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In this fast-moving world of sound bites and Twitter posts, getting your startup’s message boiled down into one simple digestible sentence is more important than ever. Now, here’s your chance to practice, with some nifty prizes for the winner.

We’re hosting a “Startup Pitch Session” in conjunction with the Founder Institute over the next three days in which any entrepreneur can submit their one sentence pitch in the comment thread of this post. (No elevator is needed here, but we’ve got a separate project cooking on that front which we will be launching next month).  Deadline for this contest is 9 p.m. Pacific time on Sunday, February 26th.

Veteran entrepreneur and Founder Institute creator Adeo Ressi has agreed to judge the entries, provide feedback and help pick a winner, which we will announce on GeekWire some time early next week.

Adeo Ressi

And just to make things a little interesting — since every entrepreneur likes to get his or her competitive juices flowing — the Founder Institute has agreed to provide the winner with a full scholarship to the tech accelerator’s Spring program in Seattle. (Courses run from March 5 to June 26 and normally cost $995).

Meanwhile, GeekWire will feature the entrepreneur in one of our upcoming Startup Spotlight profiles.

Ressi, who sold GameTrust to RealNetworks in 2007 and went on to start, has some great advice on how to pitch a company in this video. And he suggests that entrepreneurs follow this very simple format when pitching:

“My company, _(insert name of company)_, is developing _(a defined offering)_ to help _(a defined audience)_ _(solve a problem)_ with _(secret sauce)_”.

So, what are you waiting for: Ready, set … pitch!!

UPDATE: Thanks to everyone who offered pitches. I wanted to let everyone know that we just chose our winner. Check it out here.

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