The Global New Venture Challenge (GNVC)
Objective
The program is structured to meet the unique schedule needs of Chicago Booth executive MBA students. Since Chicago Booth has three global campuses—Chicago, London and Hong Kong—each campus hosts its own semi-finals event. The top teams across all campuses are invited to participate in the global finals, which are held in Chicago during the Executive MBA graduation week.
Description
The Global New Venture Challenge (GNVC) is the dedicated track of the Edward L. Kaplan, ’71, New Venture Challenge program that supports Chicago Booth Executive MBA students worldwide. Second-year students in the Chicago Booth Executive MBA program are eligible to apply to the GNVC and participate as one of their capstone course requirements. A benefit of the GNVC is the participation of our alumni and members of the business community in the coaching and judging portions of the competition. More than 80 coaches, judges, panelists, and guest speakers participate in the GNVC each year.
PURPOSE OF PROGRAM
To encourage the founding and growth of high-potential new ventures by second year Chicago Booth Executive MBA students.
PHASES OF THE PROGRAM
Phase I : Feasibility Summary and Application
Phase II : Course – mentoring, critical feedback, business plan development
Phase III : Final Pitches
ELIGIBILITY
Only second-year Executive MBA students are eligible to apply for the Global New Venture Challenge.
Entries must be the original work of the entrants and have commercial promise.
Each GNVC team must have a minimum of two second-year Executive MBA students per team and a maximum of six second-year Executive MBA students per team. It is okay to apply with one second-year Executive MBA student, but an additional second-year Executive MBA student must be added to the team before Phase II.
Applicants may not have raised more than $500k of outside investment (angel or VC) at the time of application (personal investments do not apply to this cap).
First-year Executive MBA students may participate in an advisory role and attend class, but will not receive credit for the course.
Teams whose founding members are unaffiliated with Chicago Booth are only eligible to apply to the GNVC if they have a current Chicago Booth second-year Executive MBA student as an integral part of their team, with a 10% equity stake in the venture.
Teams may have members who are not affiliated with the Chicago Booth participate on their teams. The Polsky Center encourages teams to identify these individuals, as they likely contribute additional expertise and experience to help the team succeed.
No late submissions will be accepted
SCHEDULE AND KEY DATES
// Late September/First Week of School: CNVC Kickoff
// October: Application Workshops and Teambuilding Events
// Mid November: Application Deadline
// Late November: Announcement of selected teams
// December: Mandatory Orientation + Teambuilding
// January-March: CNVC Class and Pitches
// Late February/Early March: CNVC Finals and Investments
Eligible Schools
University Of Chicago Booth School Of Business
March 07, 2025
November 01, 2024
Private
University Of Chicago Booth School Of Business
The top teams will be invited to participate in the global finals and win cash prizes up to $50,000