Elevator Pitch Competition

 

Purpose of Elevator Pitch Competition:

To allow participants an opportunity to orally present their ideas to people who would potentially be funding the idea.

Overview and Structure of Competition:

The elevator speech will allow judges to assess the commercial strength of the new idea by listening to the content and persuasiveness of the speaker. The analogy was derived from the short duration of an elevator ride; what would you say if you happened to get into an elevator with someone who could buy or fund your idea? The goal would be for your Elevator Pitch to get you an opportunity to make a formal presentation.

Each participant will have a maximum of two (2) minutes for their elevator pitch, which should answer several key questions:
 

• What is your vision?

• What is new or unique about this idea?

• Who are your customers and why will they want this?

• Why is your idea going to be successful?

• Who else is doing it?

• Why should an investor be interested?

• What specifics do you have to support your case?
   

For useful tips on how to present an elevator pitch, please visit.

http://faculty.babson.edu/academic/sye3/RocketPitch/Student/index.htm
 

Participants will be rated by an interdisciplinary panel of industry professionals.

Watch Sample Elevator pitch (Video taken from SVNIF, 2004 Competition)
 

Criteria for Judging:

Presentation Quality (20%)

	Not at all									Extremely
How well did the headline encapsulate the key essence of the idea? Did it immediately catch your interest and make you want to learn more?	1	2	3	4	5	6	7	8	9	10
How professional and polished are the presenters? Did they complete within the 2 mins’ time limit?	1	2	3	4	5	6	7	8	9	10

 

Communication of the Idea and Its Value (20%)

	Not at all clear									Extremely clear
Have the contestants clearly explained their idea? The explanation should be clearly communicated and memorable.	1	2	3	4	5	6	7	8	9	10
Have they clearly explained the value/benefit of their idea and why an investor should be interested?	1	2	3	4	5	6	7	8	9	10

 

Knowledge of the Target Market (20%)

	Not at all clear									Extremely clear
Have they clearly identified the customers and market need for this idea/concept?	1	2	3	4	5	6	7	8	9	10
Have they used specific examples, data, and research to demonstrate the customer/market need?	1	2	3	4	5	6	7	8	9	10

 

Competitive Edge/Uniqueness of the Idea (20%)

	Not at all									Absolutely
Does this idea provide an innovative solution that is differentiated from competitors’ offerings?	1	2	3	4	5	6	7	8	9	10
Does the idea have a defensible barrier to entry by copycats?	1	2	3	4	5	6	7	8	9	10

 

Feasibility and Practicality (20%)

	Not at all									Absolutely
Have they used specifics to support the feasibility of their idea? Have they identified what is needed to succeed (e.g., skills, money, time)?	1	2	3	4	5	6	7	8	9	10
How feasible/realistic is it for this idea to become an actual product/service?	1	2	3	4	5	6	7	8	9	10

 

Did the speaker complete the presentation within 2 minutes? Y/N If No, deduct 10 points.

Total points: