About the Competition
What is an Elevator Pitch?
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. The pitch should describe:
- Your product or service
- Your market and its size
- How you plan to make money
- Your leadership team
- Your competition
Who is eligible?
The Springboard Elevator Pitch competition is open to all ACU undergraduate or masters-level students enrolled on a full-time basis during the fall 2012 semester.
Can I enter with a friend or partner?
Yes. Teams may include up to two students who meet the eligibility requirements.
How do I enter the competition?
All teams must register no later than 11:59 pm on Tuesday, November 6, 2012 in order to participate in this year’s competition. The registration fee is reduced to $10 for teams that register on or before Wednesday, October 31, 2012. Participants must submit the registration form with ALL required information and pay the applicable registration fee. Multiple submissions are allowed, however each submission will require a separate registration fee and form.
Early registration is strongly recommended to ensure preferred time slots for the first round of the competition as time slots will be allocated as registrations are completed. You can register online or by completing the registration form and submitting the applicable entry fee by cash or check at the eHub, located in the Moore House at 809 EN 16th Street, Abilene, Texas, 79601.
When and how will my team make its elevator pitch?
After registering, students will be asked to prepare and deliver a two-minute elevator pitch. Each elevator pitch will be given live in front of a panel of judges.
Teams are to arrive at the Mabee Business Building, on Saturday, November 10, 2012 at their assigned times. Teams will be given the opportunity to practice in a separate room for a few minutes before recording their pitch for the judges. After entering the judging room, teams will only have one chance to deliver their elevator pitch in front of the judging panel. Teams will sign-up for designated time as part of the registration process. Any questions can be e-mailed to firstname.lastname@example.org.
Additional instructions will be sent to participants after the registration process is complete.
How are finalists selected?
Each elevator pitch will be reviewed by a panel of live judges during the first round of the competition. Finalists will be selected based on the following criteria:
- Business Concept: How likely is the success of the concept? Does the business concept meet a customer need? Will the entrepreneurs be able to establish competitive advantage? Is now an attractive time to launch the business?
- Value Proposition: How well does the team articulate the venture’s value proposition to its customers? Is the value proposition convincing?
- Market: How attractive is the market the entrepreneurs have targeted? Is it a sizeable market and/or one with attractive growth potential? How likely is it that the team can enter the market successfully given the competitive landscape?
- Presentation Skills: How well did the team articulate its pitch? Did they speak clearly and concisely? Did they establish confidence as a team that they could execute their concept?
- Interest level in making an investment: After hearing the pitch, what is the investor's interest level in making an investment in the proposed venture? How attractive is the potential return or payback?
When will finalists be announced? What if my team makes it to the final round?
All contestants are expected to attend the final round of the competition, when the 10 finalists will be announced. Teams that qualify as finalists will be asked to deliver their two-minute elevator pitch before a live audience and panel of judges during lunch on Thursday, November 15, 2012.
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