Students Pitch Business Ideas in an Elevator

A bright idea, two thousand dollars and an elevator. These are the integral parts that made up the fourth annual Pitch George Competition this Saturday. The competition was open to all graduate, undergraduate and even high school students.

The competitors started the primary portion of the competition by pitching their business idea to a room filled with judges and fellow competitors. They had to support their idea with market statistics and demonstrate a legitimate demand or use for their product or service. After they had finished, the competitors received some constructive criticism from the judges.

The event also served as a networking luncheon, giving competitors the chance to exchange business cards with the judges and fellow contestants.

The final round featured five contestants pitching their plans in an elevator which included a three-minute pitch in an elevator.

Prizes for the top three places were awarded in each age division. College students received $2,000 for first place, $1,500 for second and $1,000 for third. High school winners received $750, $500 and $250 respectively.

In addition, all of the finalists received prizes such as legal assistance setting up their businesses.

Pitch George is just the first major competition of the year. In January GW will hold their Business Plan competition with more than $50,000 in prizes up for grabs. For more information on the competition or if you're interested in entrepreneurship visit GW's Office of Entrepreneurship.