RevRoad Entrepreneur Competition Fall 2023 Winners Announced

RevRoad is proud to announce the winners of the Fall 2023 semi-annual Entrepreneur Competition, sponsored by Central Bank. 

As a beacon for emerging startups, both in high-growth and lifestyle sectors, the competition provides a platform for participants to showcase their innovations. With an impressive lineup of judges, this competition is an ideal  arena for entrepreneurs to forge connections, receive valuable feedback, and hone their pitching skills.

The Fall 2023 edition broke the standing record of applicants, bringing in over 200 startups nationwide. From this pool, the top 36 companies were invited to attend the in-person pitch competition on Oct 14, 2023 at the UVU Keller Business Building. 

Of those top companies, the following companies received awards with over $30,000 of value. 

$15,000 Central Bank Grand Prize winner – Gnara

RevRoad CEO Derrin Hill, Gnara Founder Georgia Grace Edwards, CB Vault Executive Director Jake McHargue

Gnara is on a mission to help everyone answer nature’s call (quite literally) via our patented GoFly zipper technology. We’re revolutionizing women’s clothing and adapting it for everyone’s needs—from hiking to serving on the front lines—through innovative and inclusive design that makes people feel safe, comfortable and confident to explore as they are, whether at work or at play. 

$5,000 Runner up – Team Nation Sports

Team Nation Sports CEO Whitney Clayton, RevRoad CEO Derrin Hill, Team Nation Sports Co-Founder Matt Clayton

Team Nation Sports builds software that turns sports learning into games on phones. The company believes that if you can learn how to learn football, you can learn how to learn anything. 

$2,500 3rd place – ILLA

RevRoad CEO Derrin Hill, ILLA Founder Tana Hoffman

ILLA is an AI-driven adventure platform for women+ who walk, run, ski, hike, bike, climb, paddle, surf, brap, and more!

$1,000 Fan Favorite – KAXI

Kaxi Founder and CEO Lexi Cuillard

Kaxi is a women’s hair accessory company that focuses on both style, function, and most importantly — hair health!

WTCUtah Trailblazer Award (Value) – Nani Swimwear

RevRoad CEO Derrin Hill, Nani Swimwear Fo-Founders Jana Barlow and Amy Rasmussen, WTCUtah COO David Carlebach

Nani embraces strength and confidence with active swimwear that not only looks good but feels good. Designed with adventurous women in mind, Nani is made for movement. Nani is the Hawaiian word for “beautiful”, and our mission is to create active swimwear that empowers women of all shapes and sizes to #livenani by seeking adventure, being kind, and striving to give back.

Kiln Membership Award (Value) & Thread Consumer Product Award (Cash) – Powder Baby LLC

RevRoad CEO Derrin Hill, Powder Baby LLC Founder Kylee Black, Kiln CEO and Co-Founder Arian Lewis
RevRoad CEO Derrin Hill, Powder Baby LLC Founder Kylee Black, Thread Wallets Co-Founder McKenzie Bauer

Powder Baby LLC provides dry shampoo that is made of 5 natural , vegan, ingredients. The products are packaged in a paper bottle that is completely biodegradable and healthy for the environment. It is the only dry shampoo on the market to come in 5 unique colors that match your hair shade and leave absolutely no residue. Because the dry shampoo is made with only powder and no aerosol, it is more effective in absorbing grease long term and keeping your hair healthy, smooth, and looking clean.

We Congratulate the winners and offer our heartfelt gratitude to everyone that participated in this pitch competition!

We couldn’t have done it without our incredible judges, sponsors Central Bank of Utah, Squire & Company, PC and RevRoad Capital, and all the competitors, team members, and community who came together.

For information about future RevRoad Entrepreneur Competitions, please visit ecomp.revroad.com.

Pitch Deck Template – Get Ready to Pitch Investors or Compete in a Pitch Competition

Mobly pitching at RevRoad's entrepreneur compeition

What are pitch decks?

A pitch deck is a concise presentation (usually made in Google Slides or PowerPoint) that provides an overview of a business, typically delivered to potential investors, partners, or stakeholders. It serves as a visual aid to communicate key aspects of a startup’s vision, mission, product or service, market opportunity, financial projections, and team. Pitch decks are crucial tools for entrepreneurs seeking funding, as they distill complex information into a compelling and digestible format. Below, we’ll share a pitch deck template to help you get started. 

In a competition setting, where time is limited, a well-structured pitch deck ensures clarity and leaves a lasting impact on judges. Judges often rely on pitch decks to evaluate the viability and potential of a business. Pitch decks serve as a storytelling tool, allowing entrepreneurs to concisely convey their business narrative, influencing judges to positively sway their decision in favor of cash prizes. 

What Should I Focus On During a 5-Minute Pitch In a Competition?

pitch deck template for pitch competition

In a five minute pitch, it’s important to eliminate fluff and cut to the chase. Each judge may be looking for something different, so it’s hard to make a blatant statement as to what your primary focus should be. In general, judges will evaluate a company based on the following criteria: 

  • Problem
  • Solution
  • Market size
  • Validation and traction
  • Go-to-market plan
  • Investability 

How to Create an Impactful Pitch Deck 

Entrepreneurs gearing up for the upcoming RevRoad pitch competition need a focused and concise pitch deck to stand out to the judges. When you only have five minutes to share your pitch, it is critical to focus on the what matters most. Here’s a pitch deck template to guide you when creating a 10-12 slide deck that showcases the business you are building:

  1. Cover Slide:
    • Keep it simple with your logo and a tagline. 
  2. Introduction:
    • Start with your company’s vision or mission to set the stage with your “why.”
  3. Problem:
    • Clearly outline the problem you’re solving, emphasizing its significance in the market you’re addressing.
  4. Solution:
    • Showcase your innovative solution to the problem succinctly, avoiding unnecessary details. This may be more than one slide if you have a few products you want to show.
    • Don’t get too fixated on product features. Investors are going to care more about your traction (see below) than your solution. Anyone can build a product. The big question is whether or not that product actually has paying customers.
  5. Market:
    • Define the market size and your target customers. Consider using a TAM, SAM, SOM approach for a comprehensive view.
  6. What Makes You Different:
    • Show investors what sets you apart from competitors in the market. What enables you to break through the noise? Communicate your unique selling proposition, be it product features or brand differentiators.
  7. Traction:
    • This is arguably the most important section of your pitch. Dedicate a few slides to showcase your revenue, partnerships, and business model. Investors will want to know exactly how your business makes money, the current financial standing, and the growth potential.
  8. Projections or Big Picture:
    • If time permits, this is where you will dive deeper into the growth potential, presenting 3-5 year financial projections.
  9. Team:
    • Introduce your team, emphasizing their expertise and backgrounds. Investors invest in people as much as ideas.
  10. Conclusion:
    • End with a gracious thank you and provide clear contact information.

BONUS: If you are currently raising capital (outside of the competition), add a slide detailing how much money you’re seeking and what you need the money for. This slide would come after the “team” slide. 

How to Present a Pitch

Crafting an effective pitch deck (using the template above) will make your presentation stronger, but only if you know the information well. Avoid reading the slides—you should know the content inside and out. Remember, less text, more impact.

Before pitching investors or competing at a pitch competition, you should practice your pitch multiples times to ensure it fits within the allotted time frame. You should also anticipate questions from the judging panel (or investors) and practice your responses to those questions. Practice leads to confidence, and confidence leads to positive impressions!

With a well-rehearsed presentation and a pitch deck that focuses on the most important aspects of your business, you’re sure to do well at your next pitch presentation!

Apply to pitch your company in the next RevRoad Entrepreneur Competition, or apply to be part of the RevRoad portfolio

RevRoad Raises Over $15 Million From Private Investors as Demand for Venture Services Surges

Derrin Hill and Tony Allen of RevRoad

FOR IMMEDIATE RELEASE

Provo, Utah – June 29, 2023 – RevRoad, a venture services firm based in Utah, today announced over $15 million in funding from private investors. RevRoad has already serviced 73 portfolio companies and helped raise their valuations to a combined enterprise value of more than $1.5 billion. In light of this growth, RevRoad appointed Tony Allen as president of its new Orlando office to work with entrepreneurs and startups in the Florida area. Tony has worked for Zoom, Disney, and many other enterprises to produce large scale events worldwide and has extensive experience scaling business operations and professional services.

The entrepreneurial landscape is currently facing unprecedented challenges in raising venture capital, with global funds down 53% from Q1 of 2022, according to CrunchBase. Startups are struggling to find venture capital firms eager to assist them in their growth. RevRoad gives entrepreneurs a different option, a new model they call “venture services,” working alongside growth-stage companies in twelve areas—including marketing, software development, strategy, and legal. By partnering with RevRoad, portfolio companies are able to raise their valuation and accelerate their path to profitability.

“At the time we applied to RevRoad, raising additional capital would have been extremely difficult and time-consuming,” said AJ Brau, founder of portfolio company Wander. “RevRoad’s services model was a great alternative to capital at that stage of our business—the idea of having services on demand for two years was a game changer. We worked directly alongside RevRoad’s service teams, to focus our attention on growing the business, time we would have otherwise had to spend fundraising. Instead, our common shareholders were teams of dedicated specialists who were committed to understanding every aspect of our company. As a result, we’ve gotten more value from our partnership with RevRoad than we would have if we had simply raised cash.”

A key factor contributing to RevRoad’s success lies in the strategic pairing of portfolio companies with experienced professionals from various business disciplines. This ensures that entrepreneurs receive valuable mentorship from individuals who have experienced the challenges of growing startups. As a result, more than 80% of the companies that have worked with RevRoad remain in business, many of which are thriving today.

“I see companies in Florida who have potential to make a massive impact but are struggling to find the available capital they need to grow,” said Tony Allen, President of RevRoad’s Florida Office. “The problem is that traditional venture capital firms look for specific signals that reduce their investment risk, often leaving promising startups unsupported. At RevRoad, we bridge that gap by working closely with startups and leveraging our extensive resources to help mitigate risks. Our focus is on driving revenue growth, increasing valuations, and providing a solid foundation for startups to approach venture capitalists with confidence.”

The current funding round will further RevRoad’s core mission of supporting entrepreneurs and assisting them in reaching critical milestones, while focusing on expanding services to the East Coast.

For more information, please visit revroad.com.

For media inquiries, please contact Brittany Ouimette, brittany.ouimette@revroad.com, 801-717-7027.

About RevRoad

RevRoad is a venture services firm that focuses on helping entrepreneurs succeed. The company empowers portfolio companies to get to market faster, maximize profitability, and create a solid foundation for their venture. RevRoad’s experts work shoulder-to-shoulder with these founders in 12 service areas for up to 24 months. RevRoad further supports startups through its sister company, RevRoad Capital, a traditional venture capital firm that provides funding to companies inside and outside the RevRoad portfolio. Visit revroad.com to learn more and apply for the venture services program.