Pitching contest through the eyes of the organizer: Marcella Krawinkler – MK
Interviewers: Chiara Paprotny, Leah Rough (student assistants) – CL
“The
most memorable pitches are rarely
the most polished ones, they’re the most authentic.”
/Marcella Krawinkler/
Origins and Purpose of the Pitch Contest
CL: Can you tell us a little about where the idea of having the pitch contest came from? Has it always been part of the program?
MK: For context, the pitch contest is the key event of the Business Planning course, held during the Austrian term for students in the MGB program’s Peru–Austria–Canada (PAC) track.
The contest itself was introduced by my predecessors, and inspired by shows like Shark Tank and its Austrian counterpart 2 Minuten 2 Millionen. It started in 2020, two years before I took over the course. Students loved the experience, which made me want to keep it as a regular part of the course. It gives them experiential learning, real-life challenges, and pushes students to develop skills they wouldn’t gain from lectures alone.
CL: How do you think the pitch contest fits into the broader goals of the MGB program?
MK: As the highlight of the Business Planning course, the pitch contest brings the core goals of our program to life. It challenges students to apply their knowledge by developing and presenting a business idea under real-world conditions. This practical experience strengthens their persuasive communication, sharpens their solution-focused and critical thinking under pressure, and builds their ability to collaborate in diverse teams – all essential skills for any (global) professional.
Structure and Rules
CL: How did you determine the contest format and rules? (e.g. the five-minute time limit, the two-student team setup, etc.)
MK: The format and rules were shaped by two main goals: realism and learning value. We wanted the pitch contest to reflect the high-impact situations students will face in their careers, whether pitching to investors, clients, or internal decision-makers.
The five-minute limit, for example, trains students to be concise and focused, just like in real business settings where time and attention are limited. We also allow teams to choose how they present, whether it is one speaker or several, to give them ownership over their strategy. This flexibility encourages teamwork, planning, and strong communication, all of which are key to a convincing pitch.
CL: Have there been any major changes or improvements to the pitch contest format over the years? Why?
MK: Yes, we adjust the format every year based on feedback and experience, even though we keep the overall structure, as it has already proven successful. These ongoing improvements help keep the contest fresh, relevant, and valuable for students.
One big change was opening the Q&A session to the entire student audience, not just the jury. Interestingly, peers often ask the most direct and critical questions. They are not afraid to “pour salt on the wound” and challenge weak points. This has added a valuable layer to the experience.
We also introduced coaching workshops with external experts. Pitch trainers and start-up consultants now help teams improve their business models and presentation skills. This has greatly improved the quality of the final pitches and makes students feel much more confident.
Judging and Selection Process
CL: How do you go about selecting the judges for the panel? Are they mostly external experts, alumni, or faculty?
MK: We use an “ecosystem model” for our judging panel to make sure each pitch is evaluated from different points of view. The panel usually includes:
- A successful alumnus who is also an entrepreneur. This person knows the MGB program well and judges the pitch with real founding experience in mind. This person may also serve as a role model for our students.
- An external innovation expert who looks at the business idea with a commercial mindset. This person asks tough questions about things like market fit, scalability, and return on investment.
- A start-up consultant from an incubator or accelerator who brings a hands-on view from the start-up world. They check if the team is ready to move forward and whether the idea could work in real networks.
- A senior faculty member who ensures academic quality. They focus on whether the market research is solid, and if everything fits together logically.
Importantly, we also make sure to include both female and male judges to support diverse thinking and fair representation.
CL: How does the jury typically determine the winner? Are there specific criteria, or is it more of an open discussion?
MK: Choosing a winner is a structured and transparent process that combines individual scoring and group discussion. Each judge uses a clear rubric to score teams across six key areas:
- Desirability: Does the idea solve a real market need?
- Feasibility: Can the team realistically get the resources, skills, and technology to make it happen?
- Viability: Is there long-term business potential, with a clear market and growth path?
- Plausibility: Are their assumptions backed by solid research or testing?
- Impact: Did the team thoughtfully consider the social and environmental effects of their idea?
- Pitch and Q&A: Was the idea presented clearly and professionally? How well did they handle questions?
After all teams have pitched, the jury meets to review the scores. While the numbers usually reflect the overall impression, the discussion is essential. It helps confirm the winning team and allows us to give each team detailed feedback on their strengths and areas for improvement. We also use this input to further develop the course; for example, by adding more training where we see that students need extra support.
Student Impact and Outcomes
CL: What skills or abilities do you believe this contest helps students develop most?
MK: Besides the obvious skills like public speaking, the most important skills students gain from the pitch contest are synthesis and resilience. They learn to turn a long, complex business plan into a short, clear, and engaging five-minute story; a skill that is valuable in any business role. Just as important is learning how to handle tough feedback in front of an audience. When experts question their ideas or financials, students must stay calm and respond thoughtfully. This experience builds confidence and helps them grow professionally.
CL: Have any student projects gone on to become real businesses?
MK: Yes, a student from the very first year of the PAC course came to the course with an early idea that was further developed over the semester. In the course, he and his team refined the concept, added a strong social impact angle, and created a full business plan. A jury member even called it “a perfect first start-up idea.” He later launched the business and is now a successful alumnus of the MGB program, serial entrepreneur, and long-time jury member who shares his story and experience with new students each year. We follow his journey for five years now.
Other ideas had
strong potential but weren’t pursued – often because the program continues in
Peru, making it hard to keep momentum. Some students also chose different paths,
weren’t ready to start a business right after graduation, or found that their
idea didn’t hold up under intense market testing.
But that’s not the main point. At its core, the Business Planning course,
including the pitch contest, is about building an entrepreneurial mindset. It’s
a valuable asset in any career path, whether students launch a venture or work
in a company, now or in the future.
Highlights and Reflections
CL: Which student projects or pitches have stood out to you over the years? Why?
The most memorable pitches are rarely the most polished ones, they’re the most authentic. Teams that truly stood out were often personally connected to the problem they tackled. They deeply understood their target group and market needs, and this came through in their storytelling and overall concept. Also strong team cohesion, visible throughout the course and especially on stage during the pitch contest, made a big difference. It led to clear, confident delivery and a compelling overall performance.
A great example is Kepler Elixier (2022), a campus beer project that reinvested profits into student innovation, events, and facilities. It combined fun with community impact.
From 2025, LINX – Your First Friend in a New City stood out. While similar ideas appeared in the previous years, this was the first to present a fully thought-out, convincing concept. Both teams won in their year.
CL: Are you usually happy with the engagement? Have you noticed any trends in participation over time?
MK: Yes, I’m very satisfied with the engagement. Participation has consistently been high, especially since the contest counts toward the course grade. Over time, it has grown into a ‘signature event’ of the MGB program’s PAC track during the Austrian term. The involvement of an external jury has raised the level of professionalism and made the experience more impactful for the students.
CL: What advice would you give to students preparing to pitch next year?
MK: First, fall in love with the problem, not your solution. Stay flexible and open to feedback, but always stay focused on the core issue you’re trying to solve. Second, know your numbers inside out. Be ready to clearly explain your market size, pricing, and financial assumptions; the Q&A will quickly reveal any gaps. Third, tell a story. Don’t just list features; show who your customer is, what their pain point is, and how your idea will make their life better. As we all know, people remember stories, not bullet points.
CL: Is there anything else you’d like to share about your experience organizing the contest, or something we haven’t covered yet?
MK: Just that the true value of the contest isn’t the single winning team. It’s the journey all the participating students take. From refining business models to endless practice sessions and finally stepping on stage, that’s where real learning happens.
It has been a privilege to lead this experience for four years. Now it’s time to hand it over and let others shape the course in their own way. I’m especially grateful to my wonderful institute team, who highly encouraged me to develop it into a key event for our students in Austria.