It is nerve-wracking pitching your startup to anyone, let alone a king.
London-based Magic AI, maker of a smart mirror that offers training tips, was recently awarded the King's Award for Enterprise in the innovation category. Earlier this month, CEO Varun Bhanot went along to St James’s Palace to pick up the prize.
“I was very nervous,” he says. “It was 31 degrees and I was in a suit and tie, which isn’t normal for me by any stretch. There was a good crowd of us. It felt a bit like when all the tech guys have to get dressed up to meet Trump.”
By now, Bhanot is well practiced in pitching his company. But a royal reception added a new edge. Describing the moment he was expected to shake the king’s hand, “I did fumble my words a bit,” he admits.
“I told him we were in AI, and he said: ‘What sort of AI?’ ‘Oh, one that helps make people fitter,’ I said. ‘Is that good AI?’ the king replied. He seemed vaguely familiar with us.”
Luckily, Bhanot had done his homework. “I told him I’d run the London marathon recently to raise money for a charity that he is a patron of.
"I actually wore our mirror as a costume on the run, which I also tried to explain to him. At that point, though, I don't think he could quite understand what I was talking about."
So how do you survive this kind of high-pressure encounter? Here are Bhanot's tips.
Keep it extra brief. “We all know that you don’t have much time with elevator pitches but you have even less time with a king. Also, think about what's actually interesting for him to hear, rather than simply selling your own company."
Get a wingman. “There was a guy next to me who helped break the ice. He spotted a Pimm's in the King's hand, even though there were no Pimm's on the menu. So we wondered if he'd brought his own bottle, or had a hip flask on the go. That eased things up."
Position yourself strategically. “As luck would have it, another guy beside me was telling the King about his vacuum services for concrete. It sounded very boring, but I thought it might make the King happier to hear about my business by comparison.”
Magic AI works with several celebrity instructors, including ex-Olympian Asha Philip and former cricketer Alastair Cook. Was Bhanot tempted to ask the monarch on board? “Well, we’ll now have The King's Awards seal on our packages. So technically he’s an ambassador.”
