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The Elevator Pitch is typically used in the context of an entrepreneur pitching an idea to a venture capitalist to receive funding. Venture capitalists often judge the merit of an idea on the basis of the quality of its elevator pitch. THEY will ask entrepreneurs for the elevator pitch to quickly weed out bad ideas. Condensing your company's message to a few short phrases is hard but necessary and most successful businesses have gone through this process. Learning the "Speed to Cool" concept is key when searching for your Elevator Pitch.