First Bank launches 90-second elevator pitch contest

FirstBank, Colorado’s largest locally-owned bank and second largest bank by deposits in the state, announced a new competition for businesses in Colorado.

The competition, called the “FirstBank $20,000 Elevator Pitch Business Contest” will kick off on Monday, October 12 and, only a few weeks later, award one winner with $20,000, courtesy of the bank.

Contest participants will be asked to submit a 90-second, “elevator pitch” style video explaining how the money will help them accelerate their business and reach their goals.

“Small- and medium-sized businesses are the engine that drives Colorado’s economy, and as a community bank, we recognize that our success is dependent on the overall health of the local markets we serve,” said, John Ikard, President and CEO of FirstBank Holding Company. “We are launching the FirstBank $20,000 Elevator Pitch Business Contest to not only highlight our support of local businesses, but also to help showcase some of Colorado’s most innovative and entrepreneurial companies.”

A panel of outside business experts, including Jack Tankersly, managing director of Meritage Funds; Tom Clark, CEO of the Metro Denver Economic Development Corporation; Tami Door, CEO of the Downtown Denver Partnership; and Dana Coffield, business editor for the Denver Post, will review the entries and select a pool of semi-finalists. Final voting will occur in real-time via social media, with a winner selected on November 20.

Challenge entries will be judged based on the following criteria:

1. Content (50%)
2. Creativity (30%)
3. Originality (20%)

FirstBank has a long history of supporting local businesses with innovative contests, promotions and marketing campaigns, in addition to offering a wide-range of competitive business-banking products and services. Additionally, FirstBank is a major supporter of nonprofits in areas where its employees live and work. The bank contributed nearly $5 million to charities in Colorado, Arizona and California last year.

In addition to Colorado, FirstBank is launching its Elevator Pitch Business Contest in Arizona. One Arizona business will also win $20,000. The bank opened its first location in Arizona in 2007, and now has 17 branches located in the greater Phoenix area.

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