GeneralWhat is the $300K Entrepreneurs Challenge?
The $300K Entrepreneurs Challenge is two things:
(1) First and foremost, the $300K Entrepreneurs Challenge is an accelerator, or a structured program that provides you with the support, resources and tools to move through the venture creation process quickly. We can't guarantee that you'll be ready to launch in 8 months, but we do our best to help every team get as far as possible. The more resources you take advantage of, the further along you'll get.
(2) Running alongside the accelerator program is a competition where teams can compete for cash prizes and pro bono services.
The general mindset we promote is, "Join the Challenge to get your venture up and running. And if you happen to win the cash, that's icing on the cake!"
What are the three competition tracks, and how are they different?
New Venture Competition : The New Venture Competition is the largest of the three tracks and accepts the broadest array of entries. Teams with virtually any business idea (minus consultancies, advisories, franchises, and real estate syndications) may enter.
Social Venture Competition : The Social Venture Competition is for ventures tackling social problems, domestic and abroad. Both for-profit and nonprofit ventures are welcome, but nonprofits MUST have an earned income revenue stream (e.g. have a revenue model that is not primarily dependent upon grants and donations only).
Technology Venture Competition: Sponsored by the NYU Entrepreneurial Institute, the Technology Venture Competition seeks to commercialize NYU inventions and new technologies in the information technology, life science, and energy sectors.
Who runs the $300K Entrepreneurs Challenge?
The $300K Entrepreneurs Challenge is administered annually by the W. R. Berkley Innovation Labs at NYU Stern. Located on the 4th floor of Tisch Hall, the W. R. Berkley Innovation Labs provides a number of programs and services to support NYU community members with an interest in innovation, both from a startup and corporate perspective. The Labs provide startup acceleration programs, mentoring, workshops and technical assistance, all designed to provide NYU students, alumni, faculty and staff with the skills and resources needed to discover and execute bold new ideas.
Who can participate in the $300K Entrepreneurs Challenge?
All students, faculty, researchers, and alumni of New York University are welcome to compete. Prior business education or experience is not necessary. For a more complete discussion of Eligibility, visit the Eligibility page.
What kind of time commitment is required to participate?
The Challenge is an 8-month program. It kicks off in mid-September and ends with the Final Pitch-Off & Awards Ceremony in early May. There are various full-day bootcamps, shorter-format clinics and workshop, and coaching appointments available throughout the duration of the Challenge and centered around refining the various aspects of your venture concept. If you plan to take advantage of everything that is available, there will be something on your calendar almost every week. But ultimately, you will choose how much effort you are willing to spend on your venture.
Where can I find the full list of dates and activities related to the $300K Entrepreneurs Challenge?
Visit the Timeline page for a full listing and to download a printable calendar. Don't forget that you must register for each and every event you wish to attend. Having an accurate headcount helps us to reserve enough space, order enough food, and have enough handouts and materials for everyone planning to attend.
How do I register for events?
In addition to having the schedule of events, the Timeline page also includes links to register and sign up for all the available resources. We can't stress enough how important it is to sign up for each event individually. Make sure you receive a confirmation email and present either an electronic or paper ticket to the registration desk at the start of the event!
Where can I find the materials like video recordings and slide decks for boot camps and workshops?
We do not guarantee the availability of video recordings or slide decks. However, if we have those additional resources available for an event, we will share them on the Resources page of the portal.
What does each winner get?
New Venture Competition winners share the $100,000 Ira Rennert Prize. Social Venture Competition winners share a $75,000 prize. Technology Venture Competition Winners share a $100,000 prize from the NYU Entrepreneurial Institute. All winning teams will also be connected to pro bono services valued at over $50,000.