This initiative is born out of the desire to bring students from PNWER universities and colleges together in an exciting competition focused on business innovation that holds promise for the region that we collectively call home (Oregon, Washington, Idaho, Montana, Alaska, Alberta, British Columbia, Saskatchewan and the Yukon).
Traditionally, business ideas are described in one of two ways. Either they are written down as an Executive Summary or they are verbally delivered in what is known anecdotally as an Elevator Pitch. Put simply, the metaphor imagines a start-up proprietor fortuitously entering an elevator and recognizing a famous potential investor. Under tight time constraints the would-be entrepreneur must explain their vision in a way that is compelling and worthy of a second meeting.
Participation in this competition requires students to submit a Video Elevator Pitch. Given a few minutes as opposed to a few seconds, a well-prepared entrepreneur can convey a great deal of interesting information in a logical format that enables thorough analysis by a potential investor. For these reasons, the Annual PNWER Business Ideas Competition is built around the earliest stage of the business planning continuum; the idea.