WORCESTER, MA--(Marketwire - March 31, 2011) - Entrepreneurs contemplating, starting, or operating early-stage technology ventures can now apply for the 2011 Five-Minute Pitch Contest held by the Worcester Polytechnic Institute Venture Forum.
"The Pitch Contest is a great opportunity for entrepreneurs to get focused exposure for their business," says Daniel Young, PhD, a technology specialist with Wolf Greenfield. "We are excited about introducing a mentorship program this year to assist entrepreneurs with refining their pitch," adds Young, who's co-organizing and moderating the contest.
Applications will be evaluated anonymously by a group of area business leaders. Ten finalists will be invited to compete at the Venture Forum's final meeting of the season on June 14. They'll receive mentoring from experts and will compete for a monetary prize.
In the final round, each company will have five minutes to pitch its business to a panel of expert judges and a large WPI VF audience. In both rounds, companies will be evaluated based on:
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Business model: How the business generates revenue and profit.
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Innovation: How innovation is applied in the business -- the technology associated with the product/service, how a product or service is marketed.
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Market opportunity: The size of the market, the ability of the company to capture market share and generate profit out of its market share.
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Competitive advantage: What allows the company to compete successfully in the marketplace, such as the value proposition and intellectual property strategy.
- Leadership team: The quality, breadth and experience of the team.
"Our fifth annual Pitch Contest is a key part of our commitment to fostering entrepreneurship and the growth of technology-based businesses," says Gina Betti, Administrative Director of the WPI Venture Forum. "And it helps attract participating entrepreneurs potential investors."
"Having a powerful, targeted message that is appealing to prospective investors and customers is essential to the success of any business. This Pitch Contest offers a tremendous opportunity for entrepreneurs to develop their pitch and deliver it in front of a receptive audience," says Justin Nesbit, an attorney with Gesmer Updegrove and co-organizer and moderator of the contest.
The contest is cosponsored by Gesmer Updegrove, LLP, (www.gesmer.com) a Boston law firm for technology companies and emerging businesses, and Wolf, Greenfield & Sacks, P.C., (www.wolfgreenfield.com) a Boston intellectual property law.
Past competition videos can be viewed at the Venture Forum web site.
For more information and an online application, see http://www.wpiventureforum.org/fiveminute.html.
Contact Information:
Media contact:
Henry Stimpson
Stimpson Communications
508-647-0705
Henry@StimpsonCommunications.com