December 18, 2019 3 min read
This episode starts off with a strong pitch from Sara Rose, the co-founder of healthcare startup Tribecan, who showcases her long history within her niche, her business expertise and her willingness to negotiate. This last aspect is particularly noticeable for the judges when Rose asks for a $75,000 investment without specifying her company’s valuation.
Entrepreneur Elevator Pitch invites ambitious entrepreneurs to step into the Entrepreneur Elevator, then gives them just 60 seconds to pique the interest of a group of judges. 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 via a video livestream while the elevator ascends to the boardroom floor. Once the 60 seconds are up, the judges vote on whether to open the doors or send the founder back down and pass on investing.
The fifth season of Entrepreneur Elevator Pitch offers a dynamic change in the show’s format. Before, our four judges needed unanimous agreement to make an offer to the pitching entrepreneurs — including three out of four “yes” votes just to open the elevator doors. Now, it only takes one investor to open the doors and one judge to make an offer. The panel of four can then choose whether they want to collaborate or compete against one another.
Related: Entrepreneur Elevator Pitch Season 5 Episode 9: ‘Don’t Stop! Come On, Dude!’
This episode starts off with a strong pitch from Sara Rose, the co-founder of healthcare startup Tribecan, who showcases her long history within her niche, her business expertise and her willingness to negotiate. This last aspect is particularly noticeable for the judges when Rose asks for a $75,000 investment without specifying her company’s valuation.
While this raises a few eyebrows, the pitch is strong enough to get four yes votes from our judges, and the elevator doors open. But will she be able to convert that initial interest into the convertible note she’s seeking?
Next, a pair of co-founders in the automobile industry describe their business-to-business platform, which allows auto shops to pick up or drop off vehicles in need of repair, as well as allowing consumers to track progress on their vehicles. While the company’s pre-revenue status and lofty ask is too much for most of the judges, they only need one investor to open the doors for them. Will they find one believer among the panelists?
Watch the full video to find out and see more great pitches.
