Undergrads present business plans at OEDK Elevator Pitch Competition
Team SharpTank won first place and the Most Investable award at the sixth annual OEDK Elevator Pitch Competition. The team of five seniors presented on their more practical and low-cost needle disposal system to prevent syringe reuse in the developing world.
The Oshman Engineering Design Kitchen held the sixth annual Elevator Pitch Competition on Nov. 6, where Rice undergraduate teams and individuals presented 90-second pitches for their business concepts and ideas.
According to Maria Oden, professor in the Practice of Engineering Education and director of OEDK, the scale of this competition surpassed the previous years’ by both number of contesting teams and number of judges.
The pitches varied greatly in content, covering a spectrum ranging from medical equipment, transportational device for natural disaster relief, golf training software and short term bike rental system to mobile apps, according to the team summaries sheet.
Team SharpTank, a senior design team working on one-time-use syringes to prevent syringe reuse in the developing world, captured both the Most Investable award and the first place honor. Team Presenter Sergio Gonzalez said winning the competition was a pleasant surprise.
“There were no real expectations,” Gonzalez, a Duncan College senior, said. “The team and I wanted to do our best to present our project in an interesting and compelling way. It felt great to win, though; the top presentations were all fantastic, and I think everyone enjoyed giving their pitch.”
Judge and co-founder of Cormedics Corp Houston James Meador (Baker ’75) said the presentations were of high quality.
“They will learn the financial sides and shareholder returns, but the Rice students are better than some professionals, including some in California, New York and Boston, that I have watched and presented in for many years,” Meador said.
This year, unlike previous years, a reception and judges feedback session followed the competition. Gonzalez said it was a welcome change.
“The networking event is new, but I think it was a good addition,” Gonzalez said. “It’s important to have practice giving a formal presentation, but it’s also important to talk with people in a more personal environment.”
Fay Pauly, a presenter for Team BOP-it, said the competition was a good learning experience even though they did not win. Pauly said the team aimed to develop a new annular blowout preventor.
“I thought it was a great opportunity to practice my speaking skills, especially in front of such a large audience,” Pauly, a Lovett College senior, said. “[Also,] I was very impressed by the other pitches and really enjoyed all of the witty puns.”
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