This ‘Entrepreneur Elevator Pitch’ episode features engaged co-founders, cannabis products and a $ 1 million ask.
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Entrepreneur Elevator Pitch invites ambitious entrepreneurs to step into the Entrepreneur Elevator, and then gives them just 60 seconds to pique the interest of a group of judges. It’s a high-pressure, fast-paced environment in which startup founders need to race against the clock while maintaining their composure to make a clear, deliberate pitch that covers at least three essential components:
- Defining the company
- Making the request
- Specifying what the investment money will be used for
The investors watch the pitch via a video live stream while the elevator ascends to the boardroom floor. Once the 60 seconds are up, the judges vote on whether to open the doors or send the founder back down and pass on investing.
Peter Goldberg, founder of PLG Ventures, opens the sixth season of Elevator Pitch by introducing our four investors: Alison Wyatt, CEO and founder of Female Founder Collective; Abyah Wynn, managing partner of Twenty65 Fund; Amanda Groves, partner at Plus Capital; and Ross O’Brien, managing partner of Entrepreneur Select. This season, each of the four judges is working from their home or office rather than working in the same boardroom, and they’re watching the pitches over live stream.
The episode starts with a pair of engaged co-founders, one a wedding planner, the other a dentist, who pitch Bride Brite, a 10-day teeth-whitening kit for brides to use leading up to their weddings. Although the Bride Brite co-founders have a strong pitch, their $ 50,000 ask raises some eyebrows, as does the nature of their relationship. “I’m actually a little concerned about having a fiance duo as co-founders,” Wyatt says. “There’s been data that suggests that marriage combos are tough for co-founder relationships.”
“I may have to wait to walk down the aisle, but please don’t make me wait to walk into the boardroom,” co-founder Erica Halpern finishes her pitch. But will any of the four judges be intrigued enough to hear more?
Next comes Liz Kost, the CEO of Fog & Tree, a cannabis-focused wellness company that makes products that aren’t meant to be smoked or ingested, which means its offerings are legal in all 50 states. But does Fog & Tree differentiate itself enough from its competitors in a saturated market?
Watch the full video to find out and see more pitches.