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The Elevator Competition: Wake Forest MBA business plan competition, March 31

  • 1.  The Elevator Competition: Wake Forest MBA business plan competition, March 31

    Posted 01-26-2007 16:19
    • Registration for The Elevator Competition 2007 is here. 
    • Kindly let your best entrepreneurial MBAs know and encourage them to participate. 
    • We offer $1000 each to the 20 finalists who are selected to attend with the winner getting $45,000 in prizes and entry into Moot Corp. 
    • This competition is not to be missed...in its 8th year.

     

    Best regards and see you here...Stan

    Stan Mandel, Ph.D., CPA, PE
    Director:  Angell Center for Entrepreneurship
    Babcock Graduate School of Management
    Wake Forest University
    336-758-3689
    stan.mandel@mba.wfu.edu

     

     

    January 26, 2007

    Want to pitch your idea to real investors?

    Got the next million-dollar idea? Whether you're a seasoned entrepreneur or you just had a great thought in the shower, the 2007 Wake Forest MBA Elevator Competition (March 30 and 31) could be the vehicle that launches your company to success.

     

    Can you pitch it in two minutes or less? Step into an elevator, and meet the venture capitalist who could help you realize your dreams. The competition is built on the concept of the classic elevator pitch. You have a two-minute elevator ride to pitch your idea (seriously, you really do ride in an elevator). To advance, the pitch has to be convincing enough to earn a 20-minute meeting with venture capitalists, who control more than $500 million and will choose the winner.

     

    Want some money to start your business? The Grand Prize winner receives $45,000 in cash and in-kind professional services, a meeting with an appropriate venture capitalist, and an automatic entry into the Moot Corp Competition. In addition, 20 semifinalists receive $1,000 each. Over the past four years, more than 10 companies have received funding as a result of this competition.

     

    Previous competitions have included MBA teams from Chicago, Columbia, Duke, Harvard, Hong Kong University, Illinois-Chicago, Michigan, MIT, Northwestern, Penn (Wharton), Utah, Wisconsin, and Yale.

     

    The 2007 Wake Forest MBA Elevator Competition is March 31. Apply to pitch your business idea to the venture capitalist of your dreams. To be considered, submit a four-page business plan by Feb. 14.

     

    Learn more at www.mba.wfu.edu/elevator.

    Matt Hedges, Vino Del Sol

    Vino del Sol won Best Company honors at the 2004 Elevator Competition with a business plan for importing wines from Argentina for sale in the United States. After winning the competition, the company's founders raised nearly $1 million from 40 private investors. Today, the company distributes portions of its 25-wine portfolio throughout the U.S.

     

    "Wake Forest and its Elevator Competition enabled us to be where we are today for two reasons: one, after winning the competition, the business plan was validated in the eyes of investors and we were able to receive financial backing; and two, the judges pointed out substantial problems in the original plan that we had not seen, which we then corrected with the solutions suggested by the judges."

     

    Matt Hedges, President
    Vino Del Sol
    Corinth, Miss.

     

     


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