The Idaho Pitch Competition gives students from across the university the opportunity to practice their presentation skills, build confidence, and learn how to work a reception - while presenting their ideas to business professionals and potential investors. Participants attend a reception and engage in brief conversations with judges, pitching their ideas in a social setting.
Do you know what you would say if you were lucky enough to step into an elevator with the CEO of a major Fortune 500 company?
A pitch is a brief overview of an idea that can be delivered in the time it takes to ride an elevator. It could be for a product, a service, or even a social enterprise or project. Pitching is a skill you will use your whole life, no matter where your first idea goes.
Executing a solid pitch requires you to know what you are selling and why it is important. The essentials of a good pitch include:
- A Pain Statement. What is the problem you are solving? Without a problem, there likely isn't a reason for your idea.
- Who has the Pain? Identify your target market, and how can you reach them. What is your business model you created to reach your target?
- What is your Solution? What is the value in the project you are offering them? Explain how your idea solves their problems.
- Who is your Competition? What are your competitive advantages over them?
- What is your call to action? What is it that you want from your target? A follow up discussion for specifics, an investment pitch or a referral to someone that will make your idea a reality.
The objective of the pitch is to get judges to support you by giving you business cards. A good idea with a good pitch will win you a business card. A great pitch will get you a business card and signature, which means the judge has real interest and counts for more towards toward the prize money.
Students can also present their ideas in a more formal setting in the Business Plan Competition.