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New Venture Challenge

Challenge yourself to transform your big idea into a successful business with the New Venture Challenge.

The New Venture Challenge is a premier venture competition available for all CMU students. NVC consists of five competitive tracks with over $100,000 in total cash prizes - awarded to the top ventures and innovative ideas. 

Through the New Venture Challenge you will learn start-up skills, build key relationships, pitch your ideas, and compete for funding.

To help you prepare for the New Venture Challenge we host a series of workshops, mentor meetups and networking events that will engage your entrepreneurial mindset.

NVC 2025 highlights

2025 marked the 15th anniversary of our signature competition. We recognized alumni and supporters of the program and introduced new special awards and competition categories. Explore highlights from this year below. 

Launching careers and creating legacies

Your journey to NVC

Learn

  • Come up with an idea or work on an idea you already have during our NVC Kick-off event.
  • Join our mentor meetups that guide you through the start-up process.
  • Discover ideation, customer validation, and other start-up skills during our 1-hour workshops.
A faculty member mentoring three students sitting around a table in the IDEA Den.

Connect

  • Meet and match with students who possess different skills to build your venture team.
  • Be paired with an NVC mentor who will advise on the growth and development of your venture.
  • Build key relationships with student entrepreneurs, advisors, investors during our Mentor Meetups.
  • Connect with resources on campus to help improve your venture. 
Two students sitting at a table with three faculty members during a new venture challenge workshop

Compete

  • Prepare for NVC and pitch in competitions throughout the year like the Make-A-Pitch competition and the Michigan Collegiate Startup Challenge.
  • Pitch your business idea on stage and receive critical feedback.
  • Refine your idea and enhance your business concept.
  • Compete in the NVC preliminary round in one of our four competition categories and earn a spot in the NVC Finals. 
Two students pitching their idea on stage during the 2023 Make-A-Pitch competition.

Win

  • New Venture Challenge awards over $100,000 in total cash prizes.
  • As a Full Presentation finalist you could win up to $20,000.
  • As an Elevator Pitch finalist you could win up to $4,000.
  • As a top Innovation Showcase team, you could win up to $1,000.
  • NVC provides many more opportunities for cash prizes. Please review the rules and guidelines page for a full list of awards.
A student standing with a cmu faculty member holding up the student's two winning checks during the 2024 New Venture Challenge

Launch

  • Utilize the skills you learned and connections you made to launch your business!
Three packages full of donuts from the Ignite Donuts bakery.

Review the requirements

Learn about the 6 competition categories and the requirements to compete.

NVC Rules and Guidelines

Competitor support

We host mentor meetups, workshops, and provide support to help prepare your team for the 2026 New Venture Challenge. Listed below are a few of the resources provided by the Isabella Bank Institute for Entrepreneurship. Please check out the New Venture Challenge resource page for a complete list of internal and external resources. 

  • Mentor Meetups
  • NVC 101 Workshops
  • Competitor guides
  • Graphic design services
  • Prototyping and product design support
  • One-on-one mentoring
  • Faculty support
  • Open workspaces
  • Venture development funding

NVC Competitor Resources

Ready, set, pitch!

What is it like to come up with a venture idea and pitch at the New Venture Challenge? Check out what NVC 2023 top prize winner Zach Bagby has to say.

Zach Bagby, New Venture Challenge Winner

New Venture Challenge competition categories

  • High Growth
  • Main Street
  • Social Mission
  • Alternative Entrepreneurial Pathways
  • Innovation Showcase
  • Innovation & Online Elevator Pitch

For descriptions and requirements of all NVC competition categories please visit the NVC rules and guidelines page.

NVC Categories

Check out past venture teams