90 seconds is short; you can spend it waiting at a red light or scrolling through your Facebook news feed. Imagine trying to convince an audience that you have a great business idea in that same timeframe. Did I mention you need to come across as calm, cool, and collected?
My company Module made those seconds count last Tuesday, taking home 1st Place at the 2016 MIT Enterprise Forum Pitchfest. Sixteen companies ranging from medical devices to a savings app gave “elevator pitches.” After one minute and a half, a man with a stopwatch cut presenters off ABRUPTLY. There was no “Oscars exit music,” and no finishing your last sentence. After the companies pitched, audience members texted-in to vote for their favorites (the top three would move on to the final round). As votes trickled in, a live feed represented which company was in the lead:
My company Module made those seconds count last Tuesday, taking home 1st Place at the 2016 MIT Enterprise Forum Pitchfest. Sixteen companies ranging from medical devices to a savings app gave “elevator pitches.” After one minute and a half, a man with a stopwatch cut presenters off ABRUPTLY. There was no “Oscars exit music,” and no finishing your last sentence. After the companies pitched, audience members texted-in to vote for their favorites (the top three would move on to the final round). As votes trickled in, a live feed represented which company was in the lead:
As the leaderboard constantly changed I felt like an American Idol contestant, on pins and needles hoping to edge into the top three. The favorites, RoomLeopard, Module, and Chiroproktor, then gave a five minute pitch in front of the judges. I knew that once we made it to the finals, our compelling story could take the audience's imagination for a ride. Fortunately for us, the judges agreed and selected Module as the winner!
So, what was our pitch about? Module is trying to tackle America's housing crisis with a contemporary approach. Nationwide, 1 in 4 Americans pay more than half their income on rent, leaving many people priced out of living in the city. But what if we could change that by reimagining what a home is? Our houses start small, and they GROW with your family. The house changes as your needs do, or as you can afford it. With our modular design and patent-pending structural system, it's easy to convert a one-bedroom starter unit into a three-bedroom house over time. For more information on Module, please visit our website or Facebook page.
It felt great to come out on top, not just for the cash prize and the mentorship we received, but for the proof that we are on to something that resonates with people beyond our immediate network of friends and mentors. We are proud to be part of the burgeoning entrepreneurship community in the Steel City, and events like the MIT pitchfest as well as Unstuck PGH, and Hackers & Founders are ways to stay involved. I would like to thank MIT Enterprise Forum and the judges for volunteering their time, and I look forward to sitting in the audience at next year's pitchfest!
Brian Gaudio
Co-Founder @ Module
So, what was our pitch about? Module is trying to tackle America's housing crisis with a contemporary approach. Nationwide, 1 in 4 Americans pay more than half their income on rent, leaving many people priced out of living in the city. But what if we could change that by reimagining what a home is? Our houses start small, and they GROW with your family. The house changes as your needs do, or as you can afford it. With our modular design and patent-pending structural system, it's easy to convert a one-bedroom starter unit into a three-bedroom house over time. For more information on Module, please visit our website or Facebook page.
It felt great to come out on top, not just for the cash prize and the mentorship we received, but for the proof that we are on to something that resonates with people beyond our immediate network of friends and mentors. We are proud to be part of the burgeoning entrepreneurship community in the Steel City, and events like the MIT pitchfest as well as Unstuck PGH, and Hackers & Founders are ways to stay involved. I would like to thank MIT Enterprise Forum and the judges for volunteering their time, and I look forward to sitting in the audience at next year's pitchfest!
Brian Gaudio
Co-Founder @ Module