The Pitch Competitions
Elevate Nexus Pitch Competitions are organized into four classes:
- Regional Pre-Seed Awards ($20,000)
- Regional Seed Awards ($80,000)
- Statewide Pre-Seed Awards ($40,000)
- Statewide Seed Awards ($100,000)
Pre-seed awards are for startups seeking funds to build a minimum viable product. Seed awards are for companies that are further along and are building and testing the processes that will be used to ultimately scale the business. It is up to the business to review the eligibility requirements below and determine if they should apply for a Pre-Seed or Seed Pitch Competition.
Applicants are not required to have participated in the pre-seed category prior to applying for the seed category. Applicants who have previously applied for one category may reapply in the same category or apply to a different category in subsequent competitions.
Businesses should select the region in which the business is headquartered. Winners of regional pitch competitions are eligible to pitch at the statewide competition for the same award category they won.
Regions
Northern Region Counties
Adams, Allen, Benton, Blackford, Carroll, Cass, DeKalb, Elkhart, Fulton, Grant, Howard, Huntington, Jasper, Jay, Kosciusko, LaGrange, Lake, LaPorte, Marshall, Miami, Newton, Noble, Poter, Pulaski, St. Joseph, Starke, Steuben, Wabash, Wells, White, and Whitley counties
Central Region Counties
Boone, Clinton, Delaware, Fayette, Fountain, Hamilton, Hancock, Hendricks, Henry, Johnson, Madison, Marion, Montgomery, Morgan, Parke, Putnam, Randolph, Rush, Shelby, Tippecanoe, Tipton, Union, Vermillion, Warren, and Wayne counties
Southern Region Counties
Bartholomew, Brown, Clark, Clay, Crawford, Daviess, Dearborn, Decatur, Dubois, Floyd, Franklin, Gibson, Greene, Harrison, Jackson, Jefferson, Jennings, Know, Lawrence, Martin, Monroe, Ohio, Orange, Owen, Perry, Pike, Posey, Ripley, Scott, Spencer, Sullivan, Switzerland, Vanderburgh, Vigo, Warrick, and Washington counties
Eligibility Criteria
Regional Pre-Seed Awards
Awards should be used for early-stage product or service development- essentially, for preparing the company to maximize its future fundraising opportunities via the assembly and testing of a coordinated, effective core team and the building of a minimum viable product (MVP) that goes beyond a prototype.
To be considered, companies must:
- Be Indiana based
- Have a total addressable market of over $500M
- Have a unique value proposition
- Have a committed team with ambition to create a venture-backed, high-growth, enterprise
- Preferably, be engaged with a college or university participating in the Elevate Nexus program
- Be available to present the company pitch deck in front of an audience to a panel of judges.
Regional Seed Awards
Awards should be used for companies that have already validated their value proposition and are developing the levers with which they will define how their businesses will ultimately scale via an infusion of venture capital. It is not necessary to have received a pre-seed award to be eligible for a seed award.
To be considered, companies must:
- Fulfill all regional pre-seed award requirements outlined above
- Have completed an MVP, or if selling in a government regulated field (i.e requires FDA, USDA approval) the company should have a viable plan toward developing a completed prototype or trial results
- Have conducted customer discovery, and preferably, gone through a formal customer discovery process
- Start to demonstrate professional operations by adding expertise as managers, board members and/or advisors
- Preferably, have validated the company’s value proposition by generating early revenue, securing signed contracts, and/or established strategic partnerships with entities that will license or buy the company’s intellectual property upon future development
- May have, or are in the process of, raising capital
Statewide Pre-Seed Awards
To be considered, companies must:
- Fulfill all Regional Pre-Seed Award Criteria outlined above
- Have won a Regional Pre-Seed Award
Statewide Seed Awards
To be considered, companies must:
- Fulfill all Regional Seed Award Criteria outlined above
- Have won a Regional Seed Award
Award Terms
Elevate Nexus pitch competition awards are convertible notes with a 20% discount, 8% interest, and a 3-year maturity.
Pre-Seed Regional and Statewide awards carry a $1.5M cap while the Seed Regional and Statewide awards have a $3M cap. Terms could be negotiable, subject to an evaluation from the Elevate Ventures investment committee, if the business is currently in the process of raising a round with commitments already made.
Companies are only considered winners once a term sheet is accepted.
Specifications to Apply
Applicants must submit their pitch deck and executive summary following the exact specifications outlined below. Failure to do so will lead to immediate disqualification.
1. Pitch Deck
Provide a pitch deck following the exact order and number of slides below. New to this class of pitch competitions, the team slide has been moved to the second slide position and an appendix is allowed following the necessary 10 slides:
- Title Slide
- Team
- The Problem
- The Solution
- Market Size
- Competition
- Business Model
- Marketing and Sales
- Three-Year Milestones
- Ask and Use of Funds
Following the first ten slides, an appendix with additional slides is allowed.
2. Executive Summary
Provide a one-page executive summary covering the following topics in the exact order listed below:
- Team
- Problem
- Solution
- Market Size
- Competition
- Business Model
- Marketing and Sales
- Progress to Date
- Future Milestones
Schedule by Location
Following each application acceptance period, applications will be reviewed, and finalists will be selected. All applicants will be notified the status of their application once decisions have been made. At that time, finalists will be notified exactly how many minutes they will have to present their pitch deck and accept questions from judges. Finalists will be notified with a cutoff date to make updates to their pitch deck prior to presenting. Updates though must remain within the application guidelines.
| Spring 2021 Regional Pitch Competition | Statewide 2021 Pitch Competition | Fall 2021 Regional Pitch Competition | |
|---|---|---|---|
| Applications Accepted | April 12, 2021 | June 21, 2021 | October 11, 2021 |
| Application Due Date | April 23, 2021 | July 2, 2021 | October 22, 2021 |
| Finalists Selected | April 27, 2021 | July 9, 2021 | October 29, 2021 |
| Northern Pitch Competition | May 18, 2021 | November 16, 2021 | |
| Central Pitch Competition | May 19, 2021 | November 17, 2021 | |
| Southern Pitch Competition | May 20, 2021 | November 18, 2021 | |
| Statewide Pitch Competition | August 12, 2021 |
| Spring 2021 Regional Pitch Competition | Statewide 2021 Pitch Competition | |
|---|---|---|
| Applications Accepted | April 12, 2021 | June 21, 2021 |
| Application Due Date | April 23, 2021 | July 2, 2021 |
| Finalists Selected | April 27, 2021 | July 9, 2021 |
| Northern Pitch Competition | May 18, 2021 | |
| Central Pitch Competition | May 19, 2021 | |
| Southern Pitch Competition | May 20, 2021 | |
| Statewide Pitch Competition | August 12, 2021 |
| Fall 2021 Regional Pitch Competition | |
|---|---|
| Applications Accepted | October 11, 2021 |
| Application Due Date | October 22, 2021 |
| Finalists Selected | October 29, 2021 |
| Northern Pitch Competition | November 16, 2021 |
| Central Pitch Competition | November 17, 2021 |
| Southern Pitch Competition | November 18, 2021 |
