacles
95,000 square feet
8 products
Competitive advantages
Mission
Vision
Values
logo
Track record
Chief financial officer
Strengths
Opportunities
Expert board
Awards
Growth strategy
Organizational chart
Money in the bank
Features and benefits
VC shareholders
Website
Audited statements
Something big coming
Media coverage
Revenue model
Acquisitions
Nice boardroom
Technology
Intellectual property
7 years of hard won memories
But you’ve got a lot to say …
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leave an impression
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On June 4 1940, Winston Churchill delivered a 45 minute speech, commonly known as “We shall fight on the beaches”, to the House of Commons of the British Parliament. It was a great inspiration to an embattled United Kingdom as it entered what was probably the most vulnerable phase of the entire war. Public opinion for the war effort was waning in the face of devastating losses and a formidable enemy.
Churchill encouraged a country to keep fighting in 45 minutes.
how do you encourage someone to give you $10M in
45 minutes?
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general specific
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keep it high level don’t DROWN in DETAIL keep it clean
tip (not rule) no. 1
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what is a presentation
?
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350 employees
75 key accounts
Business plan
Momentum
Overcome obstacles
95,000 square feet
8 products
Competitive advantages
Mission
Vision
Values
logo
Track record
Chief financial officer
Strengths
Opportunities
Expert board
Awards
Growth strategy
Organizational chart
Money in the bank
Features and benefits
VC shareholders
Website
Audited statements
Something big coming
Media coverage
Revenue model
Acquisitions
Nice boardroom
Technology
Intellectual property
7 years of hard won memories
You got 45 minutes: on you mark, get set, go …
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You actually only get 23 minutes.
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Marathon 100 metres
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NOW!
huh aha
(rapid transfer)
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are created equal
NOT all points
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All points are equal
• Interesting point but not really relevant • Uninteresting point but relevant • Major, earth shattering, earth quaking point • Interesting corollary perspective • Necessary background point • Interesting-but-dude-is-now-sleeping point • Because-I-love-the-sound-of-my-voice point
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The point
Big big big support
additional support
additional support
additional support
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The point
Big big big support
additional support
additional support
Underlying takeaway message
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The point
A
Underlying takeaway message
B C
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The point
A
Underlying takeaway message
B C
1 2 3
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25
13/ of all new products
The future of medicine
25
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26
Outlook:
Revenue growth of 10 to15 percent in fiscal 2008
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Cangene is fully integrated
Develop from concept to commercialization
Manufacture process sensitive biopharmaceuticals
Sell niche marketing team for biodefense products and commercial partnerships
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28 Strong preclinical franchise
Top 10 Preclinical CRO worldwide
400+ Active clients
90% Retention rate
8 of 10 Largest pharma as clients
A fast growing, highly profitable CRO
28
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29 MERCATOR MINERALS LTD.
Strengthens steel
Anti-corrosive agent
Chemical catalyst
Molybdenum
annual market 12 $ B *
*Add note here
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GRID it to GREAT think about emphasis think about scale think about priorities
tip (not rule) no. 2
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Not words
maps pictures diagrams illustrations
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what is a presentation
?
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20-30 slides
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
• afj;psldk • aslkdflfk • asljkfhf
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the great ones are more than a series of slides
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power of a narrative
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what is a presentation
?
story 1
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which came first?
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hunger no hunger … no plot … no one cares
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Coronary Heart Disease
one
Number
killer! 20% of all deaths
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B R E A K I N G T H R O U G H
Wet AMD
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Meeting the Emerging Exploding Demand Insulin
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What if there wasn’t enough insulin?
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There isn’t. What if there wasn’t enough insulin?
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50% of potential wind energy is lost
0
44
25 - 30% Actual
efficiency
59.3% Maximum
theoretical efficiency
(Betz limit)
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45 45
Actual misalignment in operation Optimal alignment
LOST EFFICIENCY
wind Yaw
Because the wind is always shifting, turbines are almost always misaligned…
ener
gy p
rodu
ced
ener
gy p
rodu
ced
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Actual mis-pitch in operation
LOST ENERGY
Optimal pitch
ener
gy p
rodu
ced
ener
gy p
rodu
ced
MORE ENERGY CAPTURED
LOST EFFICIENCY
…and because the wind is always gusting, the blades are almost always mis-pitched
46
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value proposition
Solution to hunger
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Neuradiab Survival Data
Clinically compelling difference
42 %
1980 to
2004
2005
91 Surgery + Radiation + Temozolomide + Neuradiab
Surgery + Radiation + Temozolomide
Surgery + Radiation
Survival in weeks
75 60 45 15 30 105 90 0
weeks
48
64 weeks
53 weeks
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CRD5 Rapidly Increases HDL
Crestor (Statin)
Niacin - ER CRD5
Poorly tolerated Low market share
Levels still rising Non-optimized formulation Healthy volunteers
% in
crea
se in
HD
L
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Expanding Clinical Benefit
30
(Source: OGY 07)
No drugs approved Surgery chemo
OvaRex® MAb extends time to relapse
13 months
Watchful waiting Frontline
Tumor Burden
CA 125 Level
Months 0 6 16
OvaRex MAb
Relapse diagnosed
10
Initiate OvaRex® MAb therapy
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complete responses
25%
four doses of Proxinium™ complete tumor response
complete responses
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FunctionFIRST™ yields results
500 A pipeline of
antibodies
lead candidates Five
52
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We can make wind energy production more efficient!
Improvement with our technology!
Possible efficiency
Actual efficiency
0
53
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greed you have to show them the 10 bagger - Michael Denny
no one invests in hyper growth stories to double their money
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25% market share
if at $5,000 = $692,500,000
ISA247 Psoriasis Opportunity
patients treated with oral immunosuppressants
in the U.S.
per treatment cycle
if at $10,000 = $1,385,000,000 per treatment cycle
Established safety and efficacy
Source: Datamonitor 55
554,000 ISA247:
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Top 3 drug categories
$ 1billion+
Cytostactics (Cancer)
Antiulcerants (GI tract)
Cholesterol & triglyceride
reducers
World’s Largest Drug Market
5 drugs over
$23.8B
$25.5B
$30.2B
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Our potential
$11
Billion
Wind turbine opportunity
Yaw benefit
Reduced wear
Improved speed control
Reduced downtime
Expanded operating envelope
Met tower replacement
Airports
Yacht/sailboats
Forest fire fighting
National wind map
+ 57
Pitch benefit
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$8B Spent annually in North America expanding & replacing current infrastructure
58 Resin Systems
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need expressed: hunger
need addressed: value proposition
market opportunity: greed
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don’t come up flat think about structure
tip (not rule) no. 3
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Not blind faith
brevity patterns stories emotion
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Complexity/quantity Time constraints Durable goals
right information rapidly transferred High impact/recall
don’t drown in detail grid it to great don’t come up flat
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right information the
rapidly transferred
high recall with
messages distilled
diagrams pictures
everything not
maps
illustrations words not
stories patterns brevity
emotion blind faith not
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don’t forget
milestones
request for cash
current shareholders
financings to date
IP
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Milestones
Q3 2005 Q4 2005 Q1 2006
X
X
X
X
X
X
U.S. sales partner
Installed in 25 U.S. hospitals
Initiate studies for expanded indications
Initiate North American multi-centre trial
Initiate combo trial with multi-national partner
File for Canadian and European approval
SPY System
OPTTX System
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Exendin-4 Albumin Conjugate: Next Steps (PC-DAC™:Exendin-4)
One month multi-dose Phase I/II trial
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Investment Opportunity
– Launching commercial platform
– Expanding content partnerships
– Developing molecular tests
– Scaling quality manufacturing
Seeking
in financing to drive the business forward
$ million 51
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recommended reading
made to stick
brain rules
slideology
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closing thoughts
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evidence evidence evidence
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…transacts! generating earned attributes
TALK like a person
be authentic!
STOP the bullshit
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how do you get to Carnegie Hall?
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show a little leg …
speed dating
… move on
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100% of zero is zero
dilution
Think big!!!
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thank you