Get All Access for $5/mo

Entrepreneur Elevator Pitch Season 5 Episode 1: New Season, New Rules Season 5 introduces the Wild Card and a group of new entrepreneurs.

By Entrepreneur Staff

Entrepreneur Elevator Pitch invites ambitious entrepreneurs to step into the Entrepreneur Elevator, then gives them just 60 seconds to pique the interest of a group of judges. It's a high-pressure, fast-paced environment in which startup founders need to race against the clock while maintaining their composure to make a clear, deliberate pitch that covers at least three essential components:

  1. Defining the company
  2. Making the request
  3. Specifying what the investment money will be used for

The investors watch the pitch via a video livestream while the elevator ascends to the boardroom floor. Once the 60 seconds are up, the judges vote on whether to open the doors or send the founder back down and pass on investing.

Related: Entrepreneur Elevator Pitch Season 4 Episode 12: 'I'm a Failed Entrepreneur'

The fifth season of Entrepreneur Elevator Pitch offers a dynamic change in the show's format. Before, our four judges once needed unanimous agreement to make an offer to the pitching entrepreneurs ⁠— including three out of four "yes" votes just to open the elevator doors. Now, it only takes one.

That's one investor to open the doors and one judge to make an offer. The panel of four can choose whether they want to collaborate or compete against one another, and the first pitch of Season 5 gives them a chance to do just that.

When the four judges are split after the 60-second pitch, investors Peter Goldberg and Kim Green-Kerr don't bother trying to convince the other two, Kim Perell and David Meltzer, to join in.

Instead, they open up the floor to a beauty business projecting "conservatively" to make $2.5 million in 2020, despite making only $100,000 over the past calendar year. Those numbers force one of the judges who initially voted to open the elevator doors to drop out. However, not only does the remaining judge decide to make an offer, but the other two decide to jump in on the fun, using a new tool introduced this season called the Wild Card. This allows each investor, once per episode, to make an offer — despite voting "no" on opening the doors.

The new investors' involvement begs the question: Will they work together to make an offer or battle it out against one another?

Play the video to find out what happens and watch the rest of the pitches.

Entrepreneur Elevator Pitch, in partnership with Sports 1 Marketing, streams Wednesdays on Entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

More from Entrepreneur Elevator Pitch

Watch the Pitch That Landed $10K in 60 Seconds

'Do You Like the Taste of Making Money?' Investors Weigh In on Crazy New Food Biz Pitches.

Who Wins Big on the High-Stakes Season Finale of 'Elevator Pitch'?

What Should You Value More — An Investor's Money or Their Experience?

Side Hustle

This Mom Started a Side Hustle on Facebook — Now It Averages $14,000 a Month and She Can 'Work From a Resort in the Maldives'

Heather Freeman was searching for a way to make some extra cash — and her cousin gave her a great idea.

Starting a Business

He Turned His High School Science Fair Project Into a Product That Solves a $390 Billion Problem: 'This Has Not Been Done Before'

Vasya Tremsin was just 18 years old when he came up with the idea for outdoor fire sensor company Torch Sensors.

Business News

Why Does Taylor Swift Keep Stopping Her Shows Mid-Song? It's Actually a Great Lesson in Leadership.

Taylor Swift has paused nearly half of her shows while on the European leg of her Eras tour, and the reason is something leaders can learn from.

Side Hustle

This 26-Year-Old's Side Hustle That 'Anybody Can Do' Grew to Earn $170,000 a Month. Here's What Happened When I Tested It.

Stephen Alvarez was working at a dental supply company and following his passion for cars on the side — then an Instagram ad changed everything.

Business News

Melinda French Gates Says This Mindset Hack Helped Her Overcome Imposter Syndrome

Melinda French Gates said she faced (and conquered) imposter syndrome while working at the Bill and Melinda Gates Foundation. Here's how.