DRIVE STARTUPS We Present Latest Startup News, Tips & Inspiration
At times, it seems the contestants on our weekly streaming pitch show have the upper hand over our board of investors.
3 min read
Sometimes, an elevator pitch is so persuasive, it leaves the listener feeling like they have no choice but to learn more — or throw their money at an idea before someone else does.
On Entrepreneur’s fast-paced pitch show, Entrepreneur Elevator Pitch, contestants get one minute to convince a panel of prominent investor judges they’ve got the next billion-dollar idea. As they ascend in the Entrepreneur Elevator, the judges sit listening via livestream in the board room above. As the clock counts up to 60 seconds, the entrepreneur quickly explains their product and makes an ask for an investment.
The judges then conference and cast votes: Should they open the Entrepreneur Elevator doors to try to make some money off the contestant’s idea? Or should they turn down the opportunity and send the entrepreneur back down?
Related: Entrepreneur Elevator Pitch Season 3 Episode 4: ‘It’s the Uber of Pooper’
This week, the companies on display include a new way for kids to play a popular sport, a platform to help gamers interact, a women’s garment that may or may not be necessary and a tech solution to personalize phone calls.
The judges might not know what an entrepreneur wants out of the deal at first, but the prospect of making money sometimes gets them too curious to pass up a face-to-face meeting. If they bring the entrepreneur in, chances are one party will make the other an offer they can’t refuse.
Sometimes they compromise on a path forward even when the business model is a bit murky. After all, investors don’t just provide money. They can help workshop the fledgling company. Assistance with business development and referrals to experts in their network are part of the package.
In this episode, there’s at least one entrepreneur who makes the judges admit they feel lucky to have the chance to invest. (Hearing the word “billion” in the pitch doesn’t hurt their chances, either.) Another pitch hits home: A common hobby among the investors’ own kids makes them realize the promise of a data-driven, social media-inspired service.
Will they shake on a deal? Stream this week’s episode of Entrepreneur Elevator Pitch to find out.
Entrepreneur Elevator Pitch in partnership with Sports 1 Marketing streams Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.
Source link
