Friday, October 8, 2010
If you had just two minutes to pitch your new invention to an auditorium full of high-roller investors, what would you show them?
Whatever it is, start planning now for next year’s “Quick Pitch” competition.
The annual event is hosted by Tech Coast Angels, a southern Californian group that helps start-up companies get funded.
But this is no old-fashioned science fair...far from it. The “Quick Pitch” competition is a fast-paced, high-tech, high-stakes investment competition for a variety of new products, drugs, and websites.
Of the 100 applicants, just 14 made it to the finals held at Qualcomm Hall.
The inventions included electrolyte infused wine, an Uzi-style pepper spray gun, green building materials and an eHarmony-styled website that caters to the LGBT community.
Each of the inventors had two minutes to pitch their ideas to a panel of judges and an audience of 500 investors.
Just minutes before they took the stage, I asked them to tell me about their products in 10 seconds or less.
“We’ve developed a premium wine that’s a lighter and healthier option of wine that has all of your antioxidants and glyco-nutrients,” said Jayla Siciliano, founder of Bon Affair.
Following the vitamin-infused wine sampling, Frank Mastronuzzi is the founder of OneGoodLove.com.
“We’re an online relationship-focused dating site for the gay and lesbian community,” said Mastronuzzi.
Andrew Ritter, president and CEO of Ritter Pharmaceuticals, said his company created a medication that would allow lactose-intolerant people to be able to eat ice cream for a month.
“We have a product for lactose intolerance. The product is a program that treats lactose intolerance long term," said Ritter.
The panel of judges and the audience voted for their favorites. Each pitch was judged on investment potential and presentation.
After a whirlwind of passionate pitches, Ritter Pharmaceuticals won for overall best with its long-term lactose intolerance pill.