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Movin' on Up

Two winning teams of MBA students get a rise out of vying for investors' attentions.

This story appears in the September 2002 issue of Entrepreneur. Subscribe »

You may have heard of the "elevator pitch," but MBA students who competed in the third annual Babcock Elevator Competition at Wake Forest University (WFU) in Winston-Salem, North Carolina, lived it. In this new take on the business plan competition, winning meant mastering the art of fast-talking.

The object of the contest was to craft a two-minute pitch and deliver it to a VC during an elevator ride. "This competition was designed to simulate reality," says Stan Mandel, faculty leader of the competition and director of the Angell Center for Entrepreneurship at WFU. "You must be able to make concise, effective pitches to influential individuals."

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