Key Dates and Competition Structure
The New Venture Competition is made up of three rounds:
- Initial written application
- Semi-Finals pitching, and
- Finals pitching
Competition Tracks
The NVC has two tracks. Teams must choose one track on the application that is most appropriate for their venture.
The General Track is open to for-profit ideas from all sectors, while the Social Impact Track is for ideas whose main objective is to provide large-scale, positive economic, social, cultural, or environmental change and/or whose mission focuses on a significant segment of traditionally underserved, neglected, or disadvantaged populations.
Round 1: Written Application
All interested teams must submit an application by February 15 at 11:59pm ET. Applicants from up to 20 teams (approx 10 per track) will be notified via email in March if they are advancing to Round 2.
Round 2: Semi-Finals
You’ve advanced beyond the written application, well done! You will be awarded $500 for reaching this point.
The format for the Semi-Finals includes a 10-minute pitch with slides and an 8-minute Q&A with judges. These will not be open to the public.
All semi-finalist teams are required to have a 45-minute pitch preparation and feedback session with Innovate@BU staff or coaches prior to pitching in this round and must attend the Semi-Finals event for the team’s track in its entirety.
Semi-Finals Dates:
- General Track: March 26, 2024
- Social Impact Track: March 27, 2024
Round 3: Finals
If you’ve made it this far, you’re one of just 10 teams who have advanced!
The format for the Finals includes a 10-minute pitch with slides and a 10-minute Q&A with judges. These will have limited attendance and will be live-streamed for friends and family.
All Finalist teams are required to attend a 45-minute pitch preparation and feedback session with Innovate@BU staff or coaches prior to pitching in this round and must attend the Finals event in its entirety. Additionally, Finalists must attend Innovator’s Night where the winners of each track will be announced.
Finals Dates:
- General Track: April 23, 2024
- Social Impact Track: April 24, 2024
Awards
The top three teams in each track are awarded:
- 1st: $20,000
- 2nd $8,000
- 3rd: $6,000