The pressure will be mounting today for 13 student entrepreneurs at the University of Manitoba.
The students are participating in an elevator pitch competition hosted by the Collegiate Entrepreneurs’ Organization of Manitoba, an entrepreneurial student group at the U of M’s Asper School of Business
Each competitor will have just under 60 seconds to convince two judges to invest in an original business idea as they ride an actual elevator in the Richardson Centre downtown.
“Usually the term ‘elevator pitch’ is a metaphor for a quick opportunity to get someone interested in an idea,” said CEO Manitoba president Liam MacCormack.
“We thought we’d take the concept literally and create a more exciting challenge for participants. One minute is not a lot of time, but it’s often all you have when you’re talking to potential customers or investors.”
Judges will be local business columnist Martin Cash and an executive from Richardson International.
Students will ride the elevator from the 27th floor to the lobby and back between 8:30 a.m. and 10:30 a.m. Hopefully nobody pushes the emergency stop button out of desperation.
Those who are successful will receive an all-expenses paid trip to the CEO National Conference in Kansas City in November.