The summary provides an overview of NYU ITP's 4th Annual Pitchfest event which gives ITP student teams the opportunity to pitch their startup ideas to investors. The event includes preparatory workshops on May 28th, June 4th and 11th to help teams refine their pitches and business models. On June 18th, 8 to 10 pre-selected teams will present their pitches at the Pitchfest event to receive feedback from mentors and coaches. Lightning round pitches were given by various student teams in attendance to get initial feedback. Teams were then given homework to further develop their pitches in areas like problem statement, market size, and business model for the next workshop.