Tim Keane, director of Golden Angels Investors in Milwaukee, said “everything takes longer than everybody thinks” when it comes to growing a startup company.
Jenni Le, an associate with Venture Investors in Madison, said some founders can get caught up in explaining the technical details while investors are often more concerned with other aspects of the business.
And she cautioned those seeking investment against casting too wide a net, instead urging attendees to select pitch targets that fit the business in question.
“It shows us that you’re serious about fundraising and that you’re not just spraying and praying,” she said. “And you do have to kiss a lot of frogs to find the investor prince, certainly it can take a lot of meetings. But don’t just spam investors’ inboxes.”
Both investors said startup teams with prior successful exits are typically more successful, while Le also highlighted the importance of technical expertise and existing industry connections.