Winner of the Elevator Pitch Announced

9 04 2009

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In just sixty seconds, each NVC venture team had the chance to captivate the attention of five judges.

That’s right, the NVC Elevator Pitch Competition just ended at the NVC. One team member from each team had the chance to explain the team’s venture and why investors should choose their team.

The pitch competition is based off the idea that if a venture capitalist were to meet an investor in an elevator, would he or she be able to use that one minute of face-time to secure an investment.

Apparently, the necoPlastics team from University of Louisville has the ability to do just that. The team’s elevator pitch included both the team’s business plan and why investors should be interested in necoPlastics. The team that includes, Whitney Austin, Stevel Flaherty, Nick Jacoby, Charles Price and Jason Wade, won $1,000 for winning this round of competition.

PassPro-tech, the runnerup from the University of Texas at Dallas, also excelled in the elevator pitch portion of the event with the team’s explanation of its one-of-a-kind technology that allows users an easy and safe way to access networks. Stephen Dunlap and Ben Morrow make up the PassPro-tech team.

Check back to the NVC Blog to follow the competition’s events as they happen. You can also follow the announcements on Twitter.

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Financing a Great Idea in Today’s Economy…

11 03 2009

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In honor of the Elevator Pitch competition last week, I have been digging to find some information on how to turn a great idea into a reality.

As we all know, the economy is not exactly ideal for beginning a new venture and finding a way to fund it, but there have to be other avenues of exploration. “Business Plans” coach at Entrepreneur.com, Tim Berry, had much to say about the topic on his blog “Be Realistic About Startup Financing.”

One great lesson to learn prior to seeking funding is that there is no such thing as free money. For an idea to flourish it must be able to withstand the test of monetary implementation, and that comes at the price of finding it.

Government loans are hard to come by, especially for the average Joe with an idea that may not have a high degree of social development. So, where do the average Joe’s go?

Tim Berry lays it on the line with several steps for those of us without the cash:

1. What can you afford?

–> Think lemonade stand if the money is tight!

2. Who can help?

–>Your best buddy could become your partner or co-founder!

3. Why not find investors?

–>They want to help; you just have to prove why your idea really is great!

Understanding your financial capabilities is the first step to fostering a great idea. Timing is key, especially when finances are concerned, so if it isn’t the right time for you to start a business or create a product, WAIT! A great idea poorly executed can become a bad idea very quickly.





Can your ideas survive 30 seconds?

5 03 2009

Members of Allen Hall Advertising take a moment to pose in front of the "elevator."

Members of Allen Hall Advertising take a moment to pose in front of the "elevator."

The second annual Elevator Pitch Competition is underway today at the Lillis Business Complex and will continue through March 4th at 4 pm. Allen Hall Advertising, the planners of the event, hope to spark student creativity in a rapid-fire 30 second pitch, while promoting awareness for the NVC on the University of Oregon campus and the similar pitch contestants experience during the competition.

My visit to the elevator pitch launch site was met with much enthusiasm and I could automatically tell I would be persuaded into the booth for an idea pitch. While ideas flooded my brain, I watched as students lined up for a chance to voice some of their craziest and innovative thoughts. Some bounced off the ideas of current products, like Jeremy Liebman’s pitch to re-vamp the “snuggie” into and electric blanket version called the “huggie.”

AHA Account Planner Kim Karalekas said the event placed an emphasis on the ability to sell your idea within the 30 second time constraint, a much shorter time frame than the high pressure one minute elevator pitch NVC contestants participate in.

The best and worst ideas will be awarded $100 gift certificates to the UO Bookkstore and a raffle of all participants will determine the winner of the green iPod Nano.

If you want to learn more, stop by the Lillis Business Complex atrium from 10 am to 4 pm today through March 4th, check out last year’s video, or check out the Facebook event.

Bring your best, your worst and your most outrageous ideas!

UO Student Jeremy Liebaman pitches his idea.

UO Student Jeremy Liebaman pitches his idea.

The set-up.

The set-up.