Author’s Disclosure: I participated in the Fall 2023 Raptor Tank Competition as a finalist.
Montgomery College recently concluded its Raptor Tank Business Pitch Competition, marking its ninth successful year. The competition spanned from late September to early November.
The event combined the flexibility of online workshops with the practical learning experiences of in-person sessions. Over the course of the competition, three hands-on workshops were conducted from September 27 to October 11 from 4 PM to 5 PM at the Macklin Business Institute (MBI) Finance Lab located in Macklin Tower. The program fosters an entrepreneurial mindset and opens a multitude of opportunities for the college’s diverse student body.
The student-run Macklin Business Institute (MBI) Cafe supported Raptor Tank with its proceeds. This initiative serves as a dynamic platform encouraging student collaboration and fruitful engagement with experienced industry professionals.
“MBI plays a crucial role in the Raptor Tank event’s organization, collaborating closely with faculty and local entrepreneurs to provide support for student participants. The MBI Cafe’s financial support significantly contributes to the success of the participants and the achievement of their future business goals,” explained Raptor Tank’s coordinator and MBI member Lucia Hricovska.
The event allowed participants to pitch their entrepreneurial ideas to college faculty and connect with accomplished business figures in Montgomery County during in-person workshops. Beyond prizes and gift hampers, the event offered interactions with seasoned entrepreneurs like Shy Pahlevani, who is known for attracting investments from notable figures such as rap musician Jay-Z.
During specialized sessions featuring guest speakers, participants gained invaluable insights from seasoned business professionals. This unique opportunity provided a real-world perspective on business acumen through introducing concepts often not covered in traditional classroom settings.
The competition held its preliminary round on October 18th. At the event, the students presented a variety of business ideas, including small home-based endeavors, emerging startups, and plans for community-oriented sports academies. Each Raptor Tank cohort member had five minutes to convey their idea.
A panel of Rockville Campus business faculty judged the top five pitches, including Professors Ali Alavi, Brian Baick, Dorelle Engel, John Coliton, and Dr. Hoa Nguyen. The criteria included pitch strength, marketing strategies, financial viability, and anticipated community impact.
“Having time constraints requires the contestants to think about the core parts of their business idea that are most important to share with the audience, which leads to a more concise pitch,” stated Stephen Lang, MBI director and Raptor Tank organizer.
During the final round on November 1st at 3 PM, a new panel of judges narrowed the field to five finalists vying for the $3,000 prize pool. Each contender, following the initial round’s model, delivered a five-minute pitch, followed by five minutes for questions from the judges.
The finale’s judges included notable Montgomery County business figures: Bill Foote, Bill Keating, Connie McGuire, David Popp, Polly Vail, Shy Pahlevani, and Staffan Sandberg. Known for their significant contributions and success in the business world, these professionals offered more deep and practical critiques and advice. Their collective expertise and real-world experience provided valuable insights that enriched the competition.
Driven by energizing pressure and collaboration with respected figures, participants prepared for the ultimate round. In this phase, judges refined pitches to increase the chances of securing the top prize.
Ultimately, the panel selected two victors from the competitive cohort: Benjamin Viana of Grape Club Clothing and Juan Alcivar of Bears Volleyball Club. Each recipient claimed a $1,000 prize and gained invaluable insights from Montgomery County’s business mentors, aiding their business growth.
When reflecting on the event, co-winner Juan Alcivar expressed, “The entire experience was wonderful. While receiving financial support for my business was beneficial, the event offered invaluable knowledge to refine and expand my business. It was crucial in fine-tuning my ideas and discovering ways to further enhance my business.'”
All in all, students triumphed through Raptor Tank. Like past editions, this year’s event showcased several promising pitches brimming with substantial potential. This platform highlights the intellectual and inventive prowess of Montgomery College.
