Meetup of the entrepreneurs (photo by Amiti VC)
One of the challenges faced by the founders of high-tech companies is the first meeting with investors. Therefore, the venture capital fund Amiti Ventures, in collaboration with Ignite Intel, decided to hold a meetup event in Tel Aviv where company founders shared with technology entrepreneurs the challenges they faced in the initial stages.
The moderators of the meetup were Omer David Khilaf, CEO and co-founder of INNOVIZ, Michal Letzer, founder and CEO of Tweed and Maxim Melamedov, CEO and founder of Zesty.
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“The road to a large and significant company is full of challenges that sometimes seem impossible,” said David Kilf. “In the end, with the right team, the desire and the required dedication, anything is possible. Choose a problem that you are willing to stay up at night for a decade to solve, assemble your team and everything will fall into place from there.
“The way to invest quickly is in a combination between a meeting with educated investors and your ability to explain the necessity for immediate investment,” Khilaf continued. “If the investor is not knowledgeable in the field or has already invested in the subject, the chance that he will learn the subject for you is very low. It is important to find an explanation for creating urgency for the investment, otherwise there will not be a dynamic that will lead to the closing of the investment. Urgency comes from changes in the market that you recognize, a change in regulation that you are aware of, a very tender It is significant that it is closed, anything that explains why now and not in six months or a year.”
Michal Letzer mentioned the first steps in choosing the right investor: “An investor who understands the field, who understands the customers and the market in which you play. This is not only reflected in connections to customers but also in asking the right questions in order to make the right corrections, and reach the market and the right product now. A good seed investor knew the balance between challenging you and giving you breathing space to make mistakes, learn and improve.’
Maxim Melamedov said that validating the idea with as many people as possible who own the product they are thinking of developing, “will give the greatest added value and the more validation there is, it will help to be more goal-oriented and it can significantly increase the chances of success.”
Maya Zimmerman, portfolio manager at Intel Ignite: “In addition to learning from mistakes, the diverse background of the speakers represents the great diversity. The timing of the recruitment, the type of technology and the target market are also influential. Recruitment in 2021 is not the same as recruitment in 2023, software is not the same as hardware. It is important for us to give value to the wide variety that exists in the Israeli ecosystem, in this event and in the following events of the series.’
Almog Sussman-Lehmann, head of partnerships and community at the Amiti Foundation: “We meet startups from the earliest stage. We understand and see the challenges from Day 1. Realizing that we have a lot of knowledge, we organize focused and ‘surgical’ events, the purpose of which is first of all to take one or another entrepreneurial challenge, and break it down into as many factors as possible. I think today there is a lack of content that focuses on difficulties and challenges, and there is too much talk about the successes. In order to learn from processes and improve, you also need to understand where things work less well and where mistakes were made before us. This is also the basis for this event.’
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