About University of Chicago New Venture Challenge
Launched in 1996, the Edward L. Kaplan, '71, New Venture Challenge (NVC) is one of the nation's premier business launch programs, allowing students to act upon their entrepreneurial ideas within a supportive and highly rewarding environment. The NVC process includes two phases and a finals competition. Prizes in the form of cash, legal services, and professional consulting are awarded to the top teams that make it to the final phase of competition. In 2014, over $300,000 in cash prizes and business services were awarded to the winners and finalists. NVC teams have access to the ARCH Venture Partners New Business Incubator, housed within the Polsky Center, with access to office amenities, Polsky Center staff, and entrepreneurial faculty. Many NVC teams take advantage of this space to work on their business during the summer and academic year following the NVC.