Harvard Business School’s 20th Anniversary New Venture Competition to offer a record $300,000 in Prizes to Student Businesses, Social Enterprises, and Alumni Ventures
BOSTON—In April, Harvard students and alumni will compete for $300,000 in cash prizes to fund their startup dreams in the 20th Anniversary New Venture Competition. Past competition winners and participants will also return to campus for programs and a celebratory 20th Anniversary New Venture Competition Finale on Tuesday, April 25, 2017. The School is offering its biggest prizes to date, with a $75,000 Grand Prize for top winners in the Student Business, Student Social Enterprise, and Alumni competitions. Additional prizes are a $25,000 Runner-Up Prize, $5,000 Audience Award, and in-kind services. Previously the Grand Prize was $50,000 in each category. More than 200 judges will vigorously review the new ventures in several rounds of judging. Past winners include Rent the Runway, Birchbox, and GrabTaxi. More than 800 people are expected to attend the competition’s Finale on campus on Tuesday, April 25, when the winners will be revealed. The keynote speaker will be Anthony Tan (MBA 2011), Group CEO and co-founder of GrabTaxi Holdings, the largest tech startup in Southeast Asia, which won the 2011 New Venture Competition. “The New Venture Competition is critical to entrepreneurship at Harvard Business School,” said Jodi Gernon (MBA 1991), Director of the Rock Center for Entrepreneurship, which oversees the student and alumni business tracks of the competition. “Competition winners say it was the launching point of their businesses, helped them to attract funding, and gave them the confidence, exposure, and skills to found companies.” “The New Venture Competition has catalyzed the creation of cutting-edge social enterprises at HBS and across Harvard University,” said Matt Segneri (MBA 2010), Director of the HBS Social Enterprise Initiative, which manages the social enterprise track. “The winning teams developed innovative approaches—using for-profit, nonprofit and hybrid models—to tackle society’s toughest challenges, including HIV prevention and K-12 education reform.” “Alumni describe the New Venture Competition as pivotal, invaluable, and enlightening,” said Mary-Helen Black, Director of HBS Alumni Clubs & Associations, “We have participation from alumni clubs around the globe, and it provides an important benefit to alumni founding startups.” 171 alumni teams applied in January and are being judged in 15 regions. Four alumni teams will make it to the semifinals to present and be judged at the April Finale at HBS. More than 70 student teams on the business track and 48 social entrepreneurs have already applied in advance of the March 8 deadline. HBS also offers workshops and other support for students. Learn more about the New Venture Competition at hbs.edu/nvc and track Harvard Business School’s 20th Anniversary New Venture Competition on Twitter at #HBSNVC. About the Student Business Track About the Social Enterprise Track About the Alumni Track About the Rock Center for Entrepreneurship The Rock Center is closely affiliated with the School’s Entrepreneurial Management Unit, which includes some 35 HBS faculty members dedicated to research, teaching, and course development in the field of entrepreneurial management. Harvard Business School’s first-year curriculum requires a full-semester course in Entrepreneurial Management. The second-year curriculum provides students with a wide selection of electives. The lessons learned serve students well after they have earned their degrees. Ten to fifteen years after graduation, fifty percent of Harvard Business School alumni describe themselves as entrepreneurs. For more information, visit hbs.edu/entrepreneurship. About the Social Enterprise Initiative: |
Jim Aisner
jaisner+hbs.edu
617-495-6157
Cullen Schmitt
cschmitt+hbs.edu
617-495-6155
About Harvard Business School
Harvard Business School, located on a 40-acre campus in Boston, was founded in 1908 as part of Harvard University. It is among the world's most trusted sources of management education and thought leadership. For more than a century, the School's faculty has combined a passion for teaching with rigorous research conducted alongside practitioners at world-leading organizations to educate leaders who make a difference in the world. Through a dynamic ecosystem of research, learning, and entrepreneurship that includes MBA, Doctoral, Executive Education, and Online programs, as well as numerous initiatives, centers, institutes, and labs, Harvard Business School fosters bold new ideas and collaborative learning networks that shape the future of business.