Wednesday, September 4, 2013
The annual Perfect Pitch competition, designed to prepare entrepreneurs to showcase their ideas to potential investors and collaborators, is underway with applications currently accepted through Sept. 2. The competition is Charleston’s version of the popular TV show Shark Tank, where finalists pitch their business ventures to a panel of judges for a chance to win seed money and visibility. The Perfect Pitch final event will take place on Nov. 19.
Anyone with a business idea can enter in one of the following categories: Biomedical; Advanced Security/Information Technology; Aerospace; Wind Energy, International Trade, or “Other.” Submission ideas can be anywhere from the conceptual stage to an active business and must be original ideas. The top 10 ideas will be chosen and these finalists will work with mentoring teams that provide guidance on articulating their idea and proof-of-concept, differentiating their product from their competition, creating strategies for commercialization, explaining funding strategy and value proposition and sharpening general presentation skills.
Finalists will then go in front of a panel of judges and make their pitch on November 19th at the American Theater in downtown Charleston. Each finalist is given five minutes to present their idea. Judges will choose five finalists to advance into the final round of presentations, where they will face the judges in a grueling question-and-answer session. At the end of the day, the judges will choose the “Perfect Pitch” and two grand prize winners who will each be awarded $2,500 (one for concept winner; one for active business winner).
The Charleston Metro Chamber of Commerce event is designed to connect, engage, prepare and grow the innovators and entrepreneurs in the local region. Judging criteria is as follows:
• Viability: The entry makes a credible and believable case, is concise and easy to understand and demonstrates relevant industry knowledge (competition, market need, pricing etc.)
• Innovation/Vision: Entry demonstrates creative thought, revolutionary or new perspective on existing markets and businesses, provides an extraordinary vision for a business in South Carolina.
• Profit/Revenue Potential: It satisfies a need in a commercially significant market, demonstrates operational feasibility and/or expertise, and/or offers superior alternative to products or services currently available.
Title sponsor for this year’s Perfect Pitch is SCRA. For more information or to submit an application visit http://www.charlestonchamber.net/perfect-pitch.