About the Event
UBERPITCH LAUNCHES IN HAWAI’I
Your Investor is Arriving Now
At Sultan Ventures, we’re always pushing new initiatives to promote entrepreneurship in Startup Paradise. That is why were excited to work with Uber to bring UberPITCH to Hawai’i!
Uber, one of the world’s biggest, most successful startups, continues to innovate with UberPITCH – an elevator pitch on wheels. With the push of a button, you could have the opportunity to pitch your idea for potential funding from one of 12 investors in Hawai’i, as well as other prizes from Sultan Ventures.
“Sultan Ventures believes in the promotion of all startups in Hawai’i, regardless of shape or size, ranging from a small or lifestyle business concept to a high-growth endeavor capable of being the next Uber.”
— Tarik Sultan | Sultan Ventures
UberPITCH is a collaboration between UBER and Sultan Ventures to bring even more innovation to the ever-growing Hawaii startup community. On Tuesday, 9/13, from 12-4 pm, Uber will offer free rides on Oahu and Maui to a select group of ambitious entrepreneurs to pitch an investor.
“We’re excited to launch UberPITCH for the first time in Hawai’i! Everyday, Uber connects thousands of people in Hawai’i to safe and reliable rides. With UberPitch, we want to connect those with the ‘next big idea’ to investors and seasoned business leaders with the means and know-how to turn ideas into operational businesses. There is no better partner to do this with than Sultan Ventures, who is at the forefront of Startup Paradise.”
— Tommy Pierucki | Uber
Riders will get 15 minutes to pitch their ideas and receive feedback from one of 9 investors in Honolulu or one of 3 investors on Maui. Investors will be evaluating the ideas following the outline below. At the end of the day, Sultan Ventures will announce the top 3 pitches who will win mentoring; access to co-working space; advance to the final screening for Cohort 5 of the award-winning XLR8UH venture accelerator*; and potential funding for their idea!
We wholeheartedly support events such as UberPITCH and are excited to hear from Hawai’i’s innovators.”
— Meli James | Sultan Ventures
Your Passion Led You Here. Let Uber And Sultan Ventures Take You There.
For more information about the competition see UberPITCH details below:
PRIZES
First Place
• Four hours of mentorship from Sultan Ventures,
• Four weeks of free co-working space at Sultan Ventures offices, and
• Advance to final screening for Cohort 5 of XLR8UH.*
Second Place
• Two hours of mentorship from Sultan Ventures,
• Two weeks of free co-working space at Sultan Ventures offices, and
• Advance to Round Two of screening for Cohort 5 of XLR8UH.*
Third Place
• One hour of mentorship from Sultan Ventures,
• One week of free co-working space at Sultan Ventures offices.
*Rider must be affiliated (student, faculty, alumni) with the University of Hawaii
PITCH CRITERIA
How Investors Will Evaluate Your Pitch
| Topic | Weight | Description |
|---|---|---|
| Intro & Ask | 5% | Who are you, what is the name of your idea and why are you pitching today? Are you seeking funding, advice, connections, etc.? |
| Problem | 10% | What is the problem / pain that you are trying to solve. |
| Solution | 10% | How do you propose to solve this problem? What is your unfair / competitive advantage? |
| Market Size | 10% | What is the opportunity of this market? How big is the market (dollars, people, units, etc.). Bonus points for identifying your addressable market. |
| Competition / Current Solutions | 10% | How is the problem currently being addressed? (Hint, there is always competition). |
| Team | 10% | Who is part of your team and why are you the team that can solve this problem? |
| Revenue & Business Model | 10% | How do you plan to make money? How much money can you make in Year 1 vs. Year 5? Keep numbers simple – back of the napkin math. |
| Exit | 10% | If you are seeking investment, how does the investor get their money back, when, and how much of a return are you anticipating? |
| Q & A | 25% | Are you able to think on your feet? Investors will ask a few questions and judge your ability to answer questions. |
UBERPITCH DETAILS
• Honolulu participants can submit their application here.
• Maui participants can submit their application here.
• If your idea is selected, a promo code will be shared with you on Monday, September 12th, allowing you to unlock the UberPITCH view on the Uber app.
• On Tuesday, September 13th, between 12pm and 4pm, request UberPITCH for the chance to pitch your idea to an investor.
• If you don’t secure a pitch on your first attempt, keep trying! Demand will be high.
• All UberPITCH rides are FREE and will start and end at your pickup location.
• Only users whose ideas are selected will receive a promo code.
• For more information including click here.