Center for Entrepreneurship
Elevator Pitch Competition
Get ready for your chance to impress the judges with your awesome business idea and have a chance to win some prize money to start your business!
You'll have 60 seconds to 'pitch' your business idea to a panel of judges.
To register for the competition, click here.
|
Prize Money | |||
| Ages | 12-19 | 20-25 |
|
| First Prize | $300 | $500 | |
| Second Prize | $200 | $250 | |
| Third Prize | $100 | $125 | |
What your One Page Submission Must Contain:
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*Maximum of 300 words using 12 font and 1.5 line spacing.
*There is no formal structure, but use the following article, "The Art of the Elevator Pitch" by Robert Pagliarini, to write your best pitch.
What is an "Elevator Pitch"?
An "Elevator Pitch" is a concise, carefully planned, and well-practiced description about your company that your mother should be able to understand in the time it would take to ride up an elevator.
What an "Elevator Pitch" is not:
It is not a "sales pitch." Don't get caught up in using the entire pitch to tell the Investor how great your product or service is. The Investor is "buying" the business, not the product. Tell him/her how you will run the business.
Creating the "Elevator Pitch"
Six questions your "Elevator Pitch" must answer:
1. What is your product or service?
Briefly describe what it is you sell. Do not go into excruciating detail.
2. Who is your market?
Briefly discuss who you are selling the product or service to. What industry is it? How
large of a market do they represent?
3. What is your revenue model?
More simply, how do you expect to make money?
4. Who is behind the company?
"Bet on the jockey, not the horse" is a familiar saying among Investors. Tell them a little
about you and your team's background and achievements. If you have a strong advisory
board, tell them who they are and what they have accomplished.
5. Who is your competition?
Don't have any? Think again. Briefly discuss who they are and what they have
accomplished. Successful competition is an advantage-they are proof your business model
and/or concept work.
6. What is your competitive advantage?
Simply being in an industry with successful competitors is not enough. You need to
effectively communicate how your company is different and why you have an advantage
over the competition. A better distribution channel? Key partners? Proprietary
technology?
What your "Elevator Pitch" must contain:
1. A "hook"
Open your pitch by getting the Investor's attention with a "hook." A statement or question
that piques their interest to want to hear more.
2. About 300 words
Your pitch should go no longer than 60 seconds.
3. Passion
Investors expect energy and dedication from entrepreneurs.
4. A request
At the end of your pitch, you must ask for something. Do you want their business card, to
schedule a full presentation, to ask for a referral?
Judging Critera:
- Content
- Identifies and describes business
- Gains interest with a "hook"
- Identifies target market
- Solves customer problem; adds value
- Indicates how they are better; different
- Makes listener want to know more
- Delivery
- Does not exceed 60 seconds
- Prepared vs. gap in content
- Good posture and eye contact
- Good voice projection and enunciation
- Confident and convincing
- Passionate
Note: In order to compete in the competition, you must be registered to attend the Youth Entrepreneurship Conference.