The Center for Entrepreneurship and Innovation has announced the contenders for the 28th Edward L. Kaplan, ’71, New Venture Challenge (NVC). This renowned startup accelerator program, aimed at MBA students from the Booth School of Business, is a hotbed of innovative ideas and ambitious entrepreneurs.
A wide variety of industries are represented, from technology to healthcare, and the competition is expected to be fierce. Each contender is competing for a significant cash prize and mentorship opportunities. The event is set to take place on May 30, 2024, and a total of $1 million in investment funds will be distributed.
Participants will present their innovative business concepts to industry-expert judges, and part of the winnings includes at least $180,000 for the first-place team via the Rattan L. Khosa First-Place Prize. More than just a chance to win funds, this event provides a superb networking platform with industry leaders, potential investors, and other innovators.
Since its inception in 1996 at Chicago Booth, the NVC has been instrumental in the successful launch of over 370 startups including successful brands like Grubhub, Braintree/Venmo, Simple Mills, and Tovala. The program is committed to fostering innovation and entrepreneurship and has played a key role in the beginning stages of many successful startups.
Competing in Kaplan’s distinguished business challenge
The eleven final teams for this year’s challenge were chosen from an initial group of thirty competitors. Among the 2024 finalists are Ark Health, Decimal Code, and Encore Marketplace Inc. These startups have shown significant innovation and hold potential to disrupt their respective industries.
Ark Health is developing tech-driven initiatives that aim to provide high-quality, affordable healthcare. Decimal Code is making strides in the cybersecurity industry with their focus on encrypted coding to protect sensitive data. Encore Marketplace Inc is shaking up the online commerce space with their sustainable products.
Other finalists include Space Evolutions Limited, who focus on eco-friendly urban living with mini-cities that use digital currencies and waste-to-energy technologies, and Data Genetics International who are pioneering advanced molecular diagnostic tests to tailor treatments for cancer patients. This year’s NVC competition is truly showcasing the intersection of technological advancements and entrepreneurial prowess.
This esteemed event features different tracks catering to alumni, undergraduates, executive MBA students, and more. It will culminate at the annual Edward L. Kaplan, ’71, New Venture Challenge Finals, held on May 30, 2024. All eyes are on this prestigious competition, as it gears up to choose the entrepreneurs of tomorrow.
