Elevate Ventures Presentation Notes

Purpose of Meeting: To introduce Elevate Ventures, its mission, and its investment opportunities.
Participants: Various team members from Elevate Ventures and attendees from a university or educational institution.

Nature of Organization: Elevate Ventures is described as a venture development organization that combines elements of venture capitalism and economic development.
- Venture Capitalist Role: Evaluates and invests in innovation-driven companies.
- Economic Development Role: Aims to leverage public funds, particularly taxpayer dollars, to stimulate job creation and business growth in Indiana.

Target Companies: Focus on early-stage, innovative companies, often described using Shark Tank as an analogy where investors listen to pitches and can commit funds directly.
- Investment Examples: Offers starting investments as low as $20,000 in early-stage ideas, even those presented on a napkin.
Pitch Decks: Entrepreneurs are encouraged to create pitch decks to present their ideas, typically in a ten-minute format, for potential investment.

Key Team Members:
  - VP of Pre-seed Investments: Responsible for supporting the earliest companies.
  - VP of Hard Tech: Focuses on physical products and deep technology.
  - Investment Committee Member: Discusses final investment commitments after pitches.
Roles and Responsibilities:
- Support, coach, and mentor new entrepreneurs in the development of their pitches and business ideas.

Background Information:
- Presenter: Matt Bacher, a Purdue University graduate in Chemical Engineering.
- Previous Experience: Worked at a medical company (Eli Lilly) where he gained experience in designing medical devices.
Introduction to Top Chop:
- Founded in May 2020 as a response to a personal need after a choking incident with Matt's daughter.
- Objective: Create products to simplify meal preparation for parents.

Product Description:
- Development of a cutting board and knife set designed to improve food prep safety and efficiency.
- Unique design aimed at accommodating parents who are preparing food and managing children simultaneously.
Market Position:
- Emphasis on universal design, making products accessible across various customer bases, including parents and institutions.

Sales Progress:
- Claims of product sales totaling approximately 3,500 units within the first 20 months.
- Noteworthy low return rate of around 0.5%, significantly below industry norms, indicating product satisfaction.
Market Engagement: Engaged with both B2C (business-to-consumer) and B2B (business-to-business) channels, with a need for a structured sales process.

Funding Requirements:
- Planning for an $800,000 seed round to support growth in production, marketing, and distribution.
- A need to transition from founder-led sales to a more structured and scalable sales approach.
Cost of Goods Sold (COGS): Relevant details about manufacturing and pricing strategies to be found in a data room accessible to interested parties.

Target Audience: Focused on healthcare institutions and rehabilitation centers that could utilize their products.
Distribution Partners: Exploring partnerships with large distributors to enhance product reach in various healthcare settings.
Market Objectives:
- Aiming to differentiate products in the context of institutional needs that go beyond traditional consumer market placements.

Wrap-Up Instructions: Participants instructed to engage with the provided links to access further information, including a nondisclosure agreement and data review.
Mentorship Opportunities: Participants encouraged to utilize mentor meetings for additional guidance and to clarify questions regarding the pitch process and investment propositions.
Final Submission and Presentation Guidelines:
- Reminders set for final presentation materials due before a specified date.

Active Participation Encouraged: Discussions emphasized the importance of involvement and contribution of diverse ideas in the entrepreneurial landscape.
Support Structure: Continuous support offered from Elevate Ventures team members for any inquiries and concerns throughout the developmental stages of the project.