Elevator Pitch Competition
Purdue University's Elevator Pitch Competition was created in 2006 and is hosted by the Certificate in Entrepreneurship and Innovation Program. The competition gives participants two minutes to describe the value of their entrepreneurial business venture to a panel of judges. There are two divisions in this competition: one for Purdue Certificate in Entrepreneurship and Innovation undergraduate students and another for staff/faculty entrepreneurs, graduate students, representatives from Purdue Research Park companies or Certificate Program Alum. Winners in each category receive prizes of $1,000 for first place, $500 for second, $250 for third and $500 for most entertaining. The competition has several sponsors including Otis Elevator Company- marking its 7th consecutive year.
Definition of an Elevator Pitch (Wikipedia)An elevator pitch (or elevator speech) is a brief overview of an idea for a product, service, or project. The pitch is so called because it can be delivered in the time span of an elevator ride (say, thirty seconds or 100-150 words). The term is typically used in the context of an entrepreneur pitching an idea to a venture capitalist to receive funding. Venture capitalists often judge the quality of an idea and team on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitch to quickly weed out bad ideas. It is said that many of the most important decisions made on the floor of the United States's House or Senate are made "within the span of an elevator ride" as a staff aide whispers into a Congressman or Senator's ear while they head down to the floor to cast their vote.
The judging panel consists of experienced entrepreneurs and business professionals. All judges have experience in, or exposure to, successful innovative businesses, early-stage technology development process and understand the research, development, and business-formation challenges faced by different types of businesses.
Intellectual Property Attorney & Bingham Greenebaum Doll, LLP Partner
Chief of Staff to the President, Purdue University
Bob Falk President and CEO of Purdue Federal Credit Union John Gorup Lead Surgeon, Indiana Spine Center Oscar Moralez Managing Director of StepStone Business Partners & StepStone Angels Ben Wehner Equipment Account Manager for Otis Elevator Company
For more information, contact the Certificate in Entrepreneurship and Innovation Program.