2025 Harvard Business School New Venture Competition: Students and Alumni Create Groundbreaking Solutions for the World’s Unique Challenges
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BOSTON—Harvard Business School’s (HBS) Klarman Hall was packed to capacity yesterday evening, with spectators there to support the 12 student and alumni finalist teams competing in the Finale of the 29th annual HBS New Venture Competition (NVC). At stake was $315,000 in cash plus in-kind prizes to fund the startups. The top prize in the Student Business Track, Student Social Enterprise Track, and Alumni New Venture Competition was $75,000 each, with runner-up prizes of $25,000; and three audience prizes of $5,000.
The NVC is open to all students and alumni interested in launching new business and social impact ventures. The School’s Arthur Rock Center for Entrepreneurship and Social Enterprise Initiative (SEI), host the annual competition with support from HBS Alumni Relations. This year, 245 teams participated in the competition—94 in the Student Business Track, 35 in the Student Social Enterprise Track, and 116 Alumni Track teams in six regional competitions around the world. Since its inception in 1997, there have been more than 5,000 teams participating, with more than $4 million awarded to the winning entries from students and alumni who are creating groundbreaking new businesses and social impact ventures, generating more than 23,000 jobs. This year’s new venture pitches were vetted by and given feedback from more than 190 judges and mentors, including many HBS graduates, from fields such as venture capital, private equity, law, accounting, philanthropy, impact investing, and social entrepreneurship. The result was 19 finalists; eight in the Student Business Track, four in the Social Enterprise Track, and seven in the Alumni Track, in fields as varied as healthcare, sustainability, artificial intelligence, lifestyle, and nutrition. “The New Venture Competition is a true reflection of the entrepreneurial spirit at HBS, providing students with a platform to transform bold ideas into real ventures,” said Thara Pillai, director of the Rock Center for Entrepreneurship. “It not only showcases the depth of innovation and talent within our community but also embodies the best of what HBS has to offer—collaborative problem-solving, world-class mentorship, and a dynamic ecosystem that empowers the next generation of founders.” “Meaningful progress on social issues depends in large part on the entrepreneurialism and energy of the next generation. The New Venture Competition offers emerging leaders the inspiration to envision a better world, balanced with the tools to translate those dreams into an effective new venture,” Amelia Angella (MBA 2001), director of the Social Enterprise Initiative, said. “The NVC provides our students a rich educational experience to test their ideas, get feedback from judges with deep experience in the field, and to advance their social impact.” “Entrepreneurship is at the heart of HBS. More than 50 percent of our alumni start companies, and each year, our community continues to grow with leaders dedicated to launching ventures,” Jana Kierstead, executive director of MBA and Doctoral Programs and External Relations, said at the event. “As the number one MBA program for the number of founders, companies started, and capital raised, we take pride in seeing our alumni shaping industries and driving innovation worldwide. The alumni teams here tonight are an inspiring reminder that entrepreneurship is a lifelong pursuit, and the HBS community continues to build, lead, and grow ventures that make a meaningful difference.” “At the Rock Center, we see the HBS New Venture Competition as a pivotal opportunity for students to apply what they’ve learned in the classroom to real-world entrepreneurial challenges. Complementing HBS courses, NVC provides a hands-on experience that helps students refine their pitches, strengthen their business models, and develop the strategic thinking needed to secure funding,” noted Senior Lecturer Julia Austin, one of the Rock Center faculty co-chairs. “This competition prepares founders to navigate investor conversations with confidence while also offering access to non-dilutive capital—giving them the financial flexibility to grow their ventures without giving up equity,” During the ceremony, Professor Christina Wallace, senior lecturer in the Entrepreneurial Management Unit, said, “The New Venture Competition is one of my favorite moments of the year—it captures the ambition, creativity, and hustle of our students and alumni. It’s not just a pitch competition; it’s a launchpad where bold ideas get sharpened, stress-tested, and sometimes completely transformed. Watching these founders chase big problems and build with purpose is endlessly inspiring.” In addition to the $315,000 in cash prizes, sponsors donated in-kind tools and services that will help the startups launch and grow. In-kind sponsors are Harvard Innovation Labs, Harvard Business School's Foundry, Foley Hoag, HubSpot for Startups, and Wix. This year’s winners are:
Student Business Track
The Dubilier Prize was established by New York and London-based private investment firm Clayton, Dubilier & Rice in 1998 in honor of their founder, Martin Dubilier (MBA 1952), to support entrepreneurship.
The Satchu-Burgstone Prize honors Jon Burgstone (MBA 1999), Asif Satchu (MBA 1999), and Reza Satchu (MBA 1996), all recipients of the runner-up prize in the 1999 competition with their plan for SupplierMarket.com.
The Dubilier $75,000 Grand Prize
Argus Systems: Accelerating AI model development for physical AI. Team:
Satchu-Burgstone $25,000 Runner Up Prize
HydroHaul: Redefining the hydrogen value chain, linking consumers with producers affordably and flexibly. Team:
Crowd Favorite Prize
Accio: Streamlines and automates the hardware manufacturing process. Team:
Student Social Enterprise Track
The Sacerdote Prizes were initially established in 2003 by Peter M. Sacerdote (MBA 1964) to encourage more HBS graduates to become involved in social enterprises and to support their efforts.
Peter M. Sacerdote $75,000 Grand Prize
Lexi: Breaking language barriers with AI-powered medical interpretation for over 30 million patients. Team:
Peter M. Sacerdote $25,000 Runner Up Prize
Aidra Health: Bridging gaps in medical equipment access by enabling sharing and redistribution through an asset-light model.
Team:
Crowd Favorite Prize
Alumni Track
Separately, HBS alumni were invited to participate in the Alumni New Venture Competition (aNVC). The 116 teams competed in six regions around the world, where regional finalists were sent to the Global Finals round to compete for over $100,000 in cash and in-kind prizes. More than 100 judges participated. Winners were announced at the Global Finale held virtually on March 27.
First Place Winner
Noolie: Creates first-of-its-kind supplements for children in the form of a snack, revolutionizing how nutrition is given to kids through childhood and beyond. Team:
Runner Up
FastLine: The first device to allow central venous catheters to be placed with continuous ultrasound guidance and to automatically perform gold-standard safety checks to prevent the $3 billion cost of these highly morbid complications. Team:
Crowd Favorite
FastLine |
Mark Cautela
mcautela+hbs.edu
617-495-5143
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