Developing an "elevator pitch," or a 30-second-long promotional speech, is essential for young entrepreneurs – and now, those participating in the Network for Teaching Entrepreneurship's 2010 National Youth Entrepreneurship Challenge are competing to see who can deliver the goods.
The NFTE is kicking its challenge off with an elevator pitch competition, which began this week and runs until October 3. The public can view and vote on the entrepreneurs' pitches at www.elevatorpitch2010.com.
The winner of the elevator pitch competition will receive $2,500 and two round-trip tickets on Southwest Airlines; the tickets can be used for educational or entrepreneurial purposes.
Twenty-two businesses will be represented in the pitch contest. The companies include Mama Nia's Vegan Bakery – founded by Long Island teen Nia Froome – and TattooID, which makes temporary tattoos that parents can apply to their children so they don't get lost. TattooID was established by Brooklynite Steven Gordon.
"Not only does the elevator pitch competition offer these talented teens a financial incentive, it's a fun and creative way for them to gain very valuable business skills," NFTE CEO Amy Rosen said.