New Venture Championship
Encyclopedia
The New Venture Championship (NVC) is an international entrepreneurial investment competition for graduate students presented by the University of Oregon
’s Lundquist Center for Entrepreneurship.
Teams from all over the world come to Portland, Oregon
, United States
to present and defend business plans to a panel of judges with the possibility of winning the grand prize of $25,000. All NVC competitors receive cash awards and receive advice and counsel from business executives in the Northwest.
The 2012 New Venture Championship will be held April 5-7.
In 2008, over 70 teams submitted entries to compete for more than $70,000 in prizes and for a spot in both the 2008 Global Moot Corp. and the 2009 NVC Competition. Only the top 20 teams of about 60 applicants are selected to compete each year.
In April 2007, Columbia Sportswear CEO Tim Boyle and his wife, Mary, donated a total of $5 million to the University of Oregon. $3.5 million went to the New Venture Championship.
went on to win the 2007 Global Moot Corp Competition with a concept involving the producing, marketing and selling of environmentally friendly pest control products.
Currently, the team has renamed its venture Green Dragon Roach Kill and is awaiting approval from the United States Environmental Protection Agency
, as well as a pending patent on the environmentally friendly formula. The company currently has approximately $200,000 worth of orders from pest control firms in the southeastern states. In Oct. 2007, it placed first in Fortune
Small Business’ annual business plan competition.
The second place winner, Frontier Sciences, won $10,000. This early stage medical device development company in the orthopedic industry was represented by a six-person team from the University of Manitoba
, Canada. The third place winner of $5,000 was the Power Prawns Producer Co. from Thammasat University
in Thailand. The team’s winning concept involved exporting freshwater prawns to world markets.
In 2008, TakeShape from the University of Oregon and Klymit from Brigham Young University
shared the top prize, with each receiving $30,000. Other winners came from the Georgia Institute of Technology
, Stanford University
, Boise State University
, and the University of Manitoba
among others.
Judges are a mix of business professionals, many from sponsoring companies. The judges offer constructive feedback to the competitors.
Sponsors for NVC have changed and the number increased during the 17 years of the competition. The 2008 sponsors include Columbia Sportswear
, Intel, Tektronix
and Aequitas Capital Management.
The second place winner is awarded $10,000.
The third place winner is awarded $5,000.
The runners up (2) are each awarded $2,500.
Other awards include:
All prize awards total more than $70,000.
University of Oregon
-Colleges and schools:The University of Oregon is organized into eight schools and colleges—six professional schools and colleges, an Arts and Sciences College and an Honors College.- School of Architecture and Allied Arts :...
’s Lundquist Center for Entrepreneurship.
Teams from all over the world come to Portland, Oregon
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
to present and defend business plans to a panel of judges with the possibility of winning the grand prize of $25,000. All NVC competitors receive cash awards and receive advice and counsel from business executives in the Northwest.
The 2012 New Venture Championship will be held April 5-7.
History
The first NVC was held in 1992 in a university classroom at the University of Oregon campus. Only three teams participated, competing for $300 in cash prizes.In 2008, over 70 teams submitted entries to compete for more than $70,000 in prizes and for a spot in both the 2008 Global Moot Corp. and the 2009 NVC Competition. Only the top 20 teams of about 60 applicants are selected to compete each year.
In April 2007, Columbia Sportswear CEO Tim Boyle and his wife, Mary, donated a total of $5 million to the University of Oregon. $3.5 million went to the New Venture Championship.
Past winners
In 2007, Mullis Enterprises won $50,000 as the first place winner. This team from the University of GeorgiaUniversity of Georgia
The University of Georgia is a public research university located in Athens, Georgia, United States. Founded in 1785, it is the oldest and largest of the state's institutions of higher learning and is one of multiple schools to claim the title of the oldest public university in the United States...
went on to win the 2007 Global Moot Corp Competition with a concept involving the producing, marketing and selling of environmentally friendly pest control products.
Currently, the team has renamed its venture Green Dragon Roach Kill and is awaiting approval from the United States Environmental Protection Agency
United States Environmental Protection Agency
The U.S. Environmental Protection Agency is an agency of the federal government of the United States charged with protecting human health and the environment, by writing and enforcing regulations based on laws passed by Congress...
, as well as a pending patent on the environmentally friendly formula. The company currently has approximately $200,000 worth of orders from pest control firms in the southeastern states. In Oct. 2007, it placed first in Fortune
Fortune (magazine)
Fortune is a global business magazine published by Time Inc. Founded by Henry Luce in 1930, the publishing business, consisting of Time, Life, Fortune, and Sports Illustrated, grew to become Time Warner. In turn, AOL grew as it acquired Time Warner in 2000 when Time Warner was the world's largest...
Small Business’ annual business plan competition.
The second place winner, Frontier Sciences, won $10,000. This early stage medical device development company in the orthopedic industry was represented by a six-person team from the University of Manitoba
University of Manitoba
The University of Manitoba , in Winnipeg, Manitoba, Canada, is the largest university in the province of Manitoba. It is Manitoba's most comprehensive and only research-intensive post-secondary educational institution. It was founded in 1877, making it Western Canada’s first university. It placed...
, Canada. The third place winner of $5,000 was the Power Prawns Producer Co. from Thammasat University
Thammasat University
Thammasat University , or in brief TU , is Thailand's second oldest university. Officially established on 27 June 1934, the university was originally named by founder Pridi Banomyong, University of Moral Science and Politics , reflecting the political fervor of the time...
in Thailand. The team’s winning concept involved exporting freshwater prawns to world markets.
In 2008, TakeShape from the University of Oregon and Klymit from Brigham Young University
Brigham Young University
Brigham Young University is a private university located in Provo, Utah. It is owned and operated by The Church of Jesus Christ of Latter-day Saints , and is the United States' largest religious university and third-largest private university.Approximately 98% of the university's 34,000 students...
shared the top prize, with each receiving $30,000. Other winners came from the Georgia Institute of Technology
Georgia Institute of Technology
The Georgia Institute of Technology is a public research university in Atlanta, Georgia, in the United States...
, Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
, Boise State University
Boise State University
Boise State University is a public university located in Boise, Idaho. Originally founded in 1932 as a junior college by the Episcopal Church, the university became an independent institution in 1934, and has been awarding baccalaureate and master degrees since 1965...
, and the University of Manitoba
University of Manitoba
The University of Manitoba , in Winnipeg, Manitoba, Canada, is the largest university in the province of Manitoba. It is Manitoba's most comprehensive and only research-intensive post-secondary educational institution. It was founded in 1877, making it Western Canada’s first university. It placed...
among others.
Structure
Teams of graduate students come from across the nation and from around the world to participate. The ventures are created, managed and owned by students.Judges are a mix of business professionals, many from sponsoring companies. The judges offer constructive feedback to the competitors.
Sponsors for NVC have changed and the number increased during the 17 years of the competition. The 2008 sponsors include Columbia Sportswear
Columbia Sportswear
Columbia Sportswear Company is a United States company that manufactures and distributes outerwear and sportswear. It was founded in 1938 by the late Paul Lamfrom, father of present chairperson Gert Boyle. The company is headquartered in Washington County, Oregon, in an unincorporated part of the...
, Intel, Tektronix
Tektronix
Tektronix, Inc. is an American company best known for its test and measurement equipment such as oscilloscopes, logic analyzers, and video and mobile test protocol equipment. In November 2007, Tektronix became a subsidiary of Danaher Corporation....
and Aequitas Capital Management.
Other achievements
In 2004, Business Week rated NVC as one of the top three university-based business plan competitions in the world.Prizes
The New Venture Champion team wins $25,000 and automatic berth in both the 2008 Global Moot Corp Competition and the 2009 NVC Competition.The second place winner is awarded $10,000.
The third place winner is awarded $5,000.
The runners up (2) are each awarded $2,500.
Other awards include:
- IPC- Original Innovation Award of $2,500
- Palo Alto Software Best Written Plan of $1,500
- Tektronix Trade Show Award of $1,000
- Tektronix Elevator Pitch Award of $1,000
- OEN Lightning Round Awards has a prize pool of $17,500 that is distributed among 15 winning teams
All prize awards total more than $70,000.