How to prepare for a pre-seed round in Deep Tech? Getting ready a VC interview | Deep Tech Catalyst

Welcome back to Deep Tech Catalyst, the channel where science meets venture!

Today, we’re honored to have Arkady Kulik, Founding Partner @ rpv, joining us.

In this session, we’ll delve deep into the journey of introducing groundbreaking technology to the market, with a keen focus on the pre-seed stage in Deep Tech. From understanding Technology Readiness Levels (TRL) to navigating the complexities of intellectual property rights and market traction, we will provide invaluable insights and strategies tailored for approaching the first VC interview.

Join us as we uncover the key principles and actionable approaches to unlocking the full commercial potential of Deep Tech innovations.

Let’s get started!

Host: Nicola Marchese
Guest: Arkady Kulik
#DeepTechCatalyst
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TIMESTAMPS:

(00:43) 🎙️ Making the Leap: From Ground Zero to Pre-Seed
(02:51) 🪜 Understanding TRL in the Early-Stage Deep Tech
(04.02) 🔬 What to prioritize at TRL 3?
(04:51) 🤝 Approaching Pre-Seed VC Interviews in 3 Steps
(11:05) 🛡️ IP and Tech
(12:15) 🤼 Competition in Pre-Seed
(15:27) 💼 Scientific vs Entrepreneurial Spirit in Startups
(17:37) 🎯 Focus on the Fundable Events Timeline
(21:26) 📊 Streamlining Budgetary Planning

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KEY THEMES COVERED:

1. Making the Leap: From Ground Zero to Pre-Seed: The focus is on developing a prototype and deploying the first device in the target operating environment. The significant milestone at the pre-seed stage is the deployment of a prototype used by real-life users.
2. Understanding TRL in the Early Stage Deep Tech: Technology Readiness Levels (TRL) serve as a standardized metric for gauging the maturity of emerging technologies. Understanding these stages provides a roadmap for navigating the development and commercialization journey of emerging technologies.
3. Approaching Pre-Seed VC Interviews in 3 Steps: Preparation, personalized communication, and honesty are the pillars of success in navigating pre-seed VC interviews. The steps include doing your homework, opting for warm introductions over cold calls, and maintaining integrity.
4. IP, Tech, and Competition: It’s crucial to understand what to prioritize when engaging with venture capitalists (VCs). At the pre-seed stage, outlining a clear trajectory for IP protection is sufficient. Charting the competitive landscape and securing a strong market position is vital.
5. Scientific vs Entrepreneurial Spirit in Startups: The ideal team composition pairs a seasoned scientist with an entrepreneur. A scientist with entrepreneurial aspirations who is open to guidance and feedback can be a significant asset to the team.
6. Focus on the Fundable Events Timeline: It’s crucial to map out a timeline of milestones that align with the capital needs for the first 2 to 3 years after securing investment. This timeline offers investors a glimpse into your strategic thinking.
7. Streamlining Budgetary Planning: In budgetary planning, it’s essential to adopt a conservative approach. This involves basing projections on industry averages rather than optimistic assumptions. Effective budget balancing is crucial, with R&D often constituting a significant part of the budget.

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