By Nikki Cabus
Read Time 5 MinutesThe first 60 seconds of a business pitch might matter more than anything else when trying to grab the attention of an investor. On a streaming pitch show brought to you by Entrepreneur Media, entrepreneurs are put to the ultimate pitch test on “Elevator Pitch.”
In each episode of the show, entrepreneurs are challenged to pitch their business, product and/or idea . . . on camera . . . in an elevator . . . to a board of prestigious investors such as former CEO of Netflix, Marc Randolph. If the team of investors like what they hear, the business owner is invited into the board room to see if they can strike a deal.
Speaking in front of investors of this caliber is already nerve wracking in itself, but the pitches are on a timer and must also be one minute or less. The entrepreneurs can’t see the investors or their reactions as they pitch. The entrepreneurs have to get it right the first time or their opportunity is cut short.
After each pitch, the investors each vote whether they want to hear more from that entrepreneur or not. If the investors likes what they hear, the elevator doors open to reveal the boardroom, and the business owner/executive is invited into the board room to discuss further and negotiate. Contestants have the chance to walk away with life-changing funding, mentorship from the smartest minds in business and a personal and brand-defining moment.
Launched in 2017, the show has since accumulated 208 million views and counting across YouTube, Facebook, Instagram and, EntrepreneurTV. After 5 1/2 years, 350 entrepreneurs have been accepted onto the show and 15 contestants were based in Florida just last season.
Here are some of those Florida entrepreneurs:
- Rob Kornaherns, CEO of PowerPanel, an innovative solar power company (Ft. Lauderdale)
- Edward McGovern from CERA, a critical response app (Davie)
- Lisa and Mark Burginger from Quibits, an educational toy company that encourages creativity and building (Orlando)
- Issac Hicks from SlipBot Inc., SaaS for reinsurance slip-processing (Miami)
- Anthony Tranchida and Scott Mobley, Founders of Grill Rescue, a grill brush company (Ft. Lauderdale)
- Jared McCluskey and Alec Tremaine, The Mirror, open-source gaming creation and play platform (Miami)
- Ashland Stansbury, Because Intelligence, a no-code platform to optimize Shopify messaging and product updates (Tampa)
- Emily Alexandra Guglielmo, American Mermaid, planet- and ocean-friendly cosmetics (Orlando)
- Gina Scorza, Dope Minerals, a magnesium and CBD cream that helps with body pains, cramps and headaches (Sanford)
- Johnny Maghzal, Togal.AI, a construction estimation software platform that reduces tedious work from taking weeks to minutes (Miami)
- Brandon Feinstein of Fit Oven, healthy and hot vending machine meals (Delray Beach)
- Jarrod Stoldt of Skin the Tix, an innovative day spa (Melbourne)
More than $2 million were secured in deals on season 8 and some of those companies were from right here in South Florida. From Miami to Delray Beach, founders found themselves walking out with deals from investors who were ready to help fund and grow their companies.
In a money-flowing episode, Jared McCluskey and Alec Tremaine from The Mirror were able to convince our investors that the metaverse is where the money is and what the difference between a “want to have” and “need to have” is. They took home $150k on $37.5 M valuation and an opportunity to work with speaker, marketing maven and investor, Swan Sit.
Sometimes a pitch moves investors to tears, and sometimes it moves them to dance. Togal.AI, has an innovative product that has their sights set on disrupting the decades-old construction industry. The company landed a deal for $50k on $30 M cap with investor Swan Sit.
Impressively, with offers from all three investors, Brandon Feinstein from Fit Oven took home a deal worth $100k for 15% and a chance to work with investor Swan Sit. She is on fire!
The largest of the deals closed was for our South Florida entrepreneurs was Isaac Hicks from SlipBot Inc.
Teaching moments abounded in this episode. When one investor suddenly changed their offer mid-deal, see how the Isaac responded under pressure winning over investor Marc Randolph, Co-Founder & Former CEO of Netflix for a deal worth $200k for 5% of the company at a $4 M valuation.
In a recent Entrepreneur Media article, Isaac explained, “We are solving a very simple problem in heavily regulated industries: There is this enormous paperwork burden and very highly paid people are spending hours a day doing tedious data entry tasks. At Slipbot, we have developed an intuitive little AI tool that turns this huge burden into a simple drag-and-drop.”
When asked what he plans to the with the investment funds, Isaac responded, “going to build out our technical team a bit more and step on the gas as far as product maturity is concerned. We have a huge vision for where we can take this technology, and the investment is going to add more fuel to that fire.”
With 5 1/2 years and 84 episodes under their belt, Entrepreneur Media is now casting for season 9. They are in search of good companies with a great business, product and/or idea with entrepreneurs that are dynamic and have interesting stories. The company must be active and have a professional look. Entrepreneurs who have products or services that are ready for investment and who have a specific plan for how that investment can help them grow are invited to apply to pitch.
If you are you a serious and passionate entrepreneur with a business, product, or idea that’s ready for the ultimate pitch – in an elevator – you can apply today. Although not everyone is chosen, we have found that even if a company is not selected they still are given great exposure from being on television. Are you ready to blow open those elevator doors and change your life forever!!
Isaac’s advice to any entrepreneurs on the fence about applying to pitch, ‘Do it, 100%. The worst case is that you get some good feedback and learn from it. The best case is that you get the money, validation and clout associated with having a titan of industry sign off on what you are doing.”
He continued, “It’s one thing to say ‘Here is my business’, and quite another to say ‘here is my business, and here is someone with monumental success who believes in what I’m doing.’ The key to winning in this game is learning and growing as fast as possible. If the thought of going on a show like this scares you, and if you don’t feel ready, that means you should probably go ahead and do it.”
Applications are now open for Entrepreneur Media’s Elevator Pitch Season 9 – APPLY HERE!
