Lyft to host pitch competition for its entrepreneurial drivers

Ridesharing company Lyft is launching a pitch competition and offering more than $30,000 in cash prizes for its drivers who are also entrepreneurs.

The live competition, Lyft Pitch, will be held in D.C. in November. It is designed to provide extra support for Lyft drivers who are working to grow their small businesses. Of Lyft’s approximately 1.5 million drivers across the country, nearly 18 percent are driving to support their own business, according to the company.

Approved rivers from Maryland, D.C. and Virginia will be able to submit an application and elevator pitch explaining their business or startup idea between Sept. 26 and Oct. 21. Eight finalists will be selected to attend a business boot camp, where mentors will advise them on how to hone their pitch for the live event on Nov. 14.

The finalists will present their 3-minute pitches in front of a live audience and panel of judges comprised of Lyft executives, venture capitalists and other businesspeople. They will be evaluated…

Read the full story from the Washington Business Journal.