Elevator Pitch and Concept Statement

Your task
Individually, you are required to develop a three-page concept statement for an entrepreneurial
venture and pitch the idea to the class. The class will assume the role of potential investors.

Assessment Description
The purpose of this assessment is to provide students with an opportunity to use a concept
statement template to format and plan the delivery of their elevator pitch. The concept statement will
provide the required learning to develop a comprehensive and well-structured business plan for a
new venture. The elevator pitch will provide you with the necessary skills to present a business plan
to potential investors or internal stakeholder and effectively answer probing questions on the
substance of the plan.

Assessment Instructions
Venture Idea: your first task is to come up with a new venture idea. This idea can be for a
commercial venture or a venture that addresses a social issue (a social enterprise idea). The
venture should not be a mere copy of an existing idea.
Concept statement template: after finalising the venture idea, you need to complete the concept
statement template. During this process, you must seek guidance from the workshop facilitator. The
concept statement will allow you to focus on essential aspects that would highlight the commercial
(or social) viability of the venture. You should integrate scholarly literature when completing the
concept statement.
Elevator pitch format: you can use the elevator pitch format to prepare for the in-class pitch.
In-class pitch: in the class during week eight, each student will get a maximum of two minutes to
present the venture idea to the class. Apart from presenting, each student must ask at least one
question from another student.

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