Rowan University Elevator Pitch Contest, Fall 2009

About the Fall 2009 Elevator Pitch Contest:

An elevator pitch is an entrepreneur's short explanation of his/her business idea. The pitch can be delivered in the time it takes to ride an elevator to the top. It is directed at anyone who might provide funding or other support for a business startup.

The Rowan C.E.O. Elevator Pitch Competition involves students in a realistic entrepreneurial exercise. It may be a stepping stone to help students to ”prime the pump” for future Business Plan Competition entries. Your big idea may or may not be ready for launch as an actual enterprise. Presenting an idea does not require you to pursue the creation of that particular company. The main goal is to develop experience in developing and organizing your creative business idea in writing and in a persuasive speech. The Pitch will tell your audience about your product, how you will run your business, and your vision for its success!

Goals and Outcomes for those who enter:

- Challenge to your creativity and business acumen.
- Learning the art of pitching a business idea and enhance presentation skills.
- Publicly showcasing your talent and passion for Entrepreneurship.
- Gaining feedback from business leaders who give encouragement and coaching.
- A trip to Chicago for the top 3 finalists..

Who may enter:

- Students enrolled at Rowan University in Fall 2009 taking E&I.
- Entrepreneurship Majors enrolled Fall 2009.

Process for Preparing the Pre-qualifying Written Pitch:

• Develop a 300 word written pitch (no more/no less) that includes the essence of your business proposal and includes the following key points.:

1) the product description (and the problem it solves),
2) the market for your product (who will buy it),
3) your marketing strategy (how you will market it), and
4) the ‘raise’ (how much financing you need, how you will get it and the expected return on investment.)

• Submit your 300-word written Pitch no later than 10:00 pm on Tuesday, September 15 via our contest website on www.younoodle.com. Once you submit your entry on the webpage, you may not to change your work. Save your Pitch in MSWord 2003 file. (PLEASE DO NOT UPLOAD DOCX files -- .docx will not work -- many judges have not upgraded to the latest windows version.)

• Results will be announced by email on Tuesday, September 22.

• The top 10 scoring ideas will be invited to compete in the final public contest and judging on Friday, September 25.

• The “top 10” semifinalists will receive an invitation to move on to the final stage of the contest.

• An additional 10 runner up “lucky losers” will be named and tapped to compete if any of the top 10 are unable or unwilling to participate in the live presentation on September 25

Process for Elevator Pitch Finals: September 25, 2009 – 12:30pm – 2:30 pm

• Each finalist gives a presentation lasting 120 seconds/2 minutes before judges and the audience.

• You may NOT use note cards or PowerPoint. You must present your pitch from memory.

• You are strongly encouraged to provide an illustration of your idea. You may use one prop – ideally, a prototype or model of your product.

• Judges may ask short clarifying questions.

• After all contestants finish and a brief intermission, judges’ scores will be tallied and any ties will be broken by discussion among judges.

• Winners will be announced immediately following conclusion of the judging.

Prizes:
1st – 3rd Place: Free Trip to the National CEO Conference October 22-24.

Judging and Scoring: The following factors will be criteria for judging.

• The idea/opportunity is creative, original, and memorable.
• The product and/or service address a real need by customers.
• The market opportunity is substantial.
• Potential returns are compelling and believable.
• The pitch information is presented in a clear, concise, and logical order.

Rowan alumni from a variety of campus majors and years wiill serve as the judges for the written proposals. Entrepreneurs from Southern New Jersey will judge the presentation finals.


While any of the "top 10" may compete in the finals, the Chicago Trip is available only to students in good academic standing (not on probation) and who are matriculated at Rowan University in a program.