The "Bronco Idea Challenge" (BIC) contest is an extra-curricular activity launched by the School of Business and Economics to encourage students to develop entrepreneurial and creative thinking.
What is an Elevator Pitch?
Creating an effective Elevator Pitch means addressing the three key factors - What is the problem that your business solves? How do you solve it? What do you need to make it happen? An Elevator Pitch is an opportunity to place students and their ideas in front of a qualified panel of judges made up of entrepreneurs, investors and other people who can help make your idea a reality. In addition to judging the competition, the panel will give feedback on the ideas and presentations. Think of your "pitch" as the first step toward creating the business of your dreams. Cash prizes will be awarded to the winning pitches!
What topics should be included?
An elevator pitch is a concise and well-practiced description of a business venture that you would deliver if you found yourself in an elevator with a potential investor. In less than 2 minutes, your pitch should describe the following:
- Product or service description
- Market and its size
- Leadership team
- Competition and competitive advantage
- Financial expectations and startup capital requirements
What are the judging criteria?
- The idea/opportunity is creative, original, and memorable
- The product and/or service addresses a real need by customers
- The market opportunity and potential returns are compelling and believable
- The pitch information is presented in a clear, concise, and logical order
Who can participate?
Any currently enrolled Fayeteville State University full time undergraduate student can participate individually or as a team member with other FSU undergraduates. Students are encouraged to create interdisciplinary teams of students of up to three students with members from any major and any level of credit hours completed. Individuals can enter the competition each year but cannot pitch the same business venture if it has placed first, second or third in prior years.
March 27 (Monday) video presentations (no PowerPoint slides or added visuals) are due to Dr. Caroline Glackin at CGlackin@uncfsu.edu by midnight.
April 4 (Tuesday) - finalists will be notified of their opportunity to advance to the live finals.
April 11 (Tuesday) - final live pitches in front of judges and audience - Fayetteville State University; 5:00 p.m.; Shaw Auditorium
The awards presentation will be immediately following judging.
First Place - $500
Second Place - $300
Third Place - $150