GREENFIELD – Do you have time to hear a pitch on a new business idea?
If so, meet in the Greenfield Community College Shark Tank on Friday.
GCC’s Business Club has organized its second entrepreneur competition in which students pitch their future business ideas on stage in front of a live audience and panel of local judges from noon to 2 p.m. The competition in the school’s dining commons will be held in a elevator pitch format, meaning participants will deliver a short summary to explain their ideas – as if they are limited to the time spent on a typical elevator ride.
The competition is modeled after “Shark Tank,” an ABC television show in which budding entrepreneurs lobby for investments from a panel of business geniuses.
Business Club President Jamie Cocco said the competition was started last year and this year’s installment will be different in that the judges will this time offer feedback and ask questions. The winner will, like last year, go on to the Harold Grinspoon Foundation’s Elevator Pitch Competition.
“It was phenomenal. We had almost 200 people show up to the event. It was really great,” said Cocco, who is working toward a transfer degree in business administration. “It was a great experience.”
The students have been given professional development support for their ideas through faculty volunteering, according to the business club. Once the contestants have pitched, the judges will take a 15-minute intermission for the judges to decide on first, second, and third place. During intermission, the audience will vote for their favorite contestant, who will receive a $150 cash prize.
The judges will be Annie Lytle-Rich, manager of Shelburne Falls Coffee Roasters, Samalid Hogan, regional director of Massachusetts Small Business Development Center, Tom Pisano of UMassFive College Federal Credit Union, and Charles Johnson, associate director of the Berthiaume Center for Entrepreneurship.
Cocco said last year’s winner was student Mario Gonzalez Castillo, who pitched converting an abandoned greenhouse into a community garden. Cocco also said the third-place finisher, who pitched a car service that accommodates clients at their homes, later got a job at the Harold Grinspoon Foundation. Cocco said roughly 10 students will deliver pitches this year.
The grand prize winner will be awarded $400 in cash and a $700-plus prize pack. They will also advance to the Grinspoon competition and receive $100 there, as well as a chance to win another $1,000. The second-place finisher will get $250 in cash and a $100-plus prize and the third-place finisher will receive $100 in cash in addition to a $100-plus prize pack.
The event is free and tickets are not required, though seats are limited to 200. VIP tickets are available to reserve a seat and get early entry at 11:40 a.m. through Eventbrite at: http://bit.ly/2fzP64O
Audience members are also eligible for one of four prize packs, each valued at more $600. Audience members will get a free raffle ticket when they arrive. All the money and prizes at the event have been donated by 40 local businesses. The GCC Business Club doesn’t make money off this event, as all gifts and certificates collected will be redistributed to audience members and contestants. Donations will contribute to the club’s yearly business trip. For every dollar donated an audience member will receive an additional raffle ticket.
You can reach Domenic Poli at: dpoli@recorder.com or 413-772-0261, ext. 258. On Twitter: @DomenicPoli