How to Improve your Partnering Metrics at RESI

By Karen Deyo, Director of Investor Research, Israel BD, LSN

Life Science Nation (LSN) knows why startups fail at partnering events, and it is mostly a lack of experience and knowledge, which puts the startup out of context. For example, it starts with very simple things, such as not understanding the importance of the tagline. If you are an investor receiving hundreds of meeting requests, you do not have the time to do a deep dive into every message. The company that nets out who they are with a compelling tagline that can be quickly skimmed and then get an affirmative meeting request clicked is how it is done right. You should be able to get a meeting just by the potential partner reading your tagline. The same rules apply to your company’s elevator pitch. A tagline is 5-7 words that net out who you are and what you do. A potential partner should be able to read your tagline and have enough information to either take a meeting or go on and read more…your elevator pitch is 5-7 sentences that net out who you are and what you do in more detail.  Again, from reading the elevator pitch should be able to decide whether take a meeting or read more.

There are a lot of pitfalls and common red flags that companies can avoid when trying to make a good first impression. These include assuming the investor is completely ignorant of the market, claiming their technology will address a whole market (such as ‘cancer’), claiming to have no competition, and claiming a KOL is involved in their company when they are not. Do not underestimate the investors you meet and expect them to take everything you say at face value – they are well informed, and, if they run into something they aren’t sure about, they will check.

LSN has developed a 4-step process on how to request meetings at a partnering conference.  LSN knows that just asking for a meeting will get you minimal results. We use the subject line of the email as a key starting point because if you use the subject as a tool to get attention and generate meetings if used properly.

4-Step, Subject Line Process that we have pioneered and works with astounding results. We have tested this process hundreds of times. The results are usually going from 3-7 meetings to 12-20+ meetings just by having your story and narrative crisp and using our LSN meeting request process. The 4-Step, Subject Line process that starts with putting the following in the subject line.

• First Attempt for RESI Meeting: Introduction meeting request of XYZ company at Up-and-coming RESI event
• Second Attempt for RESI Meeting: XYZ Companies Founders, Management Team, KOLs, and How XYZ Make a Difference
• Third Attempt for RESI Meeting: XYZ Company Innovative Technology Asset and Market Position
• Fourth and Final Attempt for RESI Meeting: XYZ Company Strategic Partners and Current Projects

Remember that when launching and positioning your company you are going on a journey from regional to global. Sign up for the LSN classes that are available to help with your branding and messaging. LSN curriculum specifically revolves around Global Roadshow Preparation, getting a company’s story straight, developing a compelling narrative, canvassing a global target list of capital investors and licensing partners, and follow-up. RESI partnering events bring the LSN ecosystem to life and afford startups the opportunity to meet strategic partners five times a year which is a crucial aspect as the transaction does not get done by attending 1-2 events a year.

LSN’s Redefining Early Stage Investments (RESI) Conference series is a terrific opportunity to network and make connections with key players that can help move your company to the next phase. The RESI conference series, because of its unique focus and format, is by far the best opportunity for early-stage companies to meet and partner with investors and strategics. Partnering opens February 21 for Digital RESI, March 14-16 and your degree of success is directly proportionate to the effort you put into it.