An elevator pitch is a term used to refer a concise description of an entrepreneur's business idea. It is also known as elevator speech. It is brief description of a product, service, person, group/organization, or project. Elevator pitch is often used in fund raising events. It is also used as a marketing tool to influence.
The phrase “elevator pitch” conveys the idea is that one should be able to present his/her business model to an investor in a highly influencing fashion in the time span of an elevator ride. An elevator speech should take only a few seconds, or just one or two minutes. An elevator pitch may be presented in oral, written, picture, and video formats.