From 50 pitch decks to rejection resilience
How learning from rejection and finding inspiration in others shaped Audrey’s journey as a startup founder.
Fundraising is often described as a numbers game, but for founders, it’s much more than that—it’s a test of resilience, adaptability, and belief in their vision.
I first came across Audrey through her LinkedIn post about sending out over 50 pitch decks in her quest to raise funds. What stood out wasn’t just the sheer number but her persistence despite rejections. I knew I had to hear her story.
Audrey, the co-founder of Tsuin AI, shared how she and her co-founder, David, started their journey during the Antler accelerator program in Malaysia. Though they didn’t secure funding from Antler, they pressed on, refining their pitch deck with each rejection and adapting to different investor preferences.
From adjusting market sizing approaches to rethinking free trials, Audrey’s story is a testament to how founders must learn, iterate, and push forward—even when the odds seem against them.
Rei: Thank you for being on the show today. Let’s jump right in. I got to know about you from your LinkedIn post where you shared your journey of sending out over 50 pitch decks to raise funds. It was incredibly encouraging, especially when you emphasized not stopping despite rejections. The first thing I thought when I saw that post was, “I need to speak to Audrey.” I’d love to hear your story. Let’s start with the 50 pitch decks—did you tweak each one to suit the specific investor?
Audrey: Yes, absolutely. But before diving into that, let me share a bit about how we founded our startup, Tsuin AI.
We started Tsuin AI back in November last year during the Antler program, which is a 10-week accelerator program in Malaysia. That’s where David, my co-founder, and I came up with the idea for Tsuin AI. Throughout the program, every Friday, we had to pitch to different investors who were invited to the office. It was a learning experience because we weren’t just trying to secure the Antler fund by the end of the program but also learning from every pitch and every piece of feedback we received.
The journey of creating over 50 pitch decks in the past five months started during those weekly pitches. Each week, investors provided feedback on our deck, and we made improvements accordingly.
Rei: So every week you were pitching to investors, gathering feedback, and refining your pitch?
Audrey: Exactly. I vividly remember one investor from Thailand during the ninth week giving me an important piece of feedback. He said, “Up until slide seven, I understand what you’re trying to convey. But from slide eight onward, I have no idea what’s happening.” That was a turning point—it showed me that the first seven slides were solid, but slides eight through ten needed extra work.
At the end of the 10 weeks, unfortunately we didn’t secure Antler’s funding. That was a tough moment for us because it felt like a setback after all the hard work.
Rei: That must have been disappointing. What was next for you after that?
Audrey: Yes, it was disappointing, but David and I discussed whether we wanted to continue pursuing this idea, and we decided to keep going. That’s when we started bootstrapping and applying for funding opportunities through venture capital firms and accelerator programs.
The LinkedIn post you mentioned was about this phase of our journey—we hadn’t secured funding yet, but I wanted to share our persistence and determination. Rejections became a regular occurrence—nine out of ten responses were rejection emails. Just this week, I received two more rejections. I’ve become numb to them now because my co-founder always tells me, “Just apply and forget.”
Rei: That’s a great mindset—apply and move forward without dwelling too much on rejections. You mentioned tweaking your approach depending on the investor or program. How did you adapt your pitch?
Audrey: Yes, every investor or accelerator program has different preferences. For example, during the Antler program, I learned they preferred a top-down approach when explaining market sizing. However, in another accelerator program I joined later—Cyberview Living Lab Accelerator—they preferred a bottom-up approach to market sizing. These nuances required us to tweak our pitch deck constantly to align with their expectations.
On top of that, masterclasses from these programs helped me refine our go-to-market strategy and business model. For instance, I realized offering free trials could send the wrong message about our product’s value and confidence in it. Instead of offering something entirely free for an extended period, I decided to charge a nominal fee for a limited trial period to show that we stand behind our product while giving customers a chance to try it out.
Rei: That’s an interesting insight. What made you realize offering free trials might not be the best approach?
Audrey: Just recently, I came across another founder who was offering their technology for free for 12 months. Their product uses computer vision to monitor fish farming operations and optimize feeding schedules. While the idea was great, I couldn’t help but think: if you’re offering it for free for so long, are you confident in your product’s value? It could give the impression that the product is still being tested rather than ready for real use.
Instead of doing something similar, I decided to charge $13 after a 13-day trial. This way, customers can evaluate our product with minimal risk while showing that we believe in its value. If they don’t like it after two weeks, they can unsubscribe without much loss on their end or ours. This shorter trial period also gives us quicker feedback on whether someone is likely to convert into a paying customer.
“If you’re offering it for free for so long, are you confident in your product’s value?”
- Audrey Aui Yong (Co Founder Tsuin AI)
Rei: That’s a smart approach—it saves time and tests both customer interest and product-market fit quickly. It sounds like you’ve learned a lot from this journey so far! Rejections are tough at first—how did you manage them early on?
Audrey: Initially, rejections hit me hard—especially during the Antler program because many people thought my team had a strong chance of securing funding. When we didn’t get selected, it felt like getting hit by a truck from behind!
It was my first major rejection as a founder, so I took it personally at first—I spent weeks analyzing what went wrong. Was it my pitch delivery? Was my story unclear? Did I mess up during the Q&A session? Self-reflection helped me identify areas for improvement but also became overwhelming at times.
Thankfully, my co-founder had been through rejections before and gave me great advice: “Don’t compare yourself to others; compare yourself to who you were yesterday.” That mindset shift helped me focus on improving my pitch rather than getting stuck on what went wrong.
Rei: That’s excellent advice—comparing yourself only to your past self keeps the focus on growth. Did you track your progress over time?
Audrey: Yes! I kept all versions of my pitch deck and would revisit earlier versions occasionally. It was motivating to see how far I’d come since the start of the Antler program. Even friends who weren’t founders but were experts in other areas gave me feedback on how much my deck had improved over time.
Rei: That’s fantastic—tracking progress is such an important part of growth as a founder. Do you have any advice for other startup founders about pitching their ideas?
Audrey: My biggest advice is to watch others pitch and learn from them—I have an idol when it comes to pitching: Yanni from Entomal Biotech. She works with Black Soldier Fly waste management and delivered an amazing pitch at Tech In Asia KL last year. Her delivery is captivating; she uses powerful language and grabs attention with phrases like “now is the time” or “this is a billion-dollar opportunity.”
I reached out to her on LinkedIn to tell her how much I admired her pitching style. She shared that she had worked with communication coaches and participated in many accelerator programs that helped refine her skills over time.
Rei: That’s inspiring! It shows how important it is to learn from others and constantly refine your craft. Thank you so much for sharing your journey today—it’s been incredibly insightful!
Audrey: Thank you for having me! The journey has been challenging but rewarding in so many ways. Fundraising is definitely a marathon with no defined finish line—but every step forward counts!
Key takeaways from Audrey’s fundraising journey:
✅ Iteration is key – Every investor’s feedback refined her pitch deck, making each version stronger.
✅ Rejections are part of the process – Audrey received 9 out of 10 responses as rejections, but persistence was the game-changer.
✅ Investor preferences vary – Learning the difference between top-down vs. bottom-up market sizing helped her tailor her approach.
✅ Confidence in your product matters – Offering a short paid trial instead of a long free trial signals belief in the product’s value.
✅ Learn from the best – Watching other great pitches helped her improve her delivery and storytelling.
Fundraising isn’t a straight path—it’s a marathon with no defined finish line. But every step forward counts.
Watch the full interview here!
What’s your biggest lesson from pitching? Let’s talk! 🚀
About Audrey Aui
Audrey Aui is the CEO and co-founder of Tsuin.ai, where she’s building AI digital twins to help software teams avoid technical opportunity loss. Her work is reshaping how engineering teams operate. Audrey also hosts The Mini CEO Podcast, where she uncovers real, behind-the-scenes stories from startup founders navigating tech, AI, and early-stage challenges.