Shepherd University students will have the opportunity to win cash prizes for their business ideas, according to an email faculty received on behalf of vice President of student affairs Dr. Thomas Segar encouraging them to notify their students of an upcoming “elevator pitch” competition.
“Creating an effective Elevator Pitch means addressing the three key factors – What is the problem that your business solves? How do you solve it? What do you need to make it happen?” reads the email. “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 elevator pitch will give students an opportunity to pitch their ideas in front of a panel of judges made up of entrepreneurs, investors and other people who can help make their ideas a reality, according to an email.
The emails says that the judges are looking for ideas that are creative, original, and memorable, products or services that address real needs of customers and with market opportunities and potential returns are compelling and believable.
Any undergraduate at Shepherd University can contribute and can work alone or in a group.
Video presentations must be sent to Dr. Caroline Glackin at CGlackin@shepherd.edu by midnight, April 9. Finalists will present to judges April 16, and the final presentations and awards ceremony will take place in front of an audience April 23.
First place will be awarded $500, second $300 and third $150.