Today we’re proud to highlight the NFTE Elevator Pitch Challenge 2010, Presented by E*TRADE Bank. As part of the Network for Teaching Entrepreneurship’s 2010 OppenheimerFunds /NFTE National Youth Entrepreneurship Challenge, teen entrepreneurs representing 22 businesses get 30 seconds to sell their ideas to the world in an online video “elevator pitch,” and a shot at $2,500 and two round-trip plane tickets donated by Southwest Airlines to help get their idea off the ground or advance their education. We’ll be presenting more on pitching your business in the coming weeks – but the challenge has already started! The competition is from September 14th through October 3rd, and you can read more about the competition online.
Oh. What is an elevator pitch, you say? Good question. The scenario is simple: you get on an elevator and right behind you comes a successful investor. They have the money and support you need; you have the inspiration they seek. You have a captive audience for the 30 seconds between NOW and when the doors open again.
How do you make an impression? By answering these questions in an inspiring way…
Who are you? Who is a part of the business?
What is your product or idea?
Who will be buying it, and how much does it cost?
How do you stand apart from the competition?
Answer these well (and quickly!) and you could be on your way to start-up heaven. Every entrepreneur (and newpreneur) can tell you the importance of having a great elevator pitch. Leave your own tips in the comments!
We’ll have more information on the 2010 Challenge to come, but for now make sure you CAST YOUR VOTE HERE. Each of these ideas is exceptional – but there must be a winner!