The winners of the fifth annual Rocket Pitch Competition were announced yesterday, a contest that saw eight entrepreneurs pitch a panel of experts on the viability of their new business idea.First place went to Laura Lyons for Avisrara, an Online Art Gallery; Laura Trott took second with Pets R Us, a full-service pet shop complete with veterinary services, and third place went to Feria Alpha’s Fruit Florists, edible fruit arrangements.The Island-wide competition was a chance for emerging entrepreneurs to submit a business plan to launch an enterprise providing products or services to both local and/or international clients and was part of the Global Entrepreneurship Week festivities.Hosted by local bank Capital G and the Bermuda Economic Development Corporation (BEDC), participants vied for a cash prize of $3,750.Business ideas ranged from a crowd sourcing public art works, nutritious chef services, to a producer of elegant three dimensional do-it-yourself invitations, a one-stop shop pet store, online art gallery, edible fruit arrangements, a mobile retail outlet, and an online resource for freelancers.“The framework of the Rocket Pitch presentation is simple,” said Jamillah Lodge, business development officer for the BEDC. “The presenter has seven minutes to tell a story to potential investors and then respond to questions. The main goal of a Rocket Pitch is to illustrate a business opportunity. A pitch needs to be clear and straightforward and not overly technical.”“It wasn’t an easy task choosing first, second and third place,” said judge Rob Bernardino, head of Business Banking Capital G Bank Ltd, who along with Michelle Khaldun, executive director, BEDC, and Anthony Foster, owner, Bermuda Sanitation & Engineering and BEDC chairman, chose the top three winners.Minister of the Economy Patrice Minors was on hand to congratulate the top three winners as well as Joe Mahoney, executive director of the Youth Entrepreneurship Initiative and coordinator of the GEW Bermuda Host Committee.“We believe that every entrepreneur who enters the Rocket Pitch Competition is a winner for getting their dream of starting a business underway by coming in to pitch their business plan,” he said.