In recent years, elevator pitch competitions have become another popular way for entrepreneurs to raise capital. Several contests are held annually across the country. Even ABCâ€™s competition Reality TV show, “Shark Tank,” has proven to be fertile ground for entrepreneurs seeking investment capital.
In addition to the chance to win money, the benefit is that there are also endless networking opportunities at pitch competitions, as there are an abundance of entrepreneurs, angel investors, venture capitalists, and potential co-founders who attend these events.
Precious L. Williams walked away with $10,000 as the 1st place winner of the 2013 Black Enterprise Elevator Pitch, sponsored by PepsiCo and hosted by filmmaker and comedian Robert Townsend. Every year at its Entrepreneurs Conference + Expo, Black Enterprise rewards the entrepreneur with the best business pitch. Candidates submit their best video pitch, and from there the top ten are selected to present in front of judges and a live audience.