Eunice Png and Julie Sygiel, two Brown University seniors, did not snag the top prize when they presented their idea for a new product – a lingerie line for menstruating women called sexy.period – at their school’s elevator-pitch competition last month. In fact, they didn’t even place.

But like all good businesspeople, the two young women figured out how to turn a short-term setback into an advantage. After retooling their pitch to reflect the feedback they got at Brown, the pair beat out 32 other entrepreneurs to win the $300 first prize at the Rhode Island Elevator Pitch Competition on Dec. 4.