Description
In such a brief data in relation to new venture challenge polsky center for entrepreneurship.
NVC IMPACT
By harnessing the intellectual power, creativity, and business acumen of
UChicago students, alumni, and local professionals, the NVC aims to launch
start-ups that provide effective, thoughtful solutions to major problems faced
in a broad range of industries—including technology, healthcare, energy, and
education. Since it began, the NVC has launched more than 85 businesses,
which together have raised $240+million in funding and created 1,300+jobs,
spurring growth in and beyond the regional economy. Companies include:
ACTON YOUR IDEA
Launched in 1996, the Edward L. Kaplan, ’71,
New Venture Challenge (NVC) is the University of
Chicago’s premier start-up program, designed
to help student teams turn ideas into a viable
businesses.
The NVC process begins in the fall with team building,
networking, and ideation. In the winter, teams apply
to the program by submitting feasibility summaries.
Selected teams then advance to a classroom round,
where they work on their businesses, practice pitching,
develop a full business plan, and receive mentorship
from investors and established entrepreneurs. The
NVC concludes in May with a ?nals competition,
where teams pitch to a world-class panel of investors
and entrepreneurs. Prizes in the form of cash, legal
services, and professional consulting are awarded.
NVC TRACKS
The NVC has expanded and now includes four
tracks: Traditional, Social, Global, and College, which
offer tailored programming to meet the needs of
UChicago’s diverse student body.
Traditional New Venture Challenge (NVC) The
original track of the NVC has helped launch many
successful, high-growth companies such as Braintree,
GrubHub, Bump Technologies, and AllTuition.
Social New Venture Challenge (SNVC) Co-organized
by the Polsky Center and the Social Enterprise
Initiative at Chicago Booth, the SNVC helps students
launch for-pro?t and nonpro?t ventures with social
impact missions and models for ?nancial sustainability.
Global New Venture Challenge (GNVC) In 2008,
the NVC added a track for Executive MBA students
from the Chicago Booth London, Singapore, and
Chicago campuses. An online platform allows
globally-based alumni to participate as mentors.
College New Venture Challenge (CNVC) Building
on the success of UChicago’s Social Innovation
Competition, the Polsky Center recently launched
the CNVC to help UChicago undergraduates craft
innovative and sustainable for-pro?t and non-pro?t
enterprises.
chicagonvc.com and chicagobooth.edu/entrepreneurship
[email protected]
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Matt Maloney, MBA ’10, Cofounder, GrubHub
“The New Venture Challenge generated the attention and credibility I
needed to bring in VC funding as an unseasoned entrepreneur. From
the extensive coaching and helpful critique, to the invaluable feedback
I received from the judges, the NVC accelerated GrubHub into a
focused, scalable business that hasn’t looked back.”
Crain’s Chicago Business, March 2012
“Would-be entrepreneurs eager to create the next big thing are ?ooding
into the University of Chicago’s business plan competition. The program
has seen a surge in interest as more students come to Booth looking to
start their own companies. The success of past participants, including
GrubHub Inc., FeeFighters, and Power2Switch, in raising venture capital
also has helped.”
Continuation of autumn programs:
• Start-up Academy
• D4Lab
• Ideation Sessions
• Innovation Workshop Series
• Linkedin “Ideas Marketplace” Network
“How to Write a Feasibility Summary”
Workshop NVC faculty share best practices
for developing feasibility summaries about
proposed ventures, and a networking
session offers fast-pitch and team formation
opportunities.
NVC Application Deadline & Selection NVC
feasibility summaries are due and reviewed
by a committee of faculty and alumni.
Teams are selected to advance to the
classroom round. To access the application,
visit: chicagonvc.com.
NVC Kickoff An interactive event offering an
overview of the NVC, access to NVC faculty
and staff, and opportunities to network and
pitch ideas, and meet potential teammates.
Ideation SessionsInteractive sessions for
students to learn about new university
research and explore commercialization
opportunities and business applications.
D4Lab A workshop series and fellowship
in partnership with the Illinois Institute of
Technology. D4Lab helps multidisciplinary
teams identify problem areas and design
solutions in speci?c industries. d4lab.com
Big Problems, Big Ideas An annual forum
for the UChicago community to discuss
solutions to major problems faced by
various sectors at local and global levels.
Innovation Workshop SeriesResearchers,
innovators, investors, entrepreneurs, and
others from across UChicago meet to discuss
best practices for commercializing university
technology. chicagobooth.edu/iws
SeedCon An annual conference hosted by
the Polsky Center and the Entrepreneurship
& Venture Capital student group featuring
speakers, interactive workshops, and a fast-
pitch competition. seedcon.com
NVC Coffee Hours Casual, weekly forums
to discuss ideas, receive feedback from
Polsky Center staff and faculty, and meet
other students applying to the NVC.
Start-Up Academy Workshops hosted by
the Entrepreneurship & Venture Capital
student group on practical issues related
to starting a business, including building an
MVP, establishing a legal entity, and more.
Linkedin “Ideas Marketplace” Network
An online forum for students and others
interested in participating in the NVC to post
ideas and form teams. linkd.in/nvcideas
IDEATION, TEAM FORMATION, PITCHING, MARKET RESEARCH, AND TESTING
NEW VENTURE CHALLENGE TIMELINE
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FEASIBILITY STUDIES, MARKET RESEARCH, TEAM FORMATION, APPLICATION SUBMISSION & SELECTION
NVC Course Teams selected to advance
to the second round of the NVC take
a course to develop their ideas into full
business plans. Tailored classes are offered
for each track of the NVC. These courses
include workshops on presentation
skills, ?nancial modeling, and legal
considerations, as well as opportunties
to pitch in front of and receive critique
and feedback from seasoned investors,
entrepreneurs, alumni, and industry experts.
Coaching & Mentorship NVC teams have
access to a dynamic network of more than
200 experienced professionals, including
venture capitalists, angel investors, impact
investors, established entrepreneurs and
social entrepreneurs, prior NVC participants,
industry experts, and others.
Law School Advising Students from the
UChicago Law School provide legal advice
to NVC start-up teams as part of a Corporate
Lab class aimed at providing law school
students with real-world work experience.
NVC Finals In May, top teams from
each NVC track are selected to present
before world-class panels of investors and
entrepreneurs.
UChicago Innovation Showcase An
interactive celebration of entrepreneurship,
innovation, and collaboration across the
UChicago community held annually in
conjunction with the NVC Finals. Students
showcase their start-ups, and faculty
announce the winners of the NVC.
innovationshowcase.uchicago.edu
ARCH Venture Partners New Business
Incubator NVC ?nalist teams and other
UChicago start-ups are granted of?ce
space in Hyde Park or downtown Chicago,
as well as faculty guidance to develop their
businesses over the summer and throughout
the academic year.
Accelerator ProgramUChicago student
start-up teams receive workshops,
mentorship, funding, and of?ce space
during a 10-week summer program.
NVC teams are encouraged to apply.
polskycenter.com/accelerator
PROOF OF CONCEPT, DEVELOPMENT, GROWTH
doc_755725678.pdf
In such a brief data in relation to new venture challenge polsky center for entrepreneurship.
NVC IMPACT
By harnessing the intellectual power, creativity, and business acumen of
UChicago students, alumni, and local professionals, the NVC aims to launch
start-ups that provide effective, thoughtful solutions to major problems faced
in a broad range of industries—including technology, healthcare, energy, and
education. Since it began, the NVC has launched more than 85 businesses,
which together have raised $240+million in funding and created 1,300+jobs,
spurring growth in and beyond the regional economy. Companies include:
ACTON YOUR IDEA
Launched in 1996, the Edward L. Kaplan, ’71,
New Venture Challenge (NVC) is the University of
Chicago’s premier start-up program, designed
to help student teams turn ideas into a viable
businesses.
The NVC process begins in the fall with team building,
networking, and ideation. In the winter, teams apply
to the program by submitting feasibility summaries.
Selected teams then advance to a classroom round,
where they work on their businesses, practice pitching,
develop a full business plan, and receive mentorship
from investors and established entrepreneurs. The
NVC concludes in May with a ?nals competition,
where teams pitch to a world-class panel of investors
and entrepreneurs. Prizes in the form of cash, legal
services, and professional consulting are awarded.
NVC TRACKS
The NVC has expanded and now includes four
tracks: Traditional, Social, Global, and College, which
offer tailored programming to meet the needs of
UChicago’s diverse student body.
Traditional New Venture Challenge (NVC) The
original track of the NVC has helped launch many
successful, high-growth companies such as Braintree,
GrubHub, Bump Technologies, and AllTuition.
Social New Venture Challenge (SNVC) Co-organized
by the Polsky Center and the Social Enterprise
Initiative at Chicago Booth, the SNVC helps students
launch for-pro?t and nonpro?t ventures with social
impact missions and models for ?nancial sustainability.
Global New Venture Challenge (GNVC) In 2008,
the NVC added a track for Executive MBA students
from the Chicago Booth London, Singapore, and
Chicago campuses. An online platform allows
globally-based alumni to participate as mentors.
College New Venture Challenge (CNVC) Building
on the success of UChicago’s Social Innovation
Competition, the Polsky Center recently launched
the CNVC to help UChicago undergraduates craft
innovative and sustainable for-pro?t and non-pro?t
enterprises.
chicagonvc.com and chicagobooth.edu/entrepreneurship
[email protected]
N
E
W
V
E
N
T
U
R
E
C
H
A
L
L
E
N
G
E
Matt Maloney, MBA ’10, Cofounder, GrubHub
“The New Venture Challenge generated the attention and credibility I
needed to bring in VC funding as an unseasoned entrepreneur. From
the extensive coaching and helpful critique, to the invaluable feedback
I received from the judges, the NVC accelerated GrubHub into a
focused, scalable business that hasn’t looked back.”
Crain’s Chicago Business, March 2012
“Would-be entrepreneurs eager to create the next big thing are ?ooding
into the University of Chicago’s business plan competition. The program
has seen a surge in interest as more students come to Booth looking to
start their own companies. The success of past participants, including
GrubHub Inc., FeeFighters, and Power2Switch, in raising venture capital
also has helped.”
Continuation of autumn programs:
• Start-up Academy
• D4Lab
• Ideation Sessions
• Innovation Workshop Series
• Linkedin “Ideas Marketplace” Network
“How to Write a Feasibility Summary”
Workshop NVC faculty share best practices
for developing feasibility summaries about
proposed ventures, and a networking
session offers fast-pitch and team formation
opportunities.
NVC Application Deadline & Selection NVC
feasibility summaries are due and reviewed
by a committee of faculty and alumni.
Teams are selected to advance to the
classroom round. To access the application,
visit: chicagonvc.com.
NVC Kickoff An interactive event offering an
overview of the NVC, access to NVC faculty
and staff, and opportunities to network and
pitch ideas, and meet potential teammates.
Ideation SessionsInteractive sessions for
students to learn about new university
research and explore commercialization
opportunities and business applications.
D4Lab A workshop series and fellowship
in partnership with the Illinois Institute of
Technology. D4Lab helps multidisciplinary
teams identify problem areas and design
solutions in speci?c industries. d4lab.com
Big Problems, Big Ideas An annual forum
for the UChicago community to discuss
solutions to major problems faced by
various sectors at local and global levels.
Innovation Workshop SeriesResearchers,
innovators, investors, entrepreneurs, and
others from across UChicago meet to discuss
best practices for commercializing university
technology. chicagobooth.edu/iws
SeedCon An annual conference hosted by
the Polsky Center and the Entrepreneurship
& Venture Capital student group featuring
speakers, interactive workshops, and a fast-
pitch competition. seedcon.com
NVC Coffee Hours Casual, weekly forums
to discuss ideas, receive feedback from
Polsky Center staff and faculty, and meet
other students applying to the NVC.
Start-Up Academy Workshops hosted by
the Entrepreneurship & Venture Capital
student group on practical issues related
to starting a business, including building an
MVP, establishing a legal entity, and more.
Linkedin “Ideas Marketplace” Network
An online forum for students and others
interested in participating in the NVC to post
ideas and form teams. linkd.in/nvcideas
IDEATION, TEAM FORMATION, PITCHING, MARKET RESEARCH, AND TESTING
NEW VENTURE CHALLENGE TIMELINE
A
U
T
U
M
N
W
I
N
T
E
R
S
P
R
I
N
G
&
S
U
M
M
E
R
FEASIBILITY STUDIES, MARKET RESEARCH, TEAM FORMATION, APPLICATION SUBMISSION & SELECTION
NVC Course Teams selected to advance
to the second round of the NVC take
a course to develop their ideas into full
business plans. Tailored classes are offered
for each track of the NVC. These courses
include workshops on presentation
skills, ?nancial modeling, and legal
considerations, as well as opportunties
to pitch in front of and receive critique
and feedback from seasoned investors,
entrepreneurs, alumni, and industry experts.
Coaching & Mentorship NVC teams have
access to a dynamic network of more than
200 experienced professionals, including
venture capitalists, angel investors, impact
investors, established entrepreneurs and
social entrepreneurs, prior NVC participants,
industry experts, and others.
Law School Advising Students from the
UChicago Law School provide legal advice
to NVC start-up teams as part of a Corporate
Lab class aimed at providing law school
students with real-world work experience.
NVC Finals In May, top teams from
each NVC track are selected to present
before world-class panels of investors and
entrepreneurs.
UChicago Innovation Showcase An
interactive celebration of entrepreneurship,
innovation, and collaboration across the
UChicago community held annually in
conjunction with the NVC Finals. Students
showcase their start-ups, and faculty
announce the winners of the NVC.
innovationshowcase.uchicago.edu
ARCH Venture Partners New Business
Incubator NVC ?nalist teams and other
UChicago start-ups are granted of?ce
space in Hyde Park or downtown Chicago,
as well as faculty guidance to develop their
businesses over the summer and throughout
the academic year.
Accelerator ProgramUChicago student
start-up teams receive workshops,
mentorship, funding, and of?ce space
during a 10-week summer program.
NVC teams are encouraged to apply.
polskycenter.com/accelerator
PROOF OF CONCEPT, DEVELOPMENT, GROWTH
doc_755725678.pdf