Innovate@BU welcomes all Boston University students and class of 2024 alumni to apply to the 2025 New Venture Competition. The competition invites founders with exciting business ideas to take their startups to the next level. Qualifying teams get access to coaching, feedback on their idea and pitch, founder and team skill-building, media exposure, and more. Plus, all semi-finalists and finalists will receive a piece of the $80,000 prize. If you’re ready to take your venture to launch, this is the opportunity for you!
Competition Structure
The New Venture Competition has two separate tracks: one for general startups, and one for social impact ventures. Unsure of which category is best for your business? Check out more details on the NVC homepage.
- General Track:
Focused on for-profit ventures that aim to solve market problems or create value for a large audience. These ventures should have a scalable business model, meaning their solution can grow and reach a broader market without requiring proportional increases in resources. If your idea is centered on building a successful business with high growth potential and profitability, then this track is for you. - Social Impact Track:
Focused on ventures—whether for-profit, non-profit, or hybrid models—that prioritize making a positive difference in society, the economy, culture, or the environment. These ventures embed their mission for impact into their core operations and decision-making processes, ensuring that creating change is at the heart of what they do. If your idea is designed to address societal challenges or drive meaningful change as its primary goal, then this track is for you.
Once accepted to a track, participants will progress through three rounds of competition between February and April 2025. The competition gets more selective with each round of cuts, so be sure to bring your A-game to every pitch!
The three round structure includes:
- Written Application
- In-Person Semi-Finals Pitch
- In-Person Finals Pitch
After the final pitch, a special celebration featuring all the finalists will be held at our annual end of year event called Innovators Night which will be held on April 16th, 2025! You won’t want to miss the chance to pitch your hard work on stage in front of an audience of innovators and founders from Boston and beyond. The winners will be announced at the end of the evening and receive their cash prizes.
What are the prizes?
Each track awards prizes to the top three teams. There’s even a chance to win an audience choice award at Innovator’s Night!
- 1st Place: $20,000
- 2nd Place: $10,000
- 3rd Place: $6,000
- Audience Choice: $500
Additionally, every semi-finalist receives $500.
Who can participate?
Whether you’re a current BU student or an alumni within one year of graduation, Innovate@BU invites you to apply! Check out the details below for further eligibility specifications.
- At least one founding team member must be a current BU student (undergraduate or graduate) or an alum who graduated within the past year. This person must hold a key management role, actively contribute to developing the business, and be a main presenter if the venture advances to subsequent rounds.
- Your startup has not raised more than $250,000 in funding or grants.
- Your startup has not had more than $500,000 in revenues in the prior year.
- Your startup has not won first, second, or third place in a previous Innovate@BU New Venture Competition.
- Teams must apply with an original idea and agree to not violate any contract or third party rights including any patent, copyright, trade secret, proprietary or confidential information, trademark, publicity or privacy rights.
- *For currently enrolled BU PhD students only: The venture you are applying with is not connected to your thesis work.
- The application must be submitted by the BU student or Class of 2024 alum who is the founder/co-founder and will act as the primary team contact.
What is the time commitment?
The New Venture Competition is for innovators who are fully dedicated to taking their startup to the next level. Get ready to spend your time diving headfirst into mentorship, pitching, and ideating to make your experience as successful as possible. All dates are required.
Round 1: Application Deadline: Wednesday, January 29, 2025
Round 2: Semi-Finals:
- General Track: Tuesday, March 25, 2025
- Social Impact Track: Wednesday, March 26, 2025
Round 3: Finals:
- General Track: Monday, April 14, 2025
- Social Impact Track: Tuesday, April 15, 2025
Are you ready to take your venture to the next level? Whether you’re a social impact founder or a future business magnate, NVC is the place to start something real. The Innovate@BU community is excited to guide you through each stage of the competition and watch your venture take off!
Still Curious? Attend an Info Session!
Learn more about the New Venture Competition at one of our upcoming info sessions. Visit the calendar for more dates and details.
Visit the NVC homepage to start your application and get familiar with more program details.
If you have any specific questions about the New Venture Competition, please email innopath@bu.edu.
