What Life Science Startups Can Learn from the Launch of the iPod or Have We Forgotten How to Deliver an Elevator Pitch?

Reflections from Life Sciences Week 2024: How to Master the 90-Second Pitch

This week, I attended a pitching event at Life Sciences Week in London, where approximately 16 ambitious, high innovative startups in the sector were given just 90 seconds to pitch themselves, their companies, and their "ask" to a room full of potential investors and partners. Watching these pitches was inspiring, enlightening and somewhat frustrating, highlighting the critical importance of making every second count.

So, what makes a successful 90-second pitch in a crowded event like this? Let’s break it down.

What Should You Achieve in 90 Seconds?

A pitch isn’t just about delivering information—it’s about sparking interest and driving action. In 90 seconds, your goals should be:

1. Who am I?
2. How can I stand out?
3. Why should the audience follow up?

How Technical Should You Be?

It’s tempting to dive into the intricate science, but in most cases, this can confude and/or alienate a diverse audience. Your pitch needs to resonate with everyone in the room—general investors, specialists, technical experts, and financial stakeholders alike.

For example, while CAR-T vs. TCR-T therapy may be a pivotal technical distinction, many investors won’t fully grasp it without explanation. Instead, focus on outcomes:

• Clinical status: “Our therapy is in Phase II trials and showing promising results.”
• Market size: “This represents a $10B global market with double-digit annual growth.”
• Patient benefit: “This could increase survival rates for rare cancers by 30%.”

This is where Apple’s iPod strategy provides a perfect analogy. Instead of highlighting technical features like megabytes or file formats, Apple said: “1,000 songs in your pocket.” It’s a simple, relatable benefit that anyone could understand. Your pitch should distill your innovation into similarly compelling terms.

Understand Your Audience

Pitching is not a one-size-fits-all exercise. The room might include:

• General investors: They want to know the size of the opportunity and the potential ROI.
• Specialist investors: They’ll look for clinical and technical credibility.
• Technical experts: They’ll focus on innovation and differentiation.
• Financial stakeholders: They care about scalability and timelines.

Craft your pitch to appeal broadly, and let follow-up conversations dive into the technical details. Remember: the purpose of the pitch is to start the conversation.

Be Different

In a crowded field, formulaic presentations blur together. To stand out:

• Use storytelling: Tie your innovation to a patient story or a real-world impact.
• Be (visually) engaging: If slides are allowed, prioritize bold, simple visuals over text-heavy slides.
• Show passion: Your enthusiasm and belief in your idea can be as persuasive as the idea itself.

Final Thoughts

In 90 seconds, you’re not selling your entire company—you’re selling the next conversation. Whether it’s positioning a breakthrough in oncology or launching the next tech revolution, your pitch should focus on:

• Who you are.
• What problem you’re solving.
• Why the audience should care.

What’s your “1,000 songs in your pocket”? Find it, refine it, and make your 90 seconds count.