Two minutes. That’s how long it takes for an elevator to travel from the lobby to the executive level, where important, money making decisions are made.

And two minutes is how long local high school and college students will have to convince a panel of investors that their business idea is good enough to invest in.

Nearly 20 students gathered in the Bob Williams building at the UBATC campus to hear the details and entry rules of the fourth annual competition. This will be the first year the Vernal campus has hosted their own competition.

“The youth are where it’s at,” says Economic Development Director Tammy Lucero. “They haven’t been told ‘you can’t do that.’”

The Elevator Pitch competition, which is presented in conjunction with Entrepreneur Week, offers $15,000 in prizes, and local winners will be invited to Logan to compete against other students.

Rules: Any student or team of students can enter their business ideas to get a chance to make a two minute pitch to a panel of professional investors. You don’t have to have an established business to enter into the competition, just a well thought out idea for a new business.

Teams entering the competition must submit 2-3 page executive summaries by midnight on March 20. Teams and individuals will make two minute elevator pitches to a panel of local judges at USU-UBATC Williams building in Vernal at 6 p.m. March 25. Top elevator pitches will be presented to a panel of professional judges April 9. For more information call 435-823-2294 or 435-828-2619.