Eighteen state startups took to the stage to pitch their companies during lightning rounds at the Elevator Pitch Olympics in Madison last week.
Held at the Monona Terrace convention center, the annual competition was part of the Wisconsin Early Stage Symposium, a two-day event put on by the Wisconsin Technology Council.
The contest drew a crowd of roughly 150 conference attendees, who watched as founders presented their ideas, and received scores and feedback from the event’s investor panel in real-time.
Entrepreneurs had just 90-seconds to present their ventures to the VCs.
The judges included:
- Jonathan Ellis, Sandalphon Capital
- Abhinaya Konduru, M25
- Mike Thorson, Inventure Capital and Wisconsin Investment Partners
- Allison Weil, Hyde Park Venture Partners
- Austin Woods, Lewis & Clark Ventures
In the end, three startup founders took home the trophy prizes. They included:
- Nicole Sdao, CEO at LetsThrive360: The mobile-app founder, based in Madison, has created a platform to “make a difference” by allowing users to track and verify volunteer hours. Sdao envisions the app being used to highlight nonprofit organizations, gauge employee community engagement, or track community service hours within the prison industry. 1st Place
- Morgan Shelton Phelps, CEO at Colorful Connections: The Milwaukee-based journalist-turned-PR-pro has launched a staffing agency to connect employers to diverse talent. Phelps said the full-service agency fulfills the diversity gap that exists within the creative industry to better reflect the country’s increasingly diverse consumer market. 2nd Place
- Jai Karnik, co-founder and COO at Mistifeye: Based in Madison, the recent Cornell graduate and his business partner have developed “a simple and safer eye care solution.” The handheld device uses vapor mist to administer a medical eye care solution, eliminating the need for uncomfortable angling—or children wrangling—to apply. 3rd Place; People’s Choice
Wisconsin Technology Council President Tom Still said the organization received more than 87 applications from early-stage companies seeking to pitch at the event’s Elevator Pitch Olympics and Tech Council Investor Networks breakouts. Typically, the companies selected for the Elevator Pitch Olympics are earlier in the process of company formation and growth, he added by email.
“This competition, in particular, provides a platform that is well-attended by investors from Wisconsin, the Upper Midwest, and beyond,” including giving the companies needed exposure, Still said. “The [event] has been a springboard for young companies in other ways … connecting them with other organizations in the entrepreneurial world, and providing a sense of ‘belonging’ in a broader community of startups.”
Manny Lara didn’t take home a trophy but said the event was a great learning experience. The Milwaukee-based entrepreneur pitched two ventures to the VC panel.
“With entrepreneurs, there is a lot of pride but it’s important to be open and accepting the judges’ feedback,” Lara said. “The number of connections you make here is amazing, and I’ve learned so much. The judges’ feedback was really valuable.”
A list of the remaining companies that pitched at the Elevator Pitch Olympics event can be found here.
