Creighton University

Creighton's Second Annual Elevator Pitch Competition Saturday, April 5

24 student teams participated in Creighton's second annual "Elevator Pitch" competition Saturday, April 5, sponsored by Dundee Bank and Creighton's Collegiate Entrepreneurship Club (CEO) and open to all Creighton students across campus.  Four student teams took home prizes this year:  Lauren Dwyer (first prize of $500), Lindsey Bierman (second prize of $250) and Stephanie Cantrell and Dee Kimata (tied for third prize of $100).  Lauren, a Creighton physics major, made a pitch for a compression dynamics product that reduces swelling after surgery.  She and her team, all members of Creighton's new Bioscience Entrepreneurship Program, are working with an Omaha vascular surgeon, Dr. Martin Winker, to devise a plan for commercializing the technology he invented.  To get more information on the CEO club and their other activities or to be added to the club mailining list, please contact paulsimmet@creighton.edu or ryangensler@creighton.edu or follow the link to the CEO Club on this site.  For more information about Creighton's new NSF-funded Bioscience Entrepreneurship Program, please contact Dr. Anne York at anneyork@creighton.edu or visit the website at www.creightonbep.org or see the application information linked to this entrepreneurship website.

Results from Creighton's First Annual Elevator Pitch

Creighton's first major entrepreneurship event, sponsored by the c-e-o club and First National Bank, took place on Saturday, April 14, 2007.  The "elevator pitch" competition, in which  twenty student teams pitched their business ideas to banker Brent Blume and PayFlex CEO Mark Huber, required students to prepare and present a 60 second presentation.  Winners received prizes of $500 (first place), $250 (second place), and $100 (third place).  The competition was open to all graduate and undergraduate students on the Creighton campus.   

What is an "elevator pitch"?

An elevator pitch is a 60-second (200 words or less) action-oriented description of a business designed to sell the idea of the business to another. It is longer than a vision statement or tagline.  It is not to be your mission statement—it should not only tell what you do or what you want to do, but get the person to buy in to what you are aiming to do.  It may sound like a sales pitch.. that is the idea.

What is the goal of the pitch?

•  The goal of an elevator pitch to a customer is to pique the listener’s interest enough to set a formal appointment for further discussion.
• The goal of an elevator pitch to a potential employee is to kindle a passion for your product or service.
• The goal of an elevator pitch for general networking is to ensure that the other person leaves with your key message
• The goal of an elevator pitch to a family member is for your parents to keep supporting you and your uncle to introduce you to that angel investor he claims to know.

How should I deliver my pitch?

1. Lead with a hook
2. Purpose of the service/product (how your firm/product/service is unique or superior to competition)
3. Where the business is now
4. What type of capital is needed

How should it sound?

• If a person asks you a question, you have the answer, and you can then go on with the rest of your information
• It should not be memorized/robotic
• You should be excited about what you are pitching. The person should be able to hear the passion in your voice
• You aren’t being graded, you are being awarded capital

Judging Criteria

 Presentations will be judged on the following five criteria worth ten points each: 

1) Team pitch is presented in clear, concise, and logical form; presenters conveyed confidence, enthusiasm, professionalism and stayed within the 60 second time frame
2) Elevator pitch is creative, energetic and delivered a memorable message
3) Product or service concept and the benefits customers would receive are clear and compelling
4) Market opportunity and potential returns are clear and compelling
5) Team is believable

Note:  using visual aids and relevant costumes is always a good idea!

Resources
http://andrewbfife.blogspot.com/2006/01/great-elevator-pitches-intro.html