Are you a Lyft driver with entrepreneurial goals? Do you have a startup that you’re building? The ridesharing company announced a pitch challenge exclusive to its drivers, so read on.
Lyft Pitch was born after the ridesharing company crunched its data and realized that 18 percent of Lyft’s 1.5 million drivers worldwide are giving rides to help power their own businesses.
Lyft Pitch is focused on drawing out some of the most compelling business ideas, and it’s starting in the DMV area.
Why launch this initiative with drivers in D.C., Maryland and Virginia? Former entrepreneur Kate Glantz, currently Lyft’s Mid-Atlantic marketing manager, played an instrumental role in conceiving the competition.
“This has really been inspired in large part from my own entrepreneurial experience and experience with pitch competitions in the tech space,” the founder of Heartful.ly told Technical.ly. “The inspiration is really to shine a light on these entrepreneurs who don’t typically have a stage to share their story with a room full of investors and industry experts.”
The company has partnered with local entrepreneurial organizations like Black Girl Ventures, General Assembly, Halcyon Incubator, Vinetta Project, SEED SPOT, the Washington, DC Economic Partnership (WDCEP) and more to put on the event.
Lyft is accepting applications until Oct. 21.
Eight finalists will be announced on Nov. 1 to train in a business bootcamp sponsored by Lyft, to prepare the entrepreneurs for the live challenge in front of a panel of judges. The final pitch competition will take place on Nov. 14 in D.C. at the Blind Whino SW Arts Center and is open to the public to attend.
During the competition, each finalist will have three minutes to pitch followed by three minutes of Q&A from the judges. The winner will receive $15,000 and the runner-up will receive $10,000. The audience favorite will receive $5,000 courtesy of Intuit. All competition applicants will receive a $25 credit from General Assembly and the finalists will receive a $100 credit. The winner will also be awarded with a free General Assembly part-time class.
Glantz said if the competition goes well, Lyft Pitch could be expanding to other states.
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