With graduation day approaching, Empowered Women International is proud to present the “Business Plan Pitch Contest.” The contest will be held on Saturday, June 15 at the Bethesda-Chevy Chase Regional Services Center from 11:30am-2pm in the presence of select judges in the banking, financial, and business industries. This is the occasion when the Spring ETS class will show their business ideas in three minutes.
There are five prizes, which are sponsored by EWI contributing companies or individuals who donated the cash prize for the business pitch contest:
- $1,000 1st Prize
- $500 2nd Prize
- $250 3rd Prize
- Two $125 Runner Up
The winners will receive their prizes during our Graduation Reception & Business Showcase on Sunday, June 23 in the Montgomery College Cultural Arts Center. All winners will also be provided access to EWI advisory services and KIVA ZIP micro-loan program to support entrepreneurs in their launch of the business idea. Past Biz Pitch contestants have received pro bono financial services, legal services, business advice from professionals and entrepreneurs.
As EWI students prepare to pitch the business plans they built for their start up following their three-month intensive ETS training, the contest will essentially be the report containing their finalized business plans. Some of the topics they have to address are:
- What is your product or service? Very simply describe what it is you sell. Be clear, but do not go into excruciating detail.
- What need does it address? What problem do you solve? What is the compelling need?
- Who is your customer and how big is the market? Briefly discuss who you are selling the product or service to. How will they buy it and how large of a market does it represent?
- Who is your competition? Don’t have any? Think again. Briefly discuss who they are and what they have accomplished. Successful competition can be proof that a market exists.
- What is your competitive advantage? Clearly communicate how your product/service is superior/different and why you have an advantage over the competition.
- What is your business model? How do you expect to generate revenue and make money? What is your profit margin?
- Who will run the company? Tell them a little about you and your team’s capabilities and why you can capture this opportunity.
Our Business Pitch judges are volunteer entrepreneurs – business experts or investors who will score the business plan pitch, provide feedback, advice, and mentorship to EWI student entrepreneurs. Based on the judges’ score and recommendations, EWI will select 5 winners to receive cash prizes.
This is a great opportunity for our ETS students and a good way of witnessing the full evolution of our women entrepreneurs who have transformed their ideas into viable businesses! We’re so excited for them and can’t wait for this incredibly powerful day.