Effectively your video will act as an ‘Elevator Pitch’ to help capture the judges’ attention.
What’s an elevator pitch? An elevator pitch is a brief overview of your idea that can be delivered in the space of an elevator ride. In this case: in less than 90 seconds or about 300 – 450 words:
So what to say in your video?
- Try to grab attention from the first minute – What is your relevant background? Describe your idea? What the product or service is?
- It needs to be a story about problems and solutions – What problem is it solving? How innovative is it? What is your value proposition?
- Who are your competitors? – Is there a competitor or competitors? If yes, why is your idea better?
- Make sure you say what you’re going to do with the investment – What are your key development milestones?
- Explain how you’re going to make money – Who you think will buy it? How quickly you can commercialise it? Do you own the intellectual property?
- Whilst always ensuring you keep the energy up throughout – Those reviewing your video will want to see the passion and motivation you have for making your idea and business successful.
- And lastly, although they use a slightly different emphasis and timeframe, as presented in this video from Start-Up Health, practice, practice, practice!
So who has done it well? One of the best examples we found that’s appropriate for your 90 second pitch is this example from Josh Light of Utah State University when presenting his coffee cup advertising business – succinct, articulate and passionate!
And again with this example from Genevieve Catalano from the University of Dayton with her business TravelBlender – notice how she quickly identifies the problem and uses a simple comparative metaphor to explain what her business is and how it provides the solution.
As illustrated in this slightly humorous take on the whole process from Sean Wise – problem, solution AND show me the money!
So apart from what to say and how to say it, there is also the technical aspect of production – filming your video. Now we don’t expect you to be a James Cameron or a Steven Spielberg but here are a few tips when filming your video.
Filming Your Video
Get help – It’s a good idea to ask a friend or colleague to help you produce your video – two heads are better than one as they say and having someone there to assist and provide feedback will be invaluable.
Background – Consider the background and sound. If indoors, avoid shooting straight at a window and if outdoors, be aware of background noise. There’s nothing worse than having to strain to hear what’s being said or for that matter, see who’s saying it!
Record a little extra – It’s always a good idea to record a little extra before you start and finish – just a slight pause so that you can compose yourself before beginning and at the end so that the viewer holds a more lasting impression.
Test – Once you’ve chosen your location, do some tests to ensure that the overall quality is good.
And again practice! – may be you’ll be a one-take wonder but it’s always useful to have a few videos from which to select the best.
And it’s very easy to add your video when completing your application.
Towards the end of the application process, you will be invited to upload your video (maximum size: 50MB) or to add a video link from your YouTube or Vimeo account.
Here possibly is advice that will show you how NOT to enhance your application with a video elevator pitch! Good luck!