Preview of Innovation@50+ LivePitch Competition: Judges and Criteria for Winning
It’s finally here: AARP’s 6th annual LivePitch competition begins this morning at 9 am PST, with day 1 dedicated to Caregiving Health Tech startups and, for the first time, a second day dedicated to FinTech startups. (Live streaming is available here).
Let’s take a quick look at this year’s Caregiving Health Tech judges as well as what criteria will be used to select the Judge’s Choice Award.
This year’s judges include venture capitalists and angel investors focused on health tech solutions, especially for the aging boomer population.
Ambar Bhattacharyya, Managing Director, Maverick Capital
Ambar joined Maverick in 2015 and was previously vice president at Bessemer Venture Partners. Prior to that, Ambar served as assistant to the CEO at MinuteClinic (acquired by CVS) and worked at Bain Capital Ventures and Bain & Company. Ambar holds an M.B.A. with distinction from Harvard Business School and a B.S. in economics and a B.A. in psychology from the University of Pennsylvania. Ambar currently sits on the Bay Area Board of Generation Citizen and was previously a board member of UP Academy Boston and Dorchester.
Missy Krasner,Vice President & Managing Director, Healthcare and Life Sciences, Box
Missy is Vice President and Managing Director for Healthcare and Life Sciences at Box where she leads the healthcare vertical. Prior to Box, she was an Executive-in-Residence (EIR) at Morgenthaler Ventures and specialized in health IT investments. Missy is also a special advisor at Canvas Venture Fund. Prior to her role in venture, Missy worked at Google for 5 years. She was one of the founding executives of Google Health, an online medical records and wellness platform. Prior to her role at Google, Missy worked for the government under President George W. Bush and in the Secretary’s Office at the U.S. Department of Health and Human Services (HHS). She was one of the leading executives in the inaugural office of the National Coordinator for Health Information Technology (ONC) for the nation. Missy is a mentor at StartX, the Stanford University startup accelerator and Techstars, Cedars Sinai Medical Center. She sits on the boards of several digital health companies. Missy has a M.A. from Stanford University in healthcare policy and business administration and a B.A. in English Literature and Theater from UCLA.
Alexander Anthony Morgan, Principal, Khosla Ventures
Alexander is a Principal at Khosla Ventures, a Silicon Valley VC fund which invests broadly in technology from seed stage funding to later stage capital investments. Alex has a special focus on biotechnology, healthcare and data science. Alex did his PhD in biomedical informatics and medical school, both at Stanford. He has extensive experience in precision medicine and machine learning, and has worked as an early employee, co-founder, and adviser to a range of companies in technology, biotechnology, and finance.
Lynne Chou O’Keefe, Partner, Kleiner, Perkins Caufield & Byers.
Lynne joined Kleiner Perkins Caufield & Byers in 2013. She focuses on digital health and connected devices, helping entrepreneurs develop technologies that improve patients’ lives. Before KPCB, Lynne spent over twelve years with medical device companies, Abbott Vascular and Guidant and also worked at Ajax Partners and Goldman Sachs.
Each of the ten finalists will have 3 minutes to give their pitch to the judges as well as–and this is the hallmark of LivePitch’s unique appeal–around 100 AARP members representing the more than 38 million members nationwide. These AARP members are the potential consumers / end users of the products and services of the entrepreneurs.
Following each presentation is a 5-minute Q&A with the Judges and then 2 minutes of questions from the audience.
The first five finalists present from 1:25 – 2:30 pm followed by a short break and then the second set of five finalists present from 2:45-3:45. At that point, Judges retire briefly to make their choice, which will be announced during a presentation from 4-4:30.
Of the first 50 finalists in the five previous LivePitch events, 26 raised over $172 million in venture investment, and another four companies exited through acquisition. Last year’s winner of the Judge’s Choice Award, co-founder of Penrose Senior Care Auditors, Rhonda Harper, recently told The Longevity Network that “Because of winning the Judges’ Choice Award, we have been fortunate to garner investor, media, consumer, and industry attention and credibility.”
Precisely what the judges are looking for in these business plans is not publicly available but a look behind the scenes at the coaching and mentoring provided to finalists gave us some clues:
- A clear sense of who the users are
- What problem(s) the company aims to solve for them
- A viable business model, with detail on such key metrics as cost of acquisition, avenues for marketing, plans and costs of scaling or growth
- A strong team with relevant and complementary experience
- Evidence of good traction in the market so far (even if it is just in the form of pilot studies or beta tests)
- Strong market differentiators from the competition