EIE18 - Its awesome and its personal
Friday 20 April 7.30pm. Back from a long run in my most tranquil place. The red, gold and black Rosemarkie beach. My brain speed is still a hundred miles an hour. Thoughts forming and then breaking into splinters every second. I am still coming down from the adrenaline rush of EIE18. If you are reading this and spoke to me Thursday night or Friday morning - apologies. Chat was indiscriminate, overflowing stream of words and ideas.
This is an unusual feeling for me nowadays. One of the depressing aspects of experience (ie old age) is that not much feels new or thrilling. Too often I think I have seen it all before. So its a tribute to the tiny but brilliant team at Informatics Ventures. Ronnie, Steve, Danny and Jane pulled off an event and an experience with quite an impact.
As a result, what follows is a bit random. It my first attempt at reflection based on the few fragments of my own thought process I could catch. I have tried to translate them into English but not to impose any structure.
More than a day
As a company you live the EIE idea of more than a day. The scale of support and learning the team put together is incredible. Not everything works for everyone. But I bet each person that pitched came off stage reflecting on a few key things.
I guess if there’s a theme to this post its that personal experience. We tend to judge the event by its whole impact. But each individual entrepreneur benefits and grows in their own way. Trees not forest if you like.
A minute in time and a cold beer
I have done a lot of pitching and presenting. I am really comfortable speaking to bigger audiences on much more complex topics. I thought I had reached the stage of my life when rehearsing was not only unnecessary. It actually took away from my performance.
Having a fixed time of one minute changes that. You need to rehearse and practice. You need to simplify and clarify. You need to hook your audience. You will feel the pressure.
(Feedback note: Whoever you are, when you step off that stage you are ready for a cold beer.)
Values not details
Attention to detail is often evidence of professionalism and excellence. True excellence comes from values. The EIE team don’t have the capacity to get every single detail right. Yet the event is still world class. Detail alone is not enough, its values that count.
Maryanne Johnston is the personal pitch coach. I was in a proper grumpy old man mood the day I worked with MJ. (Apologies again Maryanne). She didn’t let it bother her, gave me the attention and coaching I needed and got the results (I hope!) The quality and confidence of the people on stage was a tribute to her coaching.
EIE has jumped about a bit during its 10 years. The ’18 staging was held in the McEwan Hall. After refurbishment, it looks beautiful. The combination of stunning architecture, history and connection to Edinburgh Uni is perfect. I hope they are able to keep it there.
EIO - O for Opportunity - Money isn't everything
I have never been a big fan of the last word in the acronym - Exploit?! The purpose of the event is to connect companies with investors. That’s cool. I spent the day listening and talking on behalf of a company. I took away a whole lot more than connections to potential investors. How about a name change?
Resources, sponsors and telling the story
I have already mentioned a couple of times, the EIE team is small. Each and every one of them does a great job. And the whole event is a perfect illustration of a forgotten principle. The best innovation comes when resources are most constrained.
Once you have a great product though, opportunities - that word again - open up. I am grateful to all the sponsors. But this thing is so good. We could be pulling in the really big names. Why not Google or Goldman Sachs or GE?
To do that we need to tell a story. And it needs to be different from the Scottish norm. Too often I hear about what Scotland needs from the rest of the world. EIE is something which would be a great opportunity for anyone. So let’s make it about what we can give not what we can get.
Nearly forgot - Triscribe
I was there pitching Triscribe. We are building analytics based on electronic prescribing data from NHS hospitals. Our software tackles problems like prescription errors and antibiotic usage. Its part of a global digital health movement. Data has the potential to bring more benefits than any amount of new drugs over the next 10 years.
I walked away more convinced than ever that Triscribe can do great things. I hope plenty of other entrepreneurs did the same.
NOT The Chairman's View
I applied for EIE18 to help Triscribe. But it was also a chance to put myself in other's shoes. The footwear of the entrepreneurs and founders I am lucky to spend most of my working time with.
Its been a profound learning experience about myself. That will make me a little bit better in all the roles I play. A perfect highland morning on the incomparable links at Royal Dornoch has cleared my mind a bit. Enough to write this post. Time will help me absorb it more.
My thanks again to everyone who makes it possible.
Kenny Fraser is the Director of Sunstone Communication and a personal investor in startups.