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Think you've got a good idea for a business? Now you've got to convince someone else it's a good idea. That's where the business pitch comes in.

In SoHo this week, some first-time entrepreneurs are figuring out how best to pitch investors-- in just 15 seconds. They're participating in "New York Entrepreneur Week," a meet and greet between startup companies and investors looking for the next big thing.

"On your mark, get set, go!" a coach tells several participants on stage. They pass a microphone down the line trying to set a new record for most "elevator pitches" listened to in five minutes.

"Cup of two kings. Think Pokemon plays soccer online."

"Wowtowel.com. It is the largest beach blanket on the planet."

Investor Stuart Ellman is impressed. "Would I buy one? Yes!" he says.

Ellman is the co-founder of the New York venture capital firm, RRE Ventures, managing $850 million.

The business ideas are all over the map: a social networking site for doctors, a Website that allows you to create your own chocolate bar, and a sculpture that produces enough energy to power a house, or a village in the mountains of Ecuador, as its creator Rein Triefeldt says.

Ellman is dubious. "Intriguing," he says. "Yet I have to admit I'm somewhat skeptical. There are the laws of physics and a variety of things around that. If you've invented a sculpture that can power a village I absolutely want to see it. Let's put it that way."

Eric Wiesen is another investor with RRE Ventures. He says the range of businesses pretty much reflects what he sees in the real world. And often 15 seconds is enough to make an impression.

For those entrepreneurs trying to score, investors Dave McClure, Owen Davis and Brian Cohen share some of their pet peeves with business pitches. They say too many entrepreneurs share the idea but don't outline what problem they're solving. They ignore the competitive landscape. They don't know their future customers well enough. Still, that is not slowing down the pitches. Wiesen says he's seen the number pick up since last year.

"Almost [like] flicking a switch after the New Year. We have seen just a staggering number and quality of companies looking for financing, particularly located here in New York," he says.

On average, Wiesen meets with 10 to 15 companies a week but that doesn't mean he says yes very often. He invests in only one to two companies a year.