Four minutes.
That’s how long the 25-year-old owners of FluxTeq were given to pitch their startup business to judges during the Virginia Velocity Tour last month.
FluxTeq produces heat flux sensors, something that’s hard to describe in just a sentence or two. Four minutes is not much time for anyone to learn the real value of a growing business, but in a pitch competition a few minutes is usually all you get.
After the hit show “Shark Tank” premiered on ABC in 2009, business pitch competitions have cropped up all over the U.S. Many took the model of the show: Business leaders and potential investors hear quick-hit pitches from a startup or small business seeking investment. Participants get feedback, advice and, if the pitch goes well, money for their business.
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