Young Entrepreneur Elevator-Pitch
Home of the $1,000.00 Pitch
YEEP! According to Wiktionary, “yeep” is a quiet yelp or scream; or an expression of surprise or dismay. However, for us, YEEPTM stands for Young Entrepreneur Elevator Pitch, which are business competitions sponsored by local business owners in an effort to support and encourage the individuality, dignity, and creativity of aspiring young business owners and future community leaders. Simply put, we are investing in our community’s youth.
Business owners and other community stakeholders should do everything possible to nurture, help develop, and refine the skills of our nation’s youth. There are as many ways to support our youth as there are actual businesses, government agencies, not to mention the countless numbers of civic, social, and religious organizations. All organizations and citizens have a vested interest in ensuring the success of all of our youth. Everyone has a role to play. Ours is to provide this unique opportunity that allows young people not only to be creative but to use and develop skills that will serve them well into their futures.
An entrepreneur typically can identify a need and then attempt to develop or create a good or service, out of nothing or very little, that solves or addresses that need. The ability to effectively “pitch” that idea is important. Common characteristics of an entrepreneur include, but certainly not limited to, self-motivated, hardworking, creative, forward-thinking, trend observer, well organized, tenacious, efficient, etc.
An “elevator pitch” is generally a very short speech, statement, or presentation that allows for the quick description or explanation of an idea, product, service, or even personal introduction. The idea is to explain or present a concept in ways that allow listeners to fully grasp and comprehend the idea in a very short amount of time – the length of a short elevator ride, hence the name.
YEEPTM competitions will allow participants to work on, then ultimately showcase, their ideas, knowledge, skills, and abilities towards possibly becoming self- sufficient and capable young business owners and community leaders.
Here’s How YEEPTM Competitions Work
YEEPTM Competitions gather the participation of young people under the ages of 20 who will compete for a 1st, 2nd, and 3rd prize awards. A modified version of the YEEPTM competition will be conducted, from time to time, within public schools, low-income communities, internally within businesses, library systems, etc., at no cost to the participants. These events will be conducted and coordinated in accordance with respective partnership agreements.
Smaller competitions are typically conducted throughout the year, as we build towards our $1,000 Pitch competition.
The full YEEPTM competition will typically have three phases of participations.
Phase-One or Registration Phase: During this phase participants will demonstrate their interest by researching, developing and presenting their own “Elevator Pitch” that articulates a hypothetical “product” or “service” that would benefit their community (market share area). They must present their hypothetical good or service “Elevator Pitch” to an adult sponsor (e.g. relative, teacher, supervisor, mentor, etc.) and convince the adult sponsor to submit their YEEPTM competition registration. This is the participant’s first business hurdle (creating an idea worthy of investor support) because their “Elevator Pitch” must be convincing enough and demonstrate their commitment to compete to the extent that the adult sponsor (submitting the registration), gladly agrees to pay a $20.00 registration fee (if required). This fee is non-refundable and represents a sort of “investment risk” on the part of the adult sponsor. The fee also qualifies the sponsor and participant to attend the final competition event. Once the completed registration message is received and reviewed by actual local business owners, the participant will be assigned a participant competition number (PCN);
Phase-Two or Pitching Phase: During this phase participants will further demonstrate their commitment to competing by continuing to research, develop, refine, and most importantly practice their “Elevator Pitch” on as many people as possible. Every effort should be made to follow all CDC safety guidelines with reference to personal protection, social distancing, etc. This is the participant’s second business hurdle (evaluating markets, industry trends, gaging customer demand, identifying competitors, etc.) because their “Elevator Pitch” must be convincing enough that listeners (hypothetical customers) agree to take action by submitting their votes (via e-mail), using the participant’s name and assigned PCN, in support of the participant’s hypothetical product or community service project. Practicing the “Elevator Pitch” is critically important in an effort to refine the participant’s business message, as well as ensure only relevant information remains. This phase of the competition starts for a participant once the PCN has been issued and ends approximately two weeks prior (the last day to accumulate votes) to the final competition;
Phase-Three or Final Competition Phase: During this phase the competitors will be notified whether or not they have accumulated enough votes to advance to the YEEPTM finals. Only 20 finalists will advance and present their “Elevator Pitch” before a panel of business professionals. Typically, the 1st Place finalist will be awarded $1,000.00, the 2nd Place finalist will be awarded $500.00, and the 3rd Place finalist will be awarded $250.00. YEEP! The award amounts vary from time to time, based on business support and program funding. Specific award amounts are posted with each competition. When competitions are being conducted, registration and receiving a YEEPTM PCN can be started by clicking on the “Connect Now,” or “Services,” then “YEEP Competition Registration,” located at www.AtheldaScotia.com.
YEEPTM Competition Guidelines
Modified YEEPTM Competitions:
These general guidelines will be outlined within the respective partnership agreements.
Full YEEPTM Competitions:
YEEPTM Competitors should seek an adult sponsor, as soon as possible, and begin researching, developing, and practicing their “Elevator Pitch.” The adult sponsor must be at least 18 years of age. Participants may not self-sponsor.
Competitors must be a resident of the designated County/City and 20 years of age or under.
Competitors should be creative and innovative in promoting their hypothetical products and services in an effort to gain support within their communities (markets) and solicit votes.
Competitors or sponsors should consider coordinating and organizing “Elevator-Pitch” practices throughout their communities.
The participant’s supporters must submit their votes via e-mail (YEEP.Competition@gmail.com), by simply putting the participant’s name and competition number (PCN) in the e-mail subject line. No additional information is necessary.
Multiple votes will not be counted for the same participant from the same e-mail address. 1 vote, per e-mail address.
Competitor’s hypotheticals must be original or be a significant improvement or change in something that already exists. Care should be taken as not to violate copyright or trademark assignments.
The “Elevator Pitch” presented during the YEEPTM finals is typically limited to 1 minute, 30 seconds.
Here’s How Community Stakeholders Can Support YEEPTM Competitions
Local businesses and organizations can support YEEPTM competitions by contributing toward the cash awards, donating goods and services to be distributed to finalists, providing business guidance by participating in “Elevator-Pitch” practices, organizing group sponsorships by supporting and encouraging employee or member participation, serving as judges or even providing “elevator-pitch” practice spaces. Most importantly, support can be demonstrated by simply encouraging all of our young and aspiring entrepreneurs.
In addition, businesses and organizations may also support a competition session by simply donating via and/or joining the YEEPTM network at the following support levels:
A small administrative fee applies when contributing via this website. Any amount can be contributed by making a check payable to Athelda Scotia or YEEP (to Post Office Box 7, Brunswick, Maryland 21716).
YEEPTM Business Sponsors will be acknowledged and identified during YEEPTM marketing and campaign promotions.
What YEEPTM Competitors Should Expect to Gain from Participation
YEEPTM Competitors will have to practice and conduct research and basic business analysis;
YEEPTM Competitors may have to articulate their vision through a short, written, description of their idea and how it is expected to benefit their community;
YEEPTM Competitors will demonstrate initiative, leadership, and employment skills;
YEEPTM Competitors will have to practice, face-to-face (within the same household)/virtual, negotiation and persuasion in an effort to garner support, as well as, potentially participate in the final, “Elevator-Pitch.”
YEEPTM Competition (Full) Step-by-Step:
Step 1: Come up with a hypothetical product or service that benefits your community;
Step 2: Obtain a Participant Competition Number (PCN) by convincing an adult sponsor to complete the registration process by going to www.AtheldaScotia.com, clicking onto “Connect Now,” or “Services,” then “YEEP Competition Registration.” Add the participants name and hypothetical idea in the “Message” section. A $20.00 registration fee (when required) may also be made via check, payable to YEEP, and mailed to Post Office Box 7, Brunswick, Maryland 21716.
Step 3: Practice your “Elevator Pitch,” and convince as many people as possible to e-mail a vote, using your name and PCN, to YEEP.Competition@gmail.com;
Step 4: Share your progress and “Elevator Pitch” practice events on social media. Don’t forget to hashtag (#) or tag YEEP and AtheldaScotia;
Step 5: Prepare to present your outstanding “Elevator Pitch” to a panel of business professionals, at the YEEPTM Finals, for the grand prize.
FOR MORE DETAILS: Click the “YEEP” tab at the top of www.AtheldaScotia.com;
Disclaimer: Neither Athelda Scotia Investments, LLC, nor any supporter/sponsor of these competitions guarantees a specific outcome or encourages the support of any hypothetical products or services. The competition will encourage diversity and all participants will be evaluated equally and without reference to race, religion, color, sex, sexual orientation, national origin, or disability. At no time should participants engage in any unlawful activities or behavior that is offensive or unsafe to themselves or others. Athelda Scotia Investments, LLC, reserves the right to change, adjust, or eliminate the cash prizes as it deems necessary or appropriate.