You should invest in DropDeck: a pitch deck alternative and investor relationship management tool to help startups get invested and investors save time and find more good startups
by Anh Vo
1. (Problem) Pitch decks are time-consuming to review and not informative enough. Pitch decks are also a pain for startups because they have to spend so much time researching on how to build a great pitch deck and creating strong visual instead of meeting customers or building products.
1.1. (Validation with investors, who are end-users) Jonah Levey, 9 other angel investors Angel4.us, Proself Angel, Eddie Thai from 500 Startups, Anh Minh Do from Vertex Venture, Ngo Chi Duc from First Round Venture agreed it's hard to find important points in pitch decks, and slow to review startups and find good ones.
1.2. (Validation with investors, who are payers) Based on a survey at INCO Startup Center, 37 startups responded that building good pitch deck wastes too much time and resources and they would pay for a tool to save time and increase the chance of getting funded.
2. (Problem-solution fit) DropDeck solves this by helping startups organize points in the best way investors expect to consider investment.
2.1. (Validation with investors, who are end-users) Jonah Levey, 9 other angel investors Angel4.us, Proself Angel, Eddie Thai from 500 Startups, Anh Minh Do from Vertex Venture, Ngo Chi Duc from First Round Venture agreed DropDecks are more informative and faster to review because they can find important points first, which are backed by details they can review later. Half of them said it was likely to fund the startups in the DropDecks I presented.
2.2. (Validation with startups, who are payers) 10 startups whom we helped prepare DropDecks for got invested, admitted to incubators, won prizes, or impressed investors enough for a second meeting.
3. Our team are close, dedicated, talented, passionate, and successful individuals.
3.1. Khoa Nguyen, the Hustler, has been working with the Founder for 2 years, is a veteran salesman and marketer, currently project director of UNESCO-CEP and INCO Startup Center, has raised more than 500,000 USD in total for various projects over 5 years. (CV attached)
3.2. Anh Vo, the Founder/Product manager, has been pursuing and developing the core ideas and ambitious plans behind DropDeck since 2010, pivoted many times, started up and failed twice. Currently the product manager of Yomi Studio, a successful software engineering agency. (CV attached)
3.3. Micheal Phan, the Hacker, has known the Founder for 1 year, is a serial entrepreneur, an expert in robotics, AI, and currently an owner of AZDigi, a software outsourcing company. (CV attached)
3.4. Light Nguyen, the Designer, has known the Founder for 1 year, is an expert in UX/UI, and an owner of Yomi Studio, a successful software engineering agency specialized in the Singaporean market. (CV attached)
3.5. Advisors include Eddie Thai of 500 Startups Vietnam, Ngan Sau of Google Developer Group, Anh Minh Do of Vertex Venture Management, and Saikit Ng of Captii Ventures.
4. The market size is large and there are a huge number of channels to market the product and many ways to hack growth
4.1. The market size for around 50,000 startups seeking funding in Southeast Asia alone with 80% penetration rate is US$4,000,000. The global market size is vast and subject to increase as DropDeck adds functionality.
4.2. It's easy to hack growth by building DropDecks for free for top startups, creating a library for startups to compete with each other, and marketing on huge channels for startups and investors such as Facebook groups, Reddit, Hacker News, Dribble, GrowthHackers, Quora. We also market at a lot of startup events and through startup organizations as partners.
5. DropDeck is just 27 cents per day, an amount “that people put on their credit cards and no one even really notices that it’s happening.”
6. The product is great and difficult to duplicate
6.1. The UI/UX design is intuitive, elegant, and fluid. (screenshots and demo video attached)
6.2. Core functionality (navigation/motion, search, file sharing) is exceptional and constantly improved based on feedback.
7. (Product-market fit) The freemium business model is conducive and gained substantial traction: unlimited search results, Drops, DropDecks; US$10/month, US$100/year.
7.1. (Traction) After 12 months, we have 87,000 downloads, 42,000 DropDecks created, 4287 monthly active users in 79 cities, 30% of who paid, US150,000 in revenue.
7.2. Since startups pay for DropDeck to get invested, costs for DropDeck is eventually covered by investors.
7.3. Many investors, incubators, and startup organizations bought subscription in bundle and distribute to startups
8. DropDeck is endorsed by influencers from VCs, startup and investor communities, and loved by hundreds.
8.1. Eddie Thai of 500 Startups Vietnam - "DropDecks are 2X faster to review and guarantee we found what we looked for. We funded one startup after reviewing its DropDeck.
8.2. Ngan Sau of Google Developer Group - "DropDeck is such an effective and easy way to help startups look great to investors and maximize their chance to get investment!"
8.3. Anh Minh Do of Vertex Venture Management - "If all pitch decks are turned into DropDecks, so many successful investments will happen."
8.4. Saikit Ng of Captii Ventures - "I could have saved so much time if I could review DropDecks instead of pitch decks."
8.5. DropDeck was featured on Product Hunt as #1 app in Venture Capital, and #2 in Productivity.
9. DropDeck is uniquely positioned, designed, and engineered compared to direct & indirect competitors to become a pioneer in fundraising support tool.
9.1. Most startup support businesses help prepare pitch decks only, which are a 1-dimensional, visual centric form of presentation, mostly contain little information, or arrange information not in the most desirable order.
9.2. Mindmap is an alternative 2-dimensional form of presentation to arrange selling points in the best way, but no existing mindmap business is optimal for startup to persuade investors.
9.3. DropDeck combine elements of mindmap building and best practices in pitch deck building to create an optimal tool to seek funding. We also add and perfect core functionality to create the best experience for startups and investors. Overall, DropDeck is the best tool to help startups and investors make deal, and it's better and easier to use than any alternatives.
10. Our vision is clear, ambitious, and we have a realistic roadmap to reach there.
10.1. Our plan is to perfect DropDeck as an fundraising support tool until DropDeck completely replaces pitch deck, and then expands into the first investor relationship management (IRM) tool, and eventually integrate with investment-information giants such as Angelist and Crunchbase to help startups and investors worldwide.
10.2. We also plan to experiment with many promising ideas and build companies based on validated ones - FeedLoop: a customer feedback analysis service and decision-making tool - PropHR: a personnel appraisal tool for HR managers and headhunters - PropBiz: a decision-making tool for corporate managers to evaluate decisions during company-wide meeting - PropCV: an alternative to CV for job seekers to present their qualities in a new, clearer way (as a tree) in which each quality is backed pointedly by facts, reference, or documents - PropVote: an alternative to ballot for voters to vote with facts instead of faith - PropEdu: an alternative to graduation papers (for students/researchers) or teaching materials (for lecturers) where each piece of knowledge, conclusion, or insight is based on one another - ProPublish: an alternative to new article for journalists to start with the conclusion at the top and all evidence below it, which was provided by the same journalist or others, so that journalists can collaborate in investigation; their information can always be updated and linked.
10.3. In the long term, we will combine all these products into a multipurpose knowledge platform called PropMap, which can become the central knowledge base for everyone to organize knowledge, evaluate any fact or choice, and apply predictive models to create powerful insights and predictions.
11. We are raising US$300,000 to perfect DropDeck as an fundraising support tool in 1 year and prepare for next phases.
11.1. - Office costs 15,000 USD - Development costs 150,000 USD - Living costs 20,000 USD - Marketing costs 60,000 USD - Internet services cost 30,000 USD - Equipment costs 15,000 USD - Customer support costs 10,000 USD