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AI platform boosts VC funding chances for women of colour founders
Thu, 14th Mar 2024

R/GA EMEA, in partnership with Founderland, has launched an innovative AI-powered platform aimed at improving the venture capital (VC) funding landscape for women of colour founders. The online Pitch AI Mentor (PAM) seeks to compensate for the significantly disproportionate 0.5% of VC funding that currently goes to women of colour founders.

PAM is set up as a valuable platform extension to Founderland's annual investor-readiness program, Compass, which traditionally offers only a limited number of places. In contrast, PAM is scalable, providing an inclusive online venue for founders to practice their pitches and receive immediate, individualised feedback.

The heart of PAM is a specially designed AI application capable of analysing any 5-minute pitch. The platform is equipped with a simulated live pitch mode, virtual investors, and options for varying levels of questioning difficulty. R/GA has fine-tuned PAM using Founderland's knowledge base and a comprehensive collection of VC pitches. Areas of evaluation include presenter delivery, slideware, and content.

The venture capital terrain poses several challenges for start-up founders, especially the pressure to create a compelling initial impression. With this in mind, Founderland launched PAM in collaboration with R/GA, utilising the latest strides in Generative AI technology to establish a unique tool for founders.

Nick Pringle, Chief Creative Officer at R/GA EMEA, expressed his excitement about the innovative project: "We have leveraged new technology to serve a genuine need for a community often overlooked. This project is at the sweet spot for R/GA. Our journey with Founderland began by redesigning the brand; to now evolve their product and service offering is an honour."

Stephanie von Behr, Co-Founder of Founderland, emphasised the importance of pitching skills for early-stage entrepreneurs in their accelerator program. She noted that many entrepreneurs lack the opportunity to meet investors and practice pitching their ideas. Von Behr highlighted the role of PAM as a practice ground for founders, allowing them to refine their pitching skills and increase their chances of success in presenting their ideas to investors.

Stephanie von Behr said, "In our accelerator, we focus on early-stage entrepreneurs who typically have not had a chance to meet an investor yet. Pitching is a key skill they need, but it is tough without practice or access to real investors. That is where PAM comes in. It is like a practice ground for these founders, giving them a fair shot at getting their ideas out there."

R/GA UK originated and developed PAM, an interactive platform where users can upload and present their pitch presentation from any global location. PAM empowers users to improve their pitch confidence, refine their narrative, learn best practices, address challenging questions, and receive immediate feedback and actionable ways to enhance their pitch.

Furthermore, R/GA designed PAM to incorporate a pitch dashboard, a crucial home base that tracks user progress as they improve their pitching. In addition, the platform is furnished with an immersive live pitch room, simulating the tension of a genuine VC pitch and allowing users to address any areas that require additional clarity. PAM has been introduced in BETA testing within the Founderland community of entrepreneurs, with plans to extend its usage later in the year.