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$1,000 IS ON THE LINE FOR 18 STUDENTS.
THIS YEAR'S ELEVATOR-PITCH CONTEST IS AWARDING THE BIG CASH
PRIZE TO WHOEVER HAS THE BEST BUSINESS IDEA.
THIS ELEVATOR IS GOING UP
AND TAKING PURDUE'S ENTREPRENEURIAL STUDENTS
TO THE NEXT LEVEL.
THE COMPETITION THEME "STAND UP, STAND OUT, GO UP!"
GIVES STUDENTS THE OPPORTUNITY TO DESCRIBE
OR PITCH THEIR BUSINESS VENTURE TO JUDGES.
THE JUDGES WILL DECIDE WHO HAS THE MOST VIABLE PRODUCT
OR SERVICE AND AWARD THEM A CASH PRIZE OF $1,000 FOR FIRST PLACE,
$500 FOR SECOND, AND $250 FOR THIRD.
THE CONTEST IS ORGANIZED BY PURDUE CERTIFICATE
AND ENTREPRENEURSHIP AND INNOVATION PROGRAM.
WELL, THE PURPOSE IS REALLY FOR STUDENTS TO SHOWCASE SOME
OF THEIR BUSINESS IDEAS.
AND PART OF THE FUN IS JUST THINKING ABOUT OR JUST FINDING
OUT WHAT TYPES OF VENTURES STUDENTS ARE INVOLVED IN.
AND THE OTHER PART IS REALLY EMPHASIZING THE COMMUNICATION
SKILLS THAT THEY NEED TO HAVE TO BE ABLE
TO GET ENTREPRENEURIAL VENTURES OFF THE GROUND.
THE WAY THE EVENT WORKS IS,
WE HAVE APPROXIMATELY 17 UNDERGRADUATE EITHER TEAMS
OR INDIVIDUALS WHO WILL GET UP IN FRONT
OF A PANEL OF FIVE JUDGES.
AND THERE'LL BE A "INVESTOR" IN A FICTITIOUS ELEVATOR,
WHO WILL PRETEND TO JUST MEET THEM FOR THE FIRST TIME.
AND THAT STUDENT WILL PITCH THEIR BUSINESS IDEA TO THEM
AND TRY TO GET THEM TO BE INTERESTED
IN THAT VENTURE ENOUGH
TO PROBABLY GET ANOTHER MEETING, IF THEY CAN.
WE TRY TO MAKE IT AS FUN AS POSSIBLE.
IT'S NOT A HIGH-STAKES COMPETITION.
THEY ONLY REALLY SPEND TWO MINUTES UP THERE
AND A COUPLE MINUTES WITH FOUR QUESTIONS.
SOME PREPARE A LOT, SOME DON'T PREPARE TOO MUCH.
BUT THEY HAVE THE OPPORTUNITY TO WIN $1,000
IN TWO MINUTES IF THEY SUCCEED.
THE ELEVATOR-PITCH COMPETITION IS A GREAT OPPORTUNITY
FOR ALL STUDENTS TO HAVE, YOU KNOW, IDEAS OR AMBITIONS
TO REALLY TAKE FORWARD, YOU KNOW, TAKE A STEP FORWARD
AND DO IT BEFORE YOU GRADUATE 'CAUSE IT --
THERE'S NO BETTER OPPORTUNITY, I FEEL, THEN DURING COLLEGE
WHEN YOU HAVE ALL THESE OPPORTUNITIES AND, YOU KNOW,
FRIENDS AND CONNECTIONS THAT YOU CAN ACTUALLY USE AND NETWORK
WITH WHILE YOU'RE IN COLLEGE.
THIS COMPETITION IS GOOD BECAUSE I GOT TO GET, LIKE,
A DIFFERENT PERSPECTIVE INTO IT.
AND PURDUE HAS A GREAT OPPORTUNITY THAT IT OFFERS.
LIKE, PEOPLE -- LIKE, STUDENTS LIKE ME COME
UP WITH A GREAT IDEA
AND ACTUALLY WORK IT INTO A BUSINESS.
I THINK IT MAKES THE OPPORTUNITY EASIER,
ESPECIALLY BURTON MORGAN CENTER.
IT HAS, LIKE, REALLY GREAT THINGS FOR STUDENTS
WHO ARE NOT ENTREPRENEURSHIP MAJORS.
BUT ANYTHING IN THEIR MAJOR, THEY CAN FOCUS
ON THE BUSINESS ASPECT OF THINGS.
I THINK IT'S A GREAT OPPORTUNITY FOR THE STUDENTS
TO EXPRESS THEIR IDEAS.
IT GIVES THEM A CHANCE
TO PRACTICE A REAL-LIFE SITUATION HERE IN THE,
YOU KNOW, IN A SAFE SETTING.
AND IT ALLOWS THEM TO GET SOME GOOD FEEDBACK, TOO.
I GUESS IT'S HOW YOU MISSED IT OR WHERE YOU MISSED IT.
A LOT OF THESE FOLKS HAVE NEVER HAD ANY EXPERIENCE IN TALKING
TO BUSINESS PEOPLE BEFORE, INVESTORS, OR ENTREPRENEURS.
AND THEY HAVE A GREAT IDEA THAT, IN MANY CASES,
COMES OUT AS A BUSINESS PROPOSAL.
WE HAVE FOLKS THAT HAVE COME OUT OF THIS IN THE LAST THREE YEARS
THAT HAVE ACTUAL BUSINESSES NOW.
AND THEY'RE HAVING TO MAKE A PITCH.
THEY HAVEN'T HAD EXPERIENCE AT DOING THIS BEFORE.
EVERYBODY WHO'S AN UP-AND-COMING ENTREPRENEUR HAS
TO MAKE A PITCH SOMEWHERE, SOMETIME FIRST.
AND FOR A LOT OF THEM, THIS IS THE FIRST PLACE.
EVEN THOUGH THERE WILL ONLY BE A FEW WINNERS,
THIS CONTEST HAS GIVEN PURDUE STUDENTS A UNIQUE OPPORTUNITY
TO PRESENT AND DEVELOP INNOVATIVE IDEAS.
YOU NEVER KNOW WHERE THE NEXT BIG IDEA WILL COME FROM.
FOR "BOILER BYTES," I'M SARA WAGNER.
GOING UP?