Purpose
To assess your ability to analyze the feasibility of your idea and to deliver an elevator pitch.
Overview
You have verified that there is a market for your idea, or you feel that you can create a successful market. And you have identified risks and ways to mitigate those risks. You must also verify whether you can actually make your idea a reality. Then, when you are confident that your idea is within reach with the right resources, you have to be able to express the idea succinctly – the elevator pitch.
Action Items
Analyze the key factors which will impact the potential success of your idea to do the following:
1. From the ranges below, identify the financial resources you will need to appropriately finance your idea. Explain how you will use these resources.
o $0-$5,000
o $5,000-$15,000
o $15,000-$30,000
o $30,000-$50,000
o $50,000-plus
2. Make a list of the non-financial resources you will need to be successful with your idea and whether you have them or not. Explain why you need each resource.
3. Analyze the list and explain if there are any “deal-breakers” – critical resources that you need but don’t have and cannot get access to.
4. If you find that there are critical resources that you cannot obtain, choose a different idea and explain your decision.
5. Use action items 1 – 4 as section headings in the document you submit.
6. Once you have verified that you have or are confident that you can secure all of the resources that you need for one of your ideas, prepare two elevator pitches – one to a venture capitalist and another to your in-laws (who have money to invest).
7. Read the grading criteria to know how your work will be evaluated.
Submission Instructions
By the due date indicated, upload your document using the Submit tool. Also by the due date indicated, record your elevator pitches using the audio recording feature below.
Grading Criteria
|
Points Earned |
Minimum Expected Points |
Maximum Points |
|
Content (~90%) |
||
|
Financial resources: the student made a list of the financial resources needed to be successful with his/her idea and indicated whether s/he has them or not. |
12 |
15 |
|
Non-financial resources: the student made a list of the non-financial resources needed to be successful with his/her idea and indicated whether s/he has them or not. |
12 |
15 |
|
Analysis: the student analyzed the list and explain if there are any “deal-breakers” – critical resources that are needed but don’t have and cannot get access to. |
12 |
15 |
|
Content Total |
36 |
45 |
|
Effectiveness (~10%) |
4 |
5 |
|
Subtotal (points earned before any applicable deductions) |
40 |
50 |
|
Points Deducted |
||
|
Mechanics (~ -10%) |
up to -5 |
|
|
Format (~ -10%) Appearance – professional-looking, proper spacing, avoids crowding of elements. |
up to -5 |
|
|
Total (points earned minus any applicable deductions) |
0 – 50 |
|
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