On this women-focused episode of "Entrepreneur Elevator Pitch," contestants compete to earn life-changing money from elite investors.
Across the globe, a new wave of leadership is emerging — 49% percent of startups are founded by bold and resilient women driven to make a significant impact on the world. On this episode of Entrepreneur Elevator Pitch, our board of investors hears pitches from women founders representing three innovative companies in industries ranging from apparel to health to tech.
"I started my VC career by investing in women entrepreneurs," notes investor Pocket Sun, founder of SoGal Ventures. "I am so excited to see who is going to share their brilliance with us."
Like all episodes, contestants have just 60 seconds to pitch their business. See what happens as they take their shot at earning life-changing money on an all-new Entrepreneur Elevator Pitch!
Across the globe, a new wave of leadership is emerging — 49% percent of startups are founded by bold and resilient women driven to make a significant impact on the world. On this episode of Entrepreneur Elevator Pitch, our board of investors hears pitches from women founders representing three innovative companies in industries ranging from apparel to health to tech.
"I started my VC career by investing in women entrepreneurs," notes investor Pocket Sun, founder of SoGal Ventures. "I am so excited to see who is going to share their brilliance with us."
Like all episodes, contestants have just 60 seconds to pitch their business. See what happens as they take their shot at earning life-changing money on an all-new Entrepreneur Elevator Pitch!
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NewsTranscript
00:01Going up.
00:03Across the globe, a new wave of leadership is emerging.
00:08I wanted to be an entrepreneur since I was a little girl.
00:11Bold, resilient, and unapologetically driven.
00:15Our job is to make money.
00:17Today, we're celebrating the power, resilience, and ingenuity of women in business.
00:23It's time for these entrepreneurs to rise.
00:27I like founders that have a vision.
00:30To lift each other.
00:31That's a great offer.
00:32And to redefine success.
00:34Amazing.
00:35In only 60 seconds.
00:37She did a good pitch.
00:39This is Entrepreneur Elevate Her Pitch.
00:44Presented by Amazon Business.
00:47And show her the money.
00:50Today, in the boardroom.
00:53Kim Perel, CEO of 100.co.
00:57Pocket Sun, co-founder of SoGal Ventures.
01:01Rogers Healy, serial entrepreneur.
01:04Guys, I'm so excited about today's entrepreneurs.
01:07They are all females.
01:09Statistically, did you know that 49% of startups right now are being founded by women?
01:14We need more.
01:15We need 94%.
01:16I'm a girl daddy.
01:17I got two little girls at home and I cannot wait for them to start their first business.
01:20I started my VC career by investing in women entrepreneurs.
01:23So, I'm so excited to see who's going to come up today and share their brilliance with us.
01:27I love that.
01:28Well, you guys want to see the first pitch?
01:29Let's do it.
01:30Yes.
01:36First up, two entrepreneurs with a bold clothing line designed to break boundaries and fit everyone, regardless of gender.
01:45Hi, I'm Vicky.
01:46And I'm Charisse.
01:47And we're the co-founders of Dapper Boy.
01:49We have people from all walks of life telling us how much we've changed their lives.
01:53A mom reached out to us with a 14-year-old child that was suicidal.
01:56And then she saw a Dapper Boy video ad and started smiling again.
02:00That's the impact of our brand.
02:07Going up.
02:09Hello, Vicky and Charisse.
02:11Welcome to the elevator.
02:13Your pitch begins in three, two, one.
02:19Hi, I'm Vicky.
02:20And I'm Charisse.
02:21And we are co-founders and wives of Dapper Boy.
02:23So, Dapper Boy is an all-gender, size-inclusive apparel line with a mission to inspire folks to feel their most confident selves in their authentic selves through our clothing.
02:32So, I'd like for you to picture the mainstream shopping experience.
02:35You walk into a department store and you literally have two options.
02:38The men's section or the women's section, which are embedded with societal rules and norms based on your gender.
02:43Frankly, it's archaic, especially considering over 50% of Gen Z shops outside of their gender.
02:47We have customers of all different shapes and sizes, from feminine presenting to NFL football players seeking features like deep pockets and hidden snaps to hide the dreaded chest gap.
02:57We've been in business since 2015, and in the last four years alone, we've generated over $4 million in sales.
03:03We have a 51% repeat customer rate and over 40,000 customers.
03:10We believe with every part of our being that we are the next Levi's of all gender fashion, and we are seeking $250,000 for 3% equity in our company.
03:20I was worried they weren't going to get the ask in.
03:22God, I wish I didn't hear what they were asking for.
03:243%? $250,000? That's a big ask.
03:26That's kind of unusual, right?
03:28They've been around almost a decade, and they have great sales.
03:32And the repeat rate is over 50%, which is great.
03:35That is high for apparel.
03:37Pocket, what do you think?
03:38I actually don't love the apparel category.
03:41I've invested in the category and got burnt before.
03:44This is the first time I've seen somebody, you know, present something for men and women.
03:48And I think that is the Gen Z trend.
03:51They are looking for that non-binary type clothing.
03:54So let's get to a vote.
03:55All right.
03:56Let's do it.
03:57Attention, Vicky and Charisse.
04:07Your pitch has been approved.
04:15Yes!
04:20Hi, everybody.
04:22Hello. Welcome, Vicky and Charisse.
04:25So tell us, how do you plan to become the Levi's for all-gender clothing?
04:29Yeah, I think it's our personal touch.
04:31You know, with over 50% of Gen Z, like I said, shopping outside of their gender,
04:35it just doesn't exist right now, what we're doing.
04:38And I think for us, it's always important to remain personal.
04:41And, you know, I feel like we add this element of character and likeability to our brand.
04:47But tell us a little bit more about your story.
04:49She told me about this idea for a dapper boy on our honeymoon.
04:52Yeah.
04:55I was 100% all in.
04:57Yeah, I mean, before dapper boy, when I had long hair and, you know,
05:00pretended to be this person I wasn't, I shopped in the women's department.
05:03It's when I came out, I cut my hair, I had the guts to shop in the men's department,
05:08which was a very scary experience.
05:10But it was those first, you know, men's jeans that I tried on that was everything.
05:14Let us feel it.
05:15Oh, yeah, for sure.
05:17I've always wanted to have a stage name.
05:19I think dapper boy would probably be fitting.
05:23So these actually are skinny jeans that we just released here.
05:26And they even have, like, this is a coin pocket that can actually fit a large smartphone.
05:29Feels really nice. Very comfortable.
05:31These are super stretchy as well.
05:33What's your best seller?
05:34Jeans, by far.
05:35And it's our best margins as well.
05:37So y'all have proven that there's a market for this
05:39based off of the historic sales of $4 million in the last four years, you said?
05:43Yeah, lifetime we've done about 5.4.
05:45And how much revenue will you do this year?
05:47About 1.4.
05:48And how much revenue are you projecting next year?
05:50Three million.
05:51Three million.
05:52That's very impressive.
05:53Yes.
05:54And how much capital have you raised?
05:561.5.
05:57And we're trying to close out this $2 million round right now.
06:01What's your cash position at the moment?
06:03We have about $100,000 in the bank right now.
06:06You're raising $250,000.
06:08Yeah.
06:09How far does that get you?
06:10Because you only have $100,000 in the bank.
06:12We're looking for $250,000, you know, every quarter pretty much.
06:16Vicky and Charisse, I don't love the apparel category
06:21and I haven't heard enough to change my mind on that.
06:25Unfortunately, I have to pass.
06:29Okay, thank you.
06:30Apparel's tough.
06:32My fear is you said you could be the Levi's for all inclusivity?
06:36Yes.
06:37Why doesn't Levi's just go do this?
06:40It sounds like you need a team that can actually give you all high-level advice
06:43based off kind of what not to do.
06:46But I would need a deal
06:48because we all know that time is worth way more than money.
06:52I'm curious what you're thinking.
06:54I'd give you $50,000 for 10%.
07:04We got to stick to our guns with that one.
07:07Kim, what's your reaction to Roger's offer?
07:10It's insulting.
07:11It's a risky deal.
07:12It's going to take a lot of time.
07:14I'll be buying some clothes from you.
07:16How about a customer?
07:17Perfect.
07:19I like founders that have a vision.
07:22It's been almost a decade and you guys continue to persevere.
07:27To me, that's a sign of a really great entrepreneur.
07:30I think you are a good bet.
07:33Although at this point, I'd like to see you raise more capital.
07:39It makes me nervous giving anyone money
07:41that then is going to spend it and come back to me in three months
07:44and say they need more money.
07:45It would keep me up at night.
07:46So, if you guys can raise a million,
07:48I would come in at the $250,000.
07:51Okay.
07:52Amazing. Thank you.
07:53That's a great offer.
07:54It is. I'm stoked about it, too.
07:56Amazing.
07:57Thank you so much.
07:59Yes, you.
08:00It's great meeting you.
08:01Thank you, too.
08:02Thank you so much.
08:03I'm feeling good.
08:04I thought that was great.
08:05Totally.
08:06I know we didn't get a deal, but that's okay
08:08because I feel like they actually got it.
08:10And I think that we have a goal now to shoot for a million
08:13and then we're going to get Kim.
08:14I know we're going to get her.
08:15Yeah.
08:19Do you know what it takes to start a business?
08:22Check out Entrepreneur's Newest Book
08:24for insights on how to create, grow, and scale.
08:29Which of the following
08:30is usually the first step in the entrepreneurial process?
08:34A. Developing a marketing strategy.
08:37B. Market research.
08:40Or C. Securing funding.
08:43The correct answer?
08:45B. Conducting market research.
08:52Entrepreneur Elevator Pitch is presented by Amazon Business
08:56for every organization at every stage of growth.
09:05Next up, an entrepreneur looking to soothe the world
09:09with their natural therapeutic remedies.
09:16Hello, Carly.
09:17Welcome to The Elevator.
09:20Going up.
09:22Your pitch begins in 3, 2, 1.
09:28Over half of Americans are sensitive and they don't even know it.
09:31And it's costing us over $80 billion per year in health care.
09:34And it's not just skin deep.
09:36It is sensitive skin, sensitivities, and a sensitive system
09:39in addition to overall emotional wellness.
09:42As a super sensitive, eczema warrior, autoimmune conqueror, and chemical engineer,
09:46I know what it feels like to experience skin woes, hair woes,
09:50and to look like I'm six months pregnant
09:52while traveling the world as a scientist and innovation lead.
09:55My dream job.
09:56But I figured it out.
09:58Hence the creation of Pollination Apothecary Sensitive Focus Plant-Based Skin Care.
10:02With traction in 121 retail doors,
10:06Moegman's Mom's Organic Market, and Earth Fare,
10:10$300,000 investment gained 10% equity
10:13and be a part of helping the sensitive bloom into wellness
10:16so they can look and feel their best.
10:18Thank you so much for this opportunity.
10:20I'm super excited.
10:29What happened?
10:30I think that she left out a lot of important information
10:34that she had time to tell us.
10:36Yeah, we don't know revenue.
10:38We don't know why she got her $3 million valuation.
10:41It's always so frustrating because you know you have 60 seconds to make the pitch
10:44and you must, as an entrepreneur, maximize that time.
10:48The pitch did feel a bit short.
10:50I think she had more potential to bring out more of the exciting details about the business.
10:54All right, are you guys ready to vote?
10:56Let's vote.
10:58♪
11:03Attention, Carly.
11:07Your pitch has been
11:13denied.
11:15I'm disappointed, but I'm grateful for the experience, for sure.
11:20This is my biggest pitch opportunity thus far,
11:23and so I think there's still much to learn.
11:29This episode of Elevate Her Pitch is proudly sponsored by Show Her The Money.
11:35The award-winning film tackles the subject of women getting only 2% of venture capital funding
11:42and how we can change that inequity.
11:45See the film by visiting showherthemoneymovie.com.
11:50♪
11:56Our next entrepreneur is revolutionizing purchasing for businesses
12:00with their AI-powered marketplace.
12:06Hello, Harmony.
12:08Welcome to the elevator.
12:11Going up.
12:13Your pitch begins in 3, 2, 1.
12:18Hi, I'm Harmony, founder and CEO of Lucy,
12:21the AI-powered marketplace creating smart B2B buyers in complex industries
12:26like legal, lending, tax, and HR.
12:28I'm an attorney, a veteran, and I come from a family of entrepreneurs,
12:32so I understand the heart of America, small businesses.
12:35They aren't sure what help they need.
12:37They avoid hiring complex industry professionals like lawyers.
12:41They randomly research, ask their friends for advice.
12:45They throw away $160 billion each year on litigation, making mistakes.
12:50It can easily shut down a small business.
12:52With Lucy, businesses can spot issues, learn to solve them, and hire professionals.
12:573,800 users are waiting for us to accept payments.
13:01The $300 billion fintech market is growing,
13:04and Lucy has a strategic, vetted plan in place to secure 1% market share in 7 years.
13:11We are currently seeking a good fit lead investor.
13:13We're raising a $2.5 million round and a $5 million valuation.
13:19She did a good pitch.
13:20Yeah, it was a good pitch. Good story.
13:22I was a little bit confused, but so they have 3,800 users that are ready to use the platform?
13:26Waiting, but what are they waiting for?
13:28She's doing legal, lending, and tax. That's a lot to tackle for a startup.
13:33And she's asking for $2.5 million at a $5 million pre or post?
13:37She didn't say.
13:38But, you know, I think so many small businesses have these challenges,
13:42and I know because I see it firsthand, legal specifically.
13:45So I'm curious to learn more.
13:47Why don't we take it to a vote?
13:48Let's do it.
13:49Sounds good.
13:56Attention, Harmony.
14:00Your pitch has been
14:08approved.
14:11Yeah.
14:13All right.
14:14Harmony, welcome to the boardroom.
14:17Thank you so much.
14:18It is so nice to meet you all.
14:20Nice to meet you, too.
14:21We all gave you a resounding yes and excited to hear a little bit more about your story.
14:24Yeah.
14:25So, Lucy, the problem that we're solving, it is a huge problem.
14:29It's much overlooked in society where these business owners, they don't really trust lawyers.
14:35Right.
14:36And they think that they can just do it on their own.
14:38But where are you in bringing this product and this vision to life?
14:41Is the platform built?
14:42Yeah.
14:43So we do have, we did a minimal launch.
14:45It's called Legal Lucy.
14:46We have highly scalable industry agnostic technology.
14:51We have filed a couple of provisional patents.
14:53You know, it's not just the AI marketplace.
14:55There's a couple of things that are really unique about it, which is quite important in this AI environment.
15:00Right.
15:01But are you technical?
15:03I was trained as a lawyer in Silicon Valley.
15:05So I received a high tech certificate.
15:08But you're talking a lot about AI.
15:10So my question is, I love to see founders that are building technology companies have a technical expertise.
15:16Do you have that or do you have a founder that has that?
15:19Absolutely.
15:20So not only is my background in Silicon Valley as a tech finance attorney, but we have the most incredible CTO.
15:27She has like 30 years of experience managing tech teams and she is the Silicon Valley guru.
15:36How are you going to get the first group of users on board?
15:39Our go-to-market strategy, SEO, thought leadership at like business organization events, for example.
15:45But where are you right now?
15:47Are you actually live with a product and can someone come on and get legal advice?
15:52It is amazing what we have.
15:54You know what, I compare it to Canva and what their vision was, was to create lots of really good value up front so that the users have so much value.
16:04It's very sticky.
16:05But are there users on the platform?
16:07Yes. Legal Lucy, what we have built, our industry agnostic technology, it's web responsive right now and you can use it on your phone.
16:14Users can sign up for free.
16:16How many users are on the platform?
16:18We've had over 3,800 users that are waiting for us to accept payments.
16:24You're asking for a lot of money, so how are you going to use the funds?
16:26First and foremost, we want to be able to take the paid transactions, right?
16:31So we need to have a very smooth process right there.
16:34The $2.5 million gets you how much runway?
16:37That's for 18 months and we will be ready.
16:39So that will help us to get to do our Series A and we can then take Legal Lucy to market.
16:45Will you have revenue in 18 months?
16:46Absolutely.
16:47How much revenue?
16:48$6.3 million.
16:50Under what assumptions are you getting to $6.3 million in 18 months?
16:54The 18 months is like 60 million people have visited the platform.
17:01And then I think it's like 2 million have signed up for free.
17:05And then I think it's around like 300,000 transactions that get us to that number.
17:13I honestly, I love you.
17:14I think your energy is incredible.
17:17I can see your vision and I think there's a need.
17:21But I'm having a hard time just understanding from a capital perspective, investing $2.5 million.
17:29I personally would feel so much more comfortable investing a smaller amount with shorter milestones
17:34to really see revenue in market that we've had product market fit.
17:39So unfortunately, I'm going to pass.
17:42Okay.
17:43I think $6.3 million for a SaaS product in its first few years, that's a very ambitious goal.
17:51And from what I've seen in the past, I don't think 18 months and $2.5 million is going to get you there.
17:59So I love the vision, but I can't visualize the path getting to the milestones you are setting out to get to.
18:05So for that reason, I have to pass on this one.
18:10I think they have great feedback.
18:11And again, your passion is contagious, obviously.
18:13And you have an incredible background of veteran, you're an attorney, you're lethal.
18:19This is just not something that I normally would specialize in.
18:22And so excited for you and your path, but I'm going to also respectfully pass on getting involved.
18:28Thank you so much.
18:29It was so nice to meet you, Rogers, Kim and Pocket.
18:32Nice to meet you.
18:33Thank you for having me.
18:34All the best to you.
18:37The experience was exhilarating.
18:39After you did your pitch, you're waiting and waiting and time is going on.
18:42So you're not sure what the outcome will be.
18:44And then it was a very exciting outcome.
18:46And I got to go in and speak with the investors.
18:48I loved it.
18:52Going up next time on Entrepreneur Elevator Pitch.
18:56I thought it was a good save.
18:57I'm not sold.
18:58Opportunities are always around the corner.