It’s hard to believe that we celebrated our Fifth Annual Pitch Competition. For half a decade (and through a pandemic), we’ve had the privilege to showcase 26 women-owned businesses and learn about hundreds more in conjunction with the event. Our 2023 competition was the largest yet, with more than 250 people supporting women entrepreneurs in NYC. We are grateful for everyone who’s helped us on this journey, from our judges, hosts, speakers, finalists, sponsors, and our founders. Thank you for being our inspiration.
Learn more about the 2023 Pitch Competition and the winners here. Watch the entire Competition here.
Building on our secrets from the 2021 Pitch Competition and takeaways from 2022, here are insights from 2023.
Keep Trying– Like an emerging startup, our Pitch Competition keeps growing. This year, we received 310 applications from 34 states, up from 158 submissions in 2022 and 86 in 2021. Drew Lederman, co-founder of Resist Nutrition, applied each year. She took advantage of our feedback sessions (available to all applicants) for two years and was finally named a finalist. Resist Nutrition won the Audience Choice award at this year’s event.
Practice Even When You Are a Professional – Alexandra Baker, founder of In the Kitchen with Alexandra, appears regularly on the Home Shopping Network. She’s used to public speaking and selling her products. However, going first at the Pitch Competition still gave her butterflies. It was an important lesson. “There is nothing like walking through an experience and coming out on the other side to gain clarity and really SEE,” Baker said.
Tailor to the Rubric – Remember the standardized test trick – understand the questions before reading the passage? That way, you can know what to look for in the excerpt. Most pitch competitions have their own rubric or criteria. It doesn’t hurt to ask the organizer how the companies will be evaluated. If you are lucky to receive the information, tailor your presentation accordingly.
Respond to Questions – For our Pitch Competition, each finalist presents a four-minute pitch onstage followed by questions from the judges. “That’s a great question” was a common response from the founders. A common device to mask anxiety or stall while forming an answer, most don’t realize how often it happens. “Thank you for the question” or “appreciate the opportunity to tell you more” are good alternatives.
Keep Your Competition Close – There’s power associated with shared experiences. It’s a bond that will always be there, a connection that will forever exist. Being an entrepreneur can be a lonely profession, and finding others who understand your world can be a lifeline.
Think Outside the Bottle or Inside the Bag – Maybe you are still working on your business idea, and pitch competitions aren’t on the radar yet. While brainstorming, aim for innovation. A twist on a standard product or a new way of thinking. SAYSO, co-founded by Chloe Bergson and Alison Evans, is a cocktail mix in a satchel and took home the top prize. Sipwell Wine Co., founded by Hilary Cocalis, is premium California wine in a can. The brand won the runner-up prize.
Bottom Line:
Lessons can be learned from every experience. It’s essential to take the time to reflect after each opportunity to determine what worked, what didn’t, and how to improve moving forward. Just like an emerging startup, the goal is always growth.
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