New Venture Competition
The annual New Venture Competition (NVC) is a multi-round pitch competition that gives early-stage startups a chance to win up to $18,000! The NVC is appropriate for ventures of any kind including tech, consumer, creative, or social impact.
How it works:
- The NVC runs two parallel tracks:
- Tech ideas: Businesses whose primary motive is profits includes for-profit products/services, media, fintech, medtech, etc.
- Social impact ideas: Businesses whose primary motive is social impact and includes not for profits.
- The NVC consists of three rounds: Pitch & Pizza (Round 1), Semi-finals (Round 2), Finals (Round 3). The competition begins in the fall semester and concludes with the final winners in the spring semester.
- *New this year* To participate in Pitch & Pizza (Round 1), you must pitch at one Monthly Idea Night or at an office hour session with Shena Lohardjo, Innovate@BU Startup Manager. These opportunities will help you prepare for the competition and give your best pitch possible!
Who should participate?
- The competition is for BU student-led (undergrad or grad) or recent alumni (graduated within last 1 year) ventures in the seed, start-up, or early growth stages:
- Your startup should not have raised more than $100,000 in funding or grants.
- Your startup should not have more than $100,000 in revenues in the prior year.
- Your startup was not a prize winner in any previous year’s New Venture Competition.
- The competition is for Boston University student-led ventures. The BU student/s participating in the competition is/are expected to be all of these :
- (1) be a founder of the new venture,
- (2) be playing a primary role in developing the business,
- (3) be in key management roles in the startup venture, and
- (4) own significant equity in the startup venture,
- (5) be currently enrolled or a recent BU alumni (graduated within last 1 year)
- This is a multi-round competition. The BU students in the team will be pitching their idea in the various stages of the competition. If/As your team progresses, missing any of the following events may disqualify you/your team from moving forward:
Round 1: Pitch & Pizza
You get 60 seconds to pitch your idea (no slides!) to a panel of judges and community audience! At each Pitch & Pizza, four winning teams will be determined by the judges and move on to Round 2.
Pitch & Pizza is held six times (fall and spring semester):
- Thursday, October 18, 2018, 5-7pm – TECH IDEAS
- Thursday, November 1, 2018, 5-7pm – SOCIAL IMPACT IDEAS
- Thursday, November 15, 2018, 5-7pm – TECH IDEAS
- Thursday, December 6, 2018, 5-7pm – SOCIAL IMPACT IDEAS
- Thursday, February 7, 2019, 5-7pm – TECH IDEAS –
- Thursday, March 7, 2018, 5-7pm – SOCIAL IMPACT IDEAS – All pitch spots have been filled! Applications are now closed.
24 teams (12 from each track) will move on from Pitch & Pizza to the Semi-finals (Round 2).
All Pitch & Pizza spots have been filled. Applications are now closed.
Round 2: Semi-finals
Twenty-four teams (12 from each track) will move on from Pitch & Pizza to the Semi-finals round. Semi-finals include a 10-minute closed presentation to a panel of judges during the spring semester.
Judges will determine 12 teams (6 from each track) to move on to the final round. These 12 teams will win $500 each to help prepare for the finals.
Judging theme: Has the team validated the problem, solution, and key hypotheses?
Round 3: Finals
Twelve finalist teams (6 from each track) will move on from the Semi-Finals to the Finals for another closed presentation to a panel of judges during the spring semester. At Innovate@BU’s Year-End Celebration on April 26, 2019, all 12 teams will present a short pitch to a community audience and final winners will be announced.
Judges will determine the top six cash prize winners (3 from each track):
- 1st place: $18,000
- 2nd place: $8,000
- 3rd place: $6,000
Meet the 2019 Finalists!
On April 26, these 12 teams will be making their final pitch for a chance at the grand cash prizes. Join us at Innovators Night on Friday, April 26 to see who wins!
Social Impact Teams:
- Boston Afterschool Music launched a weekly music program at a K-8 in Roxbury that doesn’t provide music ed. We are looking to reach more students and add instrumental lessons, remaining a stable part of the community.
- BRÜZD rescues excess produce that would otherwise go to waste at the farm level, and delivers them to homes in Boston for less than supermarkets charge.
- Credyty is a student loans financing platform that aims to increase access to upper education in LATAM through Fintech solutions.
- Healthy Gamer is an online platform helping people with video gaming addictions. We are writing a new model to treat this modern epidemic affecting 20M in the US with an addictions specialist from McLean.
- Mæven enhances first-year college students’ academic performance by yielding gamified tutoring experiences in the academic fields of Science, Technology, Engineering, Foreign Languages, and Math.
- She Who Reads is a youth mentoring organization for young women in public high school that foster positive changes through goal setting, self-discipline, skill development, and friendship.
- Alcancio is a 100% digital bank that allows cheap, easy and convenient access to financial tools for the unbanked and underbanked in Latin America.
- CoCo College is a platform that exclusively connects students within their own university, where buying and selling books, TV’s, couches and more becomes a seamless interaction.
- Interpret is an app that will use a business model similar to Uber’s to provide real-time, accurate translation services worldwide.
- Pangissimo strives to offer consumers access to affordable surround sound entertainment by designing and manufacturing modular speakers that value sound quality, portability and accessibility.
- Rilla is online platform where entrepreneurs can connect with each other based on anonymous idea matching, learn how to build a new venture, and manage all new aspects of their business.
- VERTO is a secondhand eCommerce platform that facilitates pre-owned exchanges with thorough user-vetting, flexible delivery options including same-day door to door delivery, and no commission fees.