Institute for Leadership and Innovation

The Elevator Pitch originated during the dot com era, late 1990s. Hopeful entrepreneurs hoping to get venture capital funding would wait in the lobbies of office buildings where venture capitalist worked. When they would see a venture capitalist in their specialty area they would jump on the elevator with them and would pitch their business plan during the elevator ride hoping to get invited in to their office for a meeting. The competition is meant to duplicate this experience.

Every year, during National Entrepreneurship Week the Institute for Innovation and Leadership, the School of Business and Economics and the student-run Entrepreneurs Club sponsors the Elevator Pitch Competition. Normally this is the third week of November.

The Elevator Pitch Competition is open to all students of Michigan Technological University as well as Finlandia University students. Teams can consist of any number of students. Each Team is given three minutes to pitch their business idea to a team of judges. Teams are not allowed to use Power Point nor any prop that will not fit into an elevator.

Prizes for the Competition include 1^st, 2^nd, and 3^rd Place and an Audience Favorite award. The winning team is also invited to the National Elevator Pitch Competition held by the Collegiate Entrepreneurship Organization each October in Chicago.

2011 Business Plan Competition Information is Available Here!

In March of each year the Institute for Innovation and Leadership with the School of Business and Economics sponsors a Business Plan Competition. Like the Elevator Pitch Competition it is open to all Michigan Technological University and Finlandia University students.

In January each prospective team is asked to submit an executive summary of their business plan. The top ten teams will be announced the first week of Spring semester and they will go onto the finals in March. Training seminars will be held January and February to assist teams in completing their business plans. The business plans are due one week before the actual competition to allow the judges to review the business plans. The evening of the competition each team will be given ten minutes to present their plan and the judges will be given five minutes to question the teams.

Prizes will be awarded for 1^st, 2^nd, and 3^rd places as well as Audience Favorite. In addition to cash the 1^st place winner receives “in kind” services from local lawyers, CPAs and marketing professionals. The Entrepreneurs Club at Michigan Technological University assists with the running of the Business Plan Competition.

The Virtual Speaker Series is designed to inspire students and community members by hearing stories and learning the secrets behind the success of the world’s top entrepreneurs who are still in their 20’s. View the complete schedule for the Virtual Speaker Series. All of the entrepreneurs that are featured during this series are under 28 years old and have to have started and/or are currently running a business with a value in excess of $1 million dollars.

The Institute for Innovation and Leadership along with the School of Business and Economics sponsors the Virtual Speaker Series as part of the Extreme Entrepreneurship Tour. This speaker series runs for ten months, September through June and is hosted virtually on the Michigan Tech campus.