BMW is speeding up the classic elevator pitch, taking entrepreneurs on a ride in the very fast M550i Sedan as they pitch their ideas on a closed race track.
‘BMW Hot Lap Pitch’ invited nine up-and-coming entrepreneurs to pitch their business ideas to an established venture capitalist in the BMW M550i while rounding a racetrack at approximately 100mph. The result is perhaps the fastest pitch ever.
The Hot Lap Pitch is a collaboration between the auto maker and agency KBS. The spots are meant to show BMW’s intrinsic brand of innovation: instead of describing the features of its all-new 5 Series, and how those features are suited to entrepreneurs and tech enthusiasts, BMW invited the most ambitious of this crowd into the car to not only experience its power, agility, and speed first-hand, but to do so while being given the opportunity of a lifetime.
The final contestants were diverse in terms of geography, gender, race, personality and business ideas. Contestants pitched ideas to venture capitalist Pat Gallagher, who is the co-founder and general partner at CrunchFund, and a well-respected investor. They all had their own video pitches, with some faring better (as pitchers and as passengers) than others.
The car used, the M550i, is said to be the fastest 5 Series ever and not yet available to the public, which demonstrates that startup world moves fast and business can be done anywhere.