About

About

The Network for Teaching Entrepreneurship provides a highly experiential and academic program that inspires young people from low-income communities to plan for successful futures by pursuing educational opportunities and starting their own businesses.

Now we’re giving our most biz-savvy students from around the country their first big break: 60 seconds to sell their idea to the world, in an online “elevator pitch.” Vote for your favorite idea, and that student could win the cash they need to get their idea off the ground or advance their education.

The nominee who earns the most online votes from the general public will receive an award of $2,500 toward advancing their education or getting their business off the ground. The winner will be announced at the National Youth Entrepreneurship Challenge, presented by MasterCard Worldwide in association with Kathryn W. Davis on October 11th, 2012 in New York City and posted online on October 12, 2012.

Additionally, there will be two runner-up cash prizes of $500 and other special prizes will be given out during the period of active voting for those businesses which receive the most votes in a given day, and in a given week. Weekly prizes will be 2 Southwest Airline tickets valued at $400 each and daily prizes will be gift cards provided by MasterCard Worldwide.

Each of the businesses is the brainchild of a high school or middle school student from a low-income community who learned about starting his or her own business from the Network for Teaching Entrepreneurship’s unique, experiential curriculum. Each nominee is either the owner or co-owner of his or her business. Local and regional panels selected the youth-led businesses to participate in the national competition.

Challenge Details

Who can enter the challenge?

Only the high school and middle school students who represent the 34 businesses taking part in the October 11, 2012 NFTE National Youth Entrepreneurship Challenge, presented by MasterCard Worldwide in association with Kathryn W. Davis can participate in the 2012 Elevator Pitch Challenge.

Who runs the challenge?

The challenge was initiated by Network for Teaching Entrepreneurship and is being supported by E*TRADE.

Who are the participants?

Each of the businesses is the brainchild of a high school or middle school student from a low-income community who learned about starting his or her own business from the Network for Teaching Entrepreneurship’s unique, experiential curriculum. Local and regional panels selected the youth-led businesses to participate in the national challenge.

Who owns the participants’ businesses?

Each nominee is either the owner or co-owner of his or her business. Neither E*TRADE, Network for Teaching Entrepreneurship, nor any of its partners, have any financial stake in any of the businesses represented in the challenge, or the students’ ideas. Each nominee maintains all intellectual property rights to his or her business, before and after the challenge.

Who can vote online?

Anyone can vote, so long as they provide their email address and zip code. Voting is limited to once every 24-hours per individual.

What makes a good elevator pitch?

Ultimately it comes down to how persuasive the idea is, but each nominee should speak confidently, behave professionally, and answer the following questions:

• What is the product or service?

• Who is going to buy this product or service?

• What does the product/service cost?

• Who are the people running the company?

• What makes this product/service different from its competitors

What’s an example of an elevator pitch?

Guy at Elevator: "I'm really looking forward to Disney but I'm a little worried about keeping track of the kids. Hey, I'm just getting in the elevator — let me call you back in a few, ok?"

Steven: Pardon me, but have you heard of TattooID? I'm Steven and I founded TattooID for concerned parents. Your concern for your kids is legitimate. Over 2,000 kids go missing each day, nationwide. TattooID offers temporary safety tattoos that are non-toxic, awesome, and totally customizable with the child's initials and your phone number, so that the community can help protect your child. TattooID makes safety fun for kids."

Guy: "I'm interested. How can I learn more?"

Steven (handing him a business card): "You can visit us online at TheTattooID.com. Secure your child, reassure your mind."

What can nominees win?

The nominee who earns the most online votes from the general public will receive an award of $2,500 toward advancing their education or getting their business off the ground. The winner will be announced at the National Youth Entrepreneurship Challenge, presented by MasterCard Worldwide in association with Kathryn W. Davis on October 11th, 2012 in New York City and posted online on October 12, 2012.

Additionally, there will be two runner-up cash prizes of $500 and other special prizes will be given out during the period of active voting for those businesses which receive the most votes in a given day, and in a given week. Weekly prizes will be 2 Southwest Airline tickets valued at $400 each and daily prizes will be gift cards provided by MasterCard Worldwide. 

WATCH & VOTE

What is an elevator pitch?

An "elevator pitch" is a carefully crafted message designed to explain a business to a potential investor. The catch — it must be given in the time that it takes to ride up an elevator.

Elevator Pitch Challenge

The Network for Teaching Entrepreneurship gives high school and middle school students the opportunity to take a sixty second idea, and turn it into an actual business. Each nominee here is either the owner or co-owner of his or her business.