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About the Pitch

About the Pitch

Teams selected as semi-finalists will pitch their businesses live to a panel of judges on September 25th at the 41st Annual Conference & Exposition presented by NBMBAA®. This section outlines the requirements of the pitch challenge.

Pitch Components

Teams will present their ideas/concepts to a panel of judges with a 3-minute time limit. Pitches should include:

1. Product or Service – Briefly describe the product or service.

2. Value Proposition – How is the product or service going to add value for customers?

3. Target Audience – Who will be buying the product or service?

4. Market Size – How big is the target market?

5. Differentiation – How is the product or service different from existing products or services? What is the competitive advantage? (patent, algorithm, unique service model, etc.)

6. Revenue Model – How will the product or service generate revenue? (sales, subscription, advertisement, etc.)

7. Revenue Estimate – How much is expected to sell in the first year of business?

Time

Each team is allocated three (3) minutes for presenting and an additional three (3) minutes for a Q&A session with the judges. The clock will start when the presenter begins to speak.

Presentation & Materials

Teams should submit a PowerPoint presentation to accompany the pitch using a template that will be emailed to semi-finalists. This presentation should be submitted no later than 6pm eastern on Sept 24th via a Dropbox link that will be provided. Presentations should follow the format and template provided. Teams can also display/share/show their prototype, samples, or posters. However, materials may not be distributed to the judges or the audience during the pitch.

Judging Criteria

Judges will evaluate companies based on four core criteria designed to test the merit and scalability of businesses:

1 – Business/Revenue Model

Does the business have a defined, realistic, tested and scalable business model? Is there a current positive trend in revenue growth? How will the company use the funds to promote sustainable growth? Is the IP protectable? What is the barrier to entry? Does the company run efficiently?

 

2 – Product/Market Fit

Have you conducted customer feedback/market research? Is there demand for this product? Will the market bear your pricing structure? How will future trends affect the business trajectory?

 

3 – Team Capabilities & IP

Does the founding team have the requisite skill-set and core competencies to execute on the idea? Do you have deals in place with vendors and suppliers? Have you identified team weaknesses? How do you plan on filling these gaps?

 

4 – Execution (Technical, Business & Product)

How has the business executed on ideas to date? Is the product well-designed? Is the business set up efficiently/effectively? Where is the product in its lifecycle? How will you advance the product to its next stage?

 

Annual membership contract, paid in monthly installments with automatic renewal Service begins as soon as your initial payment is processed. You will be charged 1/12 of the annual membership fee at the time of purchase, every month for the duration of your annual contract. Your membership contract will renew automatically, on your annual renewal date, until you cancel your membership in writing no later than 30 days prior to your annual renewal by contacting membership support. Renewal rates are subject to change, but you will be notified at least 30 days prior to your annual renewal date if your renewal rate will change. Should you cancel before your one-year term has expired, you will be charged 100% of your remaining contract obligation and your service will continue until the end of until the end of your contracted term. Cancellations can be made any time by contacting membership support in writing. Annual prepaid membership contract, with automatic renewal Service begins as soon as your payment is processed. You will be charged, immediately in full, the annual membership fee at the time of purchase. Your contract will renew automatically, on your annual renewal date, unless you cancel your membership in writing by no later than 30 days prior to your annual renewal date by contacting membership support. Renewal rates are subject to change, but you will be notified at least 30 days prior to your annual renewal date if your renewal rate will change. Should you cancel before your one-year term has expired, your payment is non-refundable, and your service will continue until the end of your contracted term. Cancellations can be made any time by contacting membership support in writing. Activation of Membership Memberships will become active upon processing of all materials at National Black MBA Association (NBMBAA) headquarters. Existing Lifetime and Associate Lifetime Members The Lifetime or Associate Lifetime membership is no longer offered. Existing Lifetime or Associate Lifetime members who have paid in full are active for the duration of his or her lifetime, from their membership activation (see activation of membership). Lifetime or Associate Lifetime members are no longer eligible for any other membership type. Student Members Student memberships are active for 12 consecutive months, beginning at activation (see activation of membership). You will be considered a student member as long as you are actively enrolled in a recognized undergraduate or graduate degree program. Your membership should be upgraded to a Professional or Associate membership upon the expiration of your current membership, subsequent to graduation. You are required to submit proof of your current enrollment. The following items will be accepted as proof of current enrollment: • Letter from the registrar acknowledging your current enrollment status • Copy of your tuition bill • Class schedule reflecting your current enrollment. Should you fail to submit proof of current enrollment within 60 days, your membership may be terminated, and your payment will not be refunded. You will then need to reapply for membership. Refund Policy The NBMBAA will only provide refunds for the following reasons: • Verified duplication of billing • Verified overcharges • Submission of incorrect member type resulting in one of the above Refunds will be provided as follows: • Credit card payments will be credited to that same credit card. • Cash and check payments will be credited by NBMBAA check after 30 days, and only after initial payment has cleared our financial institution. * Refunds will be issued only upon request of the individual. The NBMBAA will vigorously defend itself against credit card charge backs. In the event that your credit card company requests a credit for charges, we will comply only to the extent that the request meets the requirements of the refund policy. (See above). Recurring Payments If you choose a recurring payments option to automatically renew your membership, you are responsible for canceling it prior to annual recurrence to avoid charges. Once charged, your membership will not be refunded. Notice of Photography and/or Videography As a condition of membership, individuals grant the National Black MBA Association an irrevocable nonexclusive license to use their name, image, voice and likeness for the purpose of advertising and promoting NBMBAA events, activities and products without any further approval from you or payment to you. It is the NBMBAA’s right to make visual and audio recordings, and still images of its members (collectively “Photography”) and to use the Photography and member’s name. However, none of the above shall be deemed as an endorsement for any NBMBAA product or service. Without limiting the generality of the foregoing, members agree that the rights granted hereunder shall include the perpetual, worldwide right of NBMBAA to edit, telecast, rerun, record, publish, reproduce, use, license, print, distribute or otherwise exploit, in any manner and in any medium or forum, whether now known or hereafter devised. Terms and Conditions are subject to change without prior notification. Revised: April 5, 2017. NBMBAA®