Elevator Pitch Contest Set for Dec. 7

Participants Will Get a Chance to Win $1,000 in Prizes

PROVIDENCE - (Nov. 15, 2011) - The Rhode Island Business Plan Competition today announced that, for the sixth consecutive year, it will host the Rhode Island Elevator Pitch Contest on Dec. 7, in which participants will get a chance to win $1,000 in cash prizes.

Aspiring and established entrepreneurs will present their business ideas in 90 seconds to a panel of judges and receive immediate feedback. The free event, open to the public, will be held 5 – 7 pm at the Rhode Island Center for Innovation & Entrepreneurship in Providence.

“Knowing how to make your case to investors is a critical skill for successful entrepreneurs,” said Competition Co-chair Larry Davidson, principal with the Providence-based accounting firm of Kahn, Litwin, Renza & Co., Ltd. “The Elevator Pitch Contest provides a great opportunity to practice a pitch and get immediate feedback from people who know what it takes to build a business.”

$1,000 in Cash Prizes

Presenters will each make a 90-second presentation to a panel of judges. Following each presentation, the judges will give feedback about the clarity and persuasiveness of the presentation. At the end of the event, cash prizes totaling $1,000 will be awarded to the best presenters.

Serving as judges will be: Jim Grace, president of InsureMyTrip.com; Charlie Kroll, president & CEO of Andera; Kelly Ramirez, executive director of Social Venture Partners Rhode Island; Barbara Schoenfeld, director of Brooks Houghton & Company, Inc.; and Jack Templin, co-founder and CEO of Lockify and partner at Betaspring.

Registrations to make a pitch are being accepted online by clicking here. People who want to watch, but not present, are invited and may pre-register at the same website.

Sponsors of the 2012 Competition

Lead sponsors of the 2012 competition are the Greater Providence Chamber of Commerce, Johnson & Wales University, the Providence Journal Charitable Foundation, the Rhode Island Economic Development Corporation, University of Rhode Island, along with Edwards Wildman Palmer LLP, Embolden, Hinckley, Allen & Snyder LLP, and Kahn, Litwin, Renza & Co., Ltd.

Also supporting the competition are: AM 790, Bryant University, Braemar Energy Ventures, Business Development Company, Cherrystone Angel Group, Citizens Bank of Rhode Island, Collette Vacations, CVS/Caremark, Fidelity Investments, Freedom National Bank, GTECH Corporation, InsureMyTrip.com, Morgan Stanley Smith Barney, Nortek Inc., NuLabel Technologies, RI Center for Innovation & Entrepreneurship, ShapeUp, Slater Technology Fund, Verizon New England, and Ximedica.

About the Competition

Established in 2000, the Rhode Island Business Plan Competition has become an important element of the Rhode Island entrepreneurial landscape. To date, it has awarded more than $1 million in prizes to competitors developing companies across many industries.

In addition to awarding prizes, the competition hosts educational events in the months leading up to the application deadline in early April. They include writing, financial planning, and presentation skills workshops. In addition, the competition hosts the annual Rhode Island Elevator Pitch Contest in early December, in which participants have 90 seconds to make a presentation to a panel of judges, who then provide constructive feedback and award cash prizes.

Complete competition information, including rules, application procedures, guidelines, and business plan resources, is available at www.ri-bizplan.com.