Overview

InNUvation's 2008 NU Venture Challenge is Northwestern University's only university-wide entrepreneurship competition. The student-run competition is a platform for entrepreneurial students to experience first-hand the process of cultivating a business idea from scratch. Participants will have access to world-class faculty, veteran entrepreneurs, and early-stage investors. In addition, students can form teams by drawing on the diverse backgrounds, interests, and talents of individuals throughout the university.

Who can participate?

Teams of up to 6 members are allowed to enter the competition. At least half of the team must be full-time or part-time students at Northwestern University during the 2007-2008 school year. Teams can (and are encouraged to) have members from the university's different schools.

What if I have don't have much business experience?

We are hosting workshop events to help you step-by-step through the process of developing a business idea. These workshops will cover the strategy, marketing, and finance aspects that are necessary in any new business venture. In addition, you will have the opportunity to be paired with a mentor that can help refine your idea into a successful business.

How is the competition structured?

The competition will consist of 3 rounds:

  • Round 1 - Business plan abstract
  • Semi-finals - 3 minute elevator pitch + 2 minute Q&A
  • Finals - 10 minute presentation + 5 minute Q&A

When is the competition?

The competition will follow the below timeline:

  • April 11: First round deadline; business plan abstracts due
  • April 26: Semi-final round; teams present 3-minute elevator pitch and finalists announced at end of day
  • May 11: Final Round & Gala

Make sure you don't miss our team building and workshop events. These are posted on our calendar.

More details

Round 1: Abstracts will be judged within the first week of submitting and all contestants will receive feedback on how they did on each of the judging criteria. Semifinalists will be notified of their progress into Round 2 also within a week of submission. Teams can request mentors to prepare for their next two rounds.

Round 2: Teams with the 30 best round 1 submissions will move into the semi-final round, where they will be judged in 2 stages by a panel of VCs and entrepreneurs. This round will require the team to do a 3-minute elevator pitch and answer a few questions from the judges. The results of the semi-finals will be known on the same day, with feedback.

Round 3: The 6 best teams will move to the final round, where they will be required to do a more detailed 10 minute presentation, and have a five minute Q&A session with a panel of 6 judges. The presentations will be done in front of a live audience.