The recent New Venture Competition at the Baylor University – Hankamer School of Business awarded more than $179,000 in cash to student entrepreneurs.
The competition, now in its sixth year, invites student entrepreneurs from universities around the world to compete, with the chance to gain access to expert coaching, feedback and in-kind business support. The competition takes place over the course of several rounds, which culminates in a two-day final round consisting of twelve student teams. Also present at the finals, which this year took place last February, were over 100 judge—ranging from industry professionals to entrepreneurship faculty and more—who provided crucial feedback and coaching for the students.
While the top three winners took home significant cash prizes, all twelve finalist teams left Baylor with financial prizes and new industry connections. The top winners came from a variety of industries: In first place, Grow Bioplastics from University of Tennessee, Knoxville (with a $60,000 prize); in second place, MITO Material Solutions from Oklahoma State University (with a $35,000 prize); in third place, RHOBACK Activewear from the University of Virginia Darden School of Business (with a $20,000 prize).
Another cash prize from the Venture Competition was given out in the form of a $12,500 award from Dell, now in its second year as the competition’s sponsor, for the “Most Innovative Use of Technology.” The award this year was presented to StudyTree from Drexel University, which utilizes AI technology to provide a mobile academic advisor to students. Additional awards, such as the Power of Business Award, RealFoundations ward and a prize for the Elevator Pitch competition offered more chances for students to walk away with business capital. At the last minute, an anonymous donor even offered $2,000 to each of the finalist teams, simply because they were so impressed by the quality of the competitors.