WEST LAFAYETTE, Ind. (WLFI) – A competition at Purdue puts entrepreneurship students on the spot selling their business in less time than it takes to ride an elevator.
The eighth annual Elevator Pitch contest was held at the Burton D. Morgan Center for Entrepreneurship Friday. Contestants were told to pitch their business idea in two minutes or less — the length of an average elevator ride. Judges then scored contestants on the effectiveness of that pitch.
Everything from hydroponic gardening to dog slippers were presented to a mock investor. Program manager Jeanette Greener said the contest teaches students how to think on their feet.
“This is a great way to kind of truncate a business model and plan. If you are riding in an elevator, you don’t have much time at all. It’s what you can do in a short amount of time and really concentrate it,” Greener said.
The contest was split into two divisions — one for undergraduate students and one for faculty and staff. Winners of each division received a $1,000 for first place. There was also a $500 prize for Most Entertaining Pitch.