Wednesday, January 20, 2016

On Tuesday, Nov. 17 and Wednesday, Nov. 18, the John Pappajohn Entrepreneurial Center (JPEC) gave out $20,000 in cash prizes to students with developing and established businesses during the Rose Francis Elevator Pitch Competition.

An elevator pitch is an overview of a business idea or commercial opportunity. The term “elevator pitch” comes from being able to convince an investor to consider investing in your business idea in the amount of time it would take to reach your floor while riding in an elevator.

Traditionally, the competition was held in one day, allowing both developing and established businesses to compete against each other. However, to give developing businesses a chance to win more prize money, the first day was dedicated to the businesses that are still developing. The second day of the competition was dedicated to businesses that have already had traction. Businesses that had won the first day also had a chance to compete again on the second day.

The winners of the first day were FlyBy ($1,500), Eater ($1,000), Mindset Movement ($1,000), SettIn ($500), Sugar Bottom Farms ($500), Listant ($500), Custom Cutting Metal Works ($500), and HaPill ($500). The winners of the second day were SwineTech ($5,000), Lohman Earth Works ($2,500), FlyBy ($2,500), ORGANizer ($2,000), and GentlemenCare ($2,000).