In year one, Phillip Ashley Rix and his company, Phillip Ashley Chocolates, claimed victory. In year two, Lia Winter and her medical device business, Winter Innovations, took the top honor.
Now year three is upon us, and the question remains — which local startup will follow in their footsteps, and be deemed “The Next Big Thing?”
After being delayed by the COVID-19 pandemic, the pitch competition hosted by The Society of Entrepreneurs and Epicenter is back, and it will be held in the Methodist Presentation Theatre at University of Memphis’ FedEx Institute of Technology, on Nov. 18.
Called The Next Big Thing, it provides local startups and scale-ups the chance to compete for $10,000, as they make elevator pitches made before a panel of judges.
“It’s fun,” said Pearson Crutcher, executive director of the Society of Entrepreneurs. “There are so many cool things in Memphis, and seeing [the startups and scale-ups], and seeing the excitement in what they’re doing, is very cool.”
The last event was held in February 2020, and initially, this year’s edition was supposed to be held in February too. But the pandemic made this difficult, and it was pushed back. Hopefully, Crutcher noted, the Delta variant will have tapered off by November, so the room can hold the same number of attendees — about 120 — it had last go-round.
Startups interested in competing should click here to fill out an application, while scale-ups interested should click here. Applications are due Sept. 30, and six will be chosen to participate in the event.
Those selected are set to receive training before the contest from Epicenter, who will work with them on their presentations. The pitches typically last three to five minutes, and they’re followed by a few questions from attendees.
The event is slated to go from 4 p.m. to 6 p.m., and Crutcher estimates the series of pitches will last until about 5:15 p.m. This is followed by a cocktail reception for participants and attendees, while representatives from the accounting firm The Marston Group tally votes. After this, the winner is announced.
But even those who don’t win will receive feedback from the judges, so they can adjust their pitches for the future. And Crutcher believes they also gain something else that’s key: experience.
“It’s so important to have the elevator pitch,” she said. “You never know who you’re talking to, and when it might make a difference. If you have an idea, do it. And the more you do it, the better you get at it."
