Can these entrepreneurs convince the judges to invest in crowded fields like coffee and fashion?
July 24, 2019 2 min read
Entrepreneur Elevator Pitch invites ambitious entrepreneurs to step into the Entrepreneur Elevator, then gives them just 60 seconds to pique the judges’ interest. It’s a high-pressure, fast-paced environment in which startup founders need to race against the clock while maintaining their composure to make a clear, deliberate pitch that covers at least three essential components:
- Defining the company
- Making the request
- Specifying what the investment money will be used for
The investors watch the pitch through a video livestream while the elevator ascends to the boardroom floor. Once the 60 seconds are up, the group votes on whether to open the doors or send the founder back down and pass on investing.
Related: Entrepreneur Elevator Pitch Season 4 Episode 7: ‘Open the Doors, Let’s Talk’
The first founder in this episode has a big ask for our investors: $250,000 on a $4 million valuation. The only problem? The company hadn’t actually made any sales on its mushroom-based jerky. Will the tastiness of samples and promise of an Amazon partnership sway our judges to open the doors?
After, an entrepreneur in the fashion industry fumbles his pitch, leading the judges wondering about basic questions like what the company is and whether it has products. Then, the founder of an eco-friendly instant coffee company impresses the judges with his progress but has to wrestle with the fact that he is still very early on in the process. Will he able to convince the investors that he’s worth the risk?
To see the answers, watch more pitches, and check-in with one of the companies from seasons past, click play.
Entrepreneur Elevator Pitch in partnership with Sports 1 Marketing streams Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.
