The annual Pace Pitch Contest teaches aspiring entrepreneurs to deliver a winning business pitch within minutes. “In today’s busy world, with 140-character Twitter [posts] and one-paragraph Zagat reviews, everything has to be shorter and persuasive,” says Bruce Bachenheimer, competition founder and director of entrepreneurship at Pace.
The critical requirement, sums up Bachenheimer, is “venture capitalists need to be convinced not only that it’s a good idea, but that you can make it happen. It’s always better to bet on the jockey rather than the horse.”
SEVENTH ANNUAL PACE PITCH CONTEST
Presented by Entrepreneurship@Lubin
in association with
The MIT Enterprise Forum of New York City
Welcome: Neil Braun, Dean of the Lubin School of Business at Pace University; Former NBC Television Network President and CEO of Viacom Entertainment
Keynote Speaker: Stanley S. Litow, President of the IBM Foundation
Special Guest: “Bill Gates’ favorite teacher” Sal Khan, Founder of the Khan Academy
Closing Remarks: Harold O. Levy: Managing Director of Palm Ventures; Former Chancellor of New York City Schools
||Monday, April 11th, 2011
||5:00pm – 8:00pm5:00 – 5:30 Registration and Reception
5:30 – 6:00 Introductions and Keynote Speaker
6:00 – 6:45 Finalists Make Their 3-Minute Pitch; Judges Question the Finalists
6:45 – 7:00 Audience Break; Judges Confer Privately
7:00– 7:30 Judging Panel Discussion/Critique
7:30 – 8:00 Awards Ceremony
||Pace University (east of City Hall) One Pace Plaza – Enter at 3 Spruce Street
Michael Schimmel Center for the Arts
New York, NY 10038
||Free to attend but must register at www.pace.edu/pitch
NEW YORK, NY – March 15, 2011 – Entrepreneurship@Lubin in association with the MIT Enterprise Forum of New York City, will host the Seventh Annual Pace Pitch Contest on April 11, 2011 at Pace University’s New York City Campus.
“High-energy collegiate events such as the Pace Pitch Contest are valuable elements of an entrepreneurship education, not only for those that participate, but for members of the audience who may be harboring start-up dreams of their own,” said Bruce Bachenheimer, Clinical Professor of Management, Director of Entrepreneurship, and the visionary/organizer behind the Pace Pitch Contest. “While contestants learn to deliver a very clear, concise and convincing oral presentation – under a considerable amount of pressure – attendees get to witness a series of “living case studies” on entrepreneurs and entrepreneurial concepts. Questions and feedback from the judges are valuable to all.”
According to Professor Bachenheimer, a total of 87 entries representing prospective startups in either the New Business Concept or Social Venture categories were received. After careful review by the Selection Committee, six promising new ventures (three New Business Concepts; three Social Ventures) were chosen to face off for cash prizes totaling $9,000.
The companies represented by the Top 6 Finalists who will deliver a live three-minute pitch to sell the judges and up to 700 audience members on the feasibility of their entrepreneurial idea, business model, marketing strategy, competitive analysis and financial plan on April 11, are:
NEW BUSINESS CONCEPTS
- Reslutions – Streamlines and improves front and back office processes of collegiate housing/residential departments.
- FitHopper – Offers members access to unlimited fitness service providers anywhere in the world, without contract obligations.
- The Lean Canteen – Mobile food cart that will serve an assortment of low calorie frozen entrées combined with a healthy side and bottled water to form a complete 500 calorie meal.
- Guiding Proud – One-on-one mentoring for LGBTQ youth, to foster self-esteem, self-confidence and a sense of worth.
- Little Big Loan – Connecting underprivileged youth that cannot attend college due to financial challenges with individual lenders (peer-to-peer lending).
- Malo Traders – Committed to combating extreme poverty and malnutrition by purchasing, storing, processing, and fortifying rice grown by small-scale farmers.
DISTINGUISHED JUDGING PANEL
- Kevin Bolen, Partner, Innosight
- Somak Chattopadhyay, Principal, GSA Venture Partners
- Jalak Jobanputra, Director of Investments, Omidyar Network
- Stanley S. Litow, President, IBM International Foundation
- David S. Rose, Chairman, New York Angels
- Lori Smith, Partner, Sedgwick, Detert, Moran & Arnold LLP
ABOUT THE KEYNOTE SPEAKER
Stanley S. Litow is IBM’s Vice President of Corporate Citizenship & Corporate Affairs and President of IBM’s Foundation. He heads global corporate citizenship and corporate social responsibility at IBM. Under his leadership, IBM has been widely regarded as a global leader in Corporate Social Responsibility and prized for its societal and environmental leadership, its labor practices and civic leadership. Under Stan, IBM has developed innovative voice recognition technology to help non-literate children and adults learn to read, automatic language translation and bilingual email, open source technology to help people with disabilities access the web, a humanitarian grid to power research on Cancer and AIDS and new digital imaging technology to improve water quality. He helped devise IBM’s Global Citizen’s Portfolio consisting of matching accounts for learning and The Corporate Service Corps a corporate version of the Peace Corps that trains thousands of IBM’s future leaders. IBM’s efforts in education have raised student achievement and won the company two Ron Brown Awards presented by the President.
Before joining IBM, he served as Deputy Chancellor of Schools for New York City, the nation’s largest school system, and prior to that he founded and ran Interface, the non- profit “think tank” and served as an aide to both the Mayor and Governor of New York.
His articles and essays have appeared in numerous books and publications including the Yale Law Review, Annual Survey of American Law, Brookings Papers, the American Academy of Sciences, the Journal for the Center for National Policy, Education Week, Harvard Business School’s Working Papers, New York Times and Newsday.
Stanley is a recipient of the Council on Foundation’s prestigious Scrivner Award for creative philanthropy and awards from the Anne Frank Center, Martin Luther King Commission, Manhattanville College, Federation of Protestant Welfare Agencies, Coro Foundation, Helen Keller Services to the Blind, and the Women’s City Club. He has taught at New School University, the City University of New York and Long Island University. Corporate Responsibility Officer Magazine voted him CEO of the Year for 2008 and 2009.
He served on the President’s Welfare to Work Commission, and now serves on the board of Harvard Business School’s Social Enterprise Initiative, Citizen’s Budget Commission, The After School Corporation and the Albert Shanker Institute.
ABOUT THE SPECIAL GUEST
Salman Khan (Sal) is the founder and faculty of the Khan Academy (www.khanacademy.org) – a free online education platform and non-for-profit organization with a mission to ‘accelerate learning for students of all ages.” He has produced over 2,100 popular videos elucidating a wide spectrum of concepts, mainly focusing on mathematics and the sciences, out of a converted walk-in closet in his Silicon Valley home. The Khan Academy has, as of February 2011, attracted more than 41 million views.
Sal is a former hedge fund analyst and techie. He holds three degrees from the Massachusetts Institute of Technology: a BS in mathematics, a BS in electrical engineering and computer science, and an MS in electrical engineering and computer science. He also has an MBA from Harvard Business School.
In March, Sal was invited to speak at TED2011 by Bill Gates who uses Khan Academy videos to teach his own children.
ABOUT THE PACE PITCH CONTEST
During the competition’s seven-year history, hundreds of aspiring entrepreneurs have registered to compete from schools around the country and abroad, for prizes totaling over $70,000. Some have gone on to turn their dreams into reality by raising additional seed money in the millions from early-stage venture capital funds, sell over 50,000 in product to stores such as Barnes & Noble and Bed, Bath & Beyond and partner with national organizations such as the National Institute of Health. The judging panel includes the “who’s who” of the venture capital, investment banking, legal, commercial real estate, philanthropic and media worlds. The Seventh Annual Pace Pitch Contest is presented by Entrepreneurship@Lubin, in association with MIT Enterprise Forum of New York City.
ABOUT ENTREPRENEURSHIP AT PACE
Pace’s entrepreneurial studies program, formally established in 1979, is one of the first of its kind and among the oldest in the world. Pace students have been selected for Business Week’s “25 Best Entrepreneurs Under 25” and finalists in Fortune Small Business 5th Annual Business Plan Competition. In his book Innovation and Entrepreneurship: Practice and Principles, Peter Drucker, considered the founder of modern management, singles out Pace as among the nation’s “entrepreneurial universities,” steeped in entrepreneurial tradition and focused on educational excellence that considers societal and market needs.”
ABOUT PACE UNIVERSITY
For 105 years Pace University has produced thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, College of Health Professions, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems. www.pace.edu
Pace Media Contact: Samuella Becker, firstname.lastname@example.org, 212-346-1637 or 917-734-5172