The final step of the Fall Cohort will be “ Pitch Your Passion & Seal the Deal” Event on Tuesday, December 20th, 2022 at 11am EST Hybrid (via zoom and in person).
About the Contest
NYU SPS Tisch Center of Hospitality HI HUB Incubator Pitch Contest is based on the Elevator Pitch concept, popular in the venture capital community. It is an extremely concise presentation of an entrepreneur's idea, business model, marketing strategy, competitive analysis, and financial plan, which is delivered to potential investors. The premise is that it could be made in a few minutes, should the entrepreneur spot a potential investor on an elevator and have the opportunity to pitch their idea during the brief ride.
Each of the six finalists will have exactly 8 minutes to pitch their venture ideas in person or via zoom to a distinguished panel of judges in alphabetical order for companies’ names.
Agenda: Tuesday, December 20th, 2022 – via zoom or in person
- 11:00 - 11:15 Welcome
- 11:15 - 12:15 Finalists make their Pitch
- 12:15 - 12:30 Break (Judging Panel selects the winning pitches in private)
- 12:30 - 1:00 Awards Ceremony
Entrepreneurs should try to answer following critical questions clearly during their pitch presentations;
- What's the PROBLEM?
- What's your SOLUTION?
- How large is the MARKET?
- Who is the COMPETITION?
- What makes you so SPECIAL?
- What's your ECONOMIC MODEL?
- How exactly will you achieve SALES?
- Have you assembled a qualified TEAM?
- How will you secure required RESOURCES?
- What are you proposing for an INVESTMENT?
Some of the judging criteria will be as follows for the panel of judges:
Business Model (25%)
Does the applicant’s response clearly describe (1) the company’s unique value proposition (the business concept), (2) how the firm uses its sustainable competitive advantage to perform better than its rivals over time (strategy), and (3) how can the firm make money now and in the future (revenue model)?
Product & Originality (25%)
Does the applicant’s response clearly describe what they are selling, or plan to sell, to customers?
How does the idea and execution compare to existing products/services in the marketplace when it comes to creativity, originality, and innovation?
Does the applicant’s response clearly describe who they are targeting and how big the market is?
Does the applicant’s response clearly outline and describe their key team members?
A $5,000 cash prize will be awarded to the winner.
A $2,500 cash prize will be awarded to the second place.
A $2,500 cash prize will be awarded to the third place.
Please note that NYU HI HUB Incubator reserves the right to disqualify, at its sole discretion, any individual or team from the competition at any time (before or after the Contest or the award of any prize) for any reason. Reasons for disqualification may include, but are not limited to, misrepresentations in the application process, plagiarism, infringement of the intellectual property of others, and any failure to comply with the rules of the competition. Disqualified individuals or teams shall forfeit any and all prizes awarded to them.