According to wikipedia,

"An elevator pitch (or elevator speech or elevator statement) is a short summary used to quickly and simply define a product, service, or organization and its value proposition.[1] The name "elevator pitch" reflects the idea that it should be possible to deliver the summary in the time span of an elevator ride, or approximately thirty seconds to two minutes.[2][3] In The Perfect Elevator Speech, Aileen Pincus states that an elevator speech should "sum up unique aspects of your service or product in a way that excites others."

A variety of people, including project managers, salespeople, evangelists, and policy-makers commonly rehearse and use elevator pitches to get their point across quickly. An elevator pitch may be presented in oral, written, and video formats.

An elevator pitch is often used by an entrepreneur pitching an idea to a venture capitalist or angel investor to receive funding. Venture capitalists often judge the quality of an idea by the quality of its elevator pitch and will ask entrepreneurs for their elevator pitches in order to quickly weed out bad ideas and weak teams. Elevator pitches are also used in many other situations. Personal uses include job interviewing, dating, and summarizing professional services.[4]"

For this assignment start by viewing an Elevator Pitch Winner.

Now look at: Creatiing your own Elevator Pitch and Elevator Pitch: nPower Peg

If you youtube "elevator pitch", you'll find quite a few examples and tips. The first one is someone from a show called Dragon's Den, with someone giving a minute and 50 second pitch. Unfortunately the Dragon Den site blocks its content on the internet, but if you youtube "dragons den", you find a lot of examples of pitching.

You can also try your luck with Shark Tank.

In this assignment you are to prepare an elevator pitch of no longer than 60 seconds to present in class next week. Your pitch should be aimed at raising capital for a new business idea.