The Ansary Entrepreneurship Competition features student teams in a high-stakes contest to persuade prospective investors to help them turn their Senior Design Projects into effective businesses. Students deliver elevator pitches as they compete for the Ansary Prizes for Entrepreneurship, totaling $17,500.
About the Ansary Foundation
Prizes for the competition are provided by the Cy and Jan Ansary Foundation, which supports education, entrepreneurship and other philanthropic causes. The foundation was established by Cy and Jan Ansary in 1983 to support educational opportunities for promising economically disadvantaged students and to promote interest and teaching of entrepreneurship and business concepts. The Ansary family are prominent international lawyers, financiers, entrepreneurs, educators, authors and philanthropists. The Cy and Jan Ansary Foundation has supported the Ansary Entrepreneurship Competition and Prizes at the Stevens Innovation Expo since 2016, establishing an endowed fund to support the competition and prizes in 2018.
What is an elevator pitch?
An elevator pitch is a short presentation made by an entrepreneur raising money for a venture. The term describes a pitch that is short enough that it could be given during an elevator ride when the entrepreneur has the only chance to talk with a potential investor. In this competition, senior students take their design project and turn it into a potential business. For this year’s virtual event, a preliminary competition was held to narrow an initial pool of almost 170 teams to fewer than 20. The final teams were scheduled to submit their three-minute virtual pitches to the judges prior to May 1 to be scored on two metrics: fundability and presentation.