Program Overview

The Bank of Guam Elevate-HER Pitch program is a collaboration between the Guam Women’s Chamber of Commerce and Bank of Guam. Three (3) female entrepreneurs will be selected to deliver their business elevator pitch LIVE in front of 300+ Fanachu Famalåo’an conference attendees on Thursday, September 19, 2024, where winners will also be announced.  This program seeks to empower entrepreneurs by providing the tools, confidence, and platform to articulate their professional goals and value propositions concisely and effectively. Through a combination of workshops, coaching, and a pitch competition, participants will refine their elevator pitches, enhancing their ability to network and advance their careers. This program is a cornerstone of the Bank’s commitment to developing the small business community and providing resources for growth. 

Eligibility Criteria

This opportunity is open to women who are current or aspiring small business owners, for businesses at any stage, and any industry. 

• Applicants must be 18 years old or older 
• Applicants must be residents of Guam 
• Can be a startup or an existing business. For existing business, annual revenues must not exceed $100,000. 
• Must be a majority women-owned and women-run business 

Finalists Selection

Bank of Guam will initially screen all received applications to ensure eligibility requirements are met and to select finalists based on provided answers. 

Judging Criteria

Clarity and Persuasiveness: Was the speaker articulate, enthusiastic, and convincing? Was the pitch well‐organized and clearly presented?  Did it grab your attention and make you want to hear more?

Market Opportunity: Does the idea address a real problem or need in the marketplace?  Who are the customers and why do they need this product/service?  Is the proposed solution better, faster, or cheaper than the competition or are there other viable alternatives?

Business Model: How will this business make money?  Does the entrepreneur understand their costs, pricing, and profit margins?  How much money do they need to bring this product to market?  Is there a plan for scaling the business overtime?

Management Team: What type of expertise is needed to make the business successful?  Does the entrepreneur possess these qualifications?  If not, how do they plan to get these skills onto the team?

Potential for Growth and Impact: Does this opportunity present an attractive return on investment?  How many jobs will be created?  Are there any other social, environmental, or community impacts worth highlighting?  Can these be quantified?

TERMS AND CONDITIONS

Elevate-HER Terms and Conditions

1. Application Period

The application period opens on 1:00 p.m. (ChST) on Thursday, August 29, 2024, and closes at 11:59 p.m. (ChST) on Sunday, September 8, 2024. The top three finalists will be notified of their selection on Tuesday, September 10, 2024.

2. Media Coverage and Publicity

Consent: Applicants agree that Bank of Guam, the Guam Women’s Chamber of Commerce, and KUAM can use their name, photo, and pitch content in promotional materials, media coverage, and other publicity related to the program.

3. Confidentiality

Respect for Privacy: Information provided as part of this online application will only be shared with representatives of Bank of Guam and the Guam Women’s Chamber of Commerce as part of the program participant selection process. 

Applicants, representatives of Bank of Guam, the representatives of the Guam Women’s Chamber of Commerce, and KUAM agree to keep any proprietary information about applicants’ business and pitch shared during the program private and not disclose it to others.

4. Intellectual Property

Ownership: Applicants retain full ownership of their business ideas and pitch content.

Usage Rights: Applicants allow Bank of Guam, the Guam Women’s Chamber of Commerce, and KUAM to use their pitch content for promotional purposes.

5. Program Changes and Cancellation

Modifications: Bank of Guam may adjust the program structure or schedule if needed, with applicants being notified of changes.

Cancellation: Bank of Guam and the Guam Women’s Chamber of Commerce reserve the right to cancel the program at any time. If the program is canceled, applicants will be informed promptly. 

6. Participant Conduct

Professionalism: Applicants are expected to behave professionally and respectfully throughout the program. Failure to do so may result in disqualification from the program.

7. Disqualification

Grounds: Applicants may be disqualified if they do not meet the eligibility criteria or violate these terms and conditions.

Notice: Disqualified applicants will be informed, and any associated benefits will be forfeited.

8. Liability

Limitation: Bank of Guam, the Guam Women’s Chamber of Commerce, and KUAM are not responsible for any damages or losses related to participation in the program.

9. Governing Law

Jurisdiction: These terms are governed by the laws of Guam. Any disputes will be handled in the courts of Guam.

10. Acceptance of Terms

Agreement: By applying, applicants agree to these terms and conditions.

All inquiries can be sent to projectgive@bankofguam.com.