As Web Summit Vancouver approaches, Innovate BC has been ramping up support for BC’s tech startup ecosystem through the Road to Web Summit Vancouver (R2WSV) initiative and its Beyond the Pitch event series. As part of that series, Innovate BC hosted The Investor’s Perspective: Building a Fundable Startup, focused on preparing founders to effectively engage with global investors. With over 600 investors expected to attend Web Summit (60% VC, plus LPs, angels, CVCs, accelerators, and more), understanding how to stand out is more crucial than ever.
Here are some highlights from the panel session, with insights from Thealzel Lee (Director, E-Fund), Kal Deutsch (Managing Partner, Batchery), and Sejung Yun (Investment Manager, Colopl Next, Inc).
The Investment Landscape is Shifting
Over the past year, investor expectations have become sharper. With economic uncertainty and a crowded AI space, startups are being asked to show not just innovation but evidence – proof of traction, real demand, and lean execution.
“As the AI horse race is emerging, there is a strong focus on the lean AI movement and the productivities you can ring out of a company early on.” – Kal
“We’re looking for product-market fit and market traction proof.” – Thealzel
“The time to market and the time to validation has really been expedited over the last couple of years.” – Sejung
What Investors Look For: Product, Market, Team
When evaluating early-stage companies, investors want to see how well a team understands the problem they're solving, how big the market opportunity is, and why they’re the right people to execute. Growth mindset and adaptability are seen as critical attributes.
“Team and product-market fit account for 80% of the failures of the 90% of startups that fail.” – Kal
“Can you pivot to the right market? A team with a growth mindset sees opportunity and adapts.” – Thealzal
“We assess how big of a problem you're tackling, how your product solves it, and what qualifies your team to win.” – Sejung
Red Flags & Green Lights
Investors are quick to notice when a startup leads with tech instead of market need. Green flags include founders who are deeply familiar with the problem space and demonstrate transparency and traction.
“If the language starts with the solution and product, you’re making it a struggle to figure out where you fit in the marketplace.” – Kal
“Tech looking for a market is a red flag. It signals a lack of customer discovery and a missing growth mindset.” – Thealzel
“Founders close to the issues they’re solving – those are the ones who usually care more and go further.” – Sejung
Valuation: Art, Not Science
Setting valuation is more about strategy than formulas. The panelists warned against inflated numbers based on irrelevant comparables, encouraging founders to focus instead on realistic capital needs and milestone planning.
“The constant complaint right now is startups using comparables that just aren’t comparable.” – Thealzel
“My advice to founders is raise small and raise quick.” – Sejung
“When you raise one million dollars, you just increase value of your company by one million dollars —but if you grow revenue to one million dollars, depending on the multiples of your industry, your value could jump by two million to 20 million because of that million.” – Kal
How to Get on an Investor’s Radar
Warm introductions still carry weight, but consistent visibility in the startup community is just as important. Doing your homework on investor fit, showing up to events, and offering value before asking for money can go a long way.
“The amount of effort I get is the amount of effort I give back.” – Sejung
“Study your targets, understand their thesis and check size, and make sure they’re not already backing a competitor.” – Kal
“Attend every pitch event – not just to pitch, but to learn what investors are looking for and use them as your own KPIs.” – Thealzel
Beyond Capital: What Great Investors Offer
The best investors don’t just write checks – they open doors, ask the tough questions, and help founders prepare for what’s next. Founders should prioritize values alignment and consistent engagement over transactionality.
“The best investors are the ones that understand your industry and your stage.” – Thealzel
“If you don’t mesh with an investor on day one, that’s a red flag. You need to like working with them.” – Sejung
“Investments backed by thorough due diligence – measured in tens of hours – lead to stronger outcomes and deeper engagement. In fact, investor check-ins twice a month instead of twice a year can lead to a 500% improvement in portfolio returns.” – Kal
Bonus Tips for Success at Web Summit Vancouver
- Download the event app early and explore its features.
- Send meeting requests in advance – don’t wait until you're onsite.
- Have your 2-minute pitch ready – clear, focused, and compelling.
- Use the app filters to find relevant investors, sessions, and speakers.
Make sure to check out other upcoming R2WSV events and opportunities over on our events calendar, and if you’re a B.C. startup that has already been accepted into the Web Summit Startup Program and are participating in the B.C. Pavillion, then keep an eye out for an invite to Innovate BC’s exclusive Web Summit Bootcamp on May 15th.
