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For Nontech Entrepreneurs
Investors may find a thousand reasons to tell you no, but take heart: Your background probably isn’t one of them. A 2020 Pitchbook survey found only 15 percent of investors value background, which is less than half of what it was the year before.
Even better, the same study showed that where the value in executive branch pedigree waned, the value in profitability saw an 8 percent increase.
statistics show that there’s a new trend venture capitalists are valuing, and understanding what VCs are looking for can help minimize the effects of imposter syndrome among entrepreneurs.
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Having A Non-Traditional Background
In a world where everyone seems to have a million-dollar idea, finding support and investors who believe in yours, even in the tech world, can be challenging. Another factor that may seem like a barrier? Coming from a nontraditional background outside the FAANG realm — meaning, without experience at the tech behemoths Facebook/Meta, Amazon, Apple, Netflix and Alphabet’s Google.
A nontraditional work background filled with diverse experiences should be celebrated when entering the startup world.
10
67 reads
What VCs Look For
It's important to understand how to leverage your unique skills when it comes to acquiring VC funding as a founder with a nontraditional background.
When planning your pitches, start with these steps:
- Embrace your ability to think like a buyer
- Speak multiple industry languages
- Flex your skills from past experience
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69 reads
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