Getting students to come up with a product or service and make a business pitch is a great task based lesson. It will also hone their presentation skills and is practical - something they might use in their future.
Here are some templates and aids for this topic. Go through what makes a great 1 min pitch (see handout) and view the video. Then challenge students to fill out the template and then make their pitch to the class! Vote afterwards on two things. 1. Best pitch 2. Best product (but not best pitch).
Also see the longer Business Plan template that can be used for a longer presentation and project.
Hat tip to this post with some more valuable resources for this topic!