Most other universities host a single day or weekend business plan competition for their students interested in entrepreneurship. The CNVC is different. It is not just a competition. Instead, it is a multifaceted and interactive business launch program that features three distinct phases:

  • Phase I: Idea generation, validation, team formation, and selection. Concludes with application process and team selection. 
  • Phase II:  A for-credit class at Chicago Booth for College students. Includes startup pitches and business plan development.
  • Phase III: The Finals Competition

Application Components

  1. FEASIBILITY SUMMARY: Students must develop a 5 page feasibility summary outlining a business or idea.
    • Common elements of a feasibility summary include:
      • Value proposition
      • Customer segments
      • Competition
      • Intellectual property
      • Customer engagement
      • Revenue model
      • Operations
      • Management team
      • Progress to date
      • Business risks
      • Business analogues
    • Formatting:
      • 10-12 pt font
      • 1 inch margins
      • Arial, Helvetica, or Times New Roman
      • 5 page maximum
  2. PITCH VIDEO: Students must create a 1-minute elevator pitch video articulating the following (Upload the video to YouTube -- you can leave it unlisted – and submit the URL.):
    • What problem are you solving?
    • What is your solution?
    • What evidence do you have that the problem is real or substantial?
    • Why are you the team to solve this problem?
    • How will the College New Venture Challenge enable you to reach your goals?
  3. APPLICATION QUESTIONS: Students must speak to the following topics about their business in short-answer responses:
    • Business description (50 words or less, please note that this info may be made available on marketing materials)
    • Problem this business is addressing (125 word limit)
    • Social impact of business (if applicable) (125 word limit)
    • Customer segment this business addresses (125 word limit)
    • Potential market size (125 word limit)
    • Competing or substitutable products (125 word limit)
    • Why is this the right team to launch this business? (125 word limit)
    • Key milestones or estimated time to market (125 word limit)

Application Deadline // Friday, November 20, 2020 at 10 a.m. CST
Your team will need to create an account to submit the application. The application requires submission of basic details about the venture, an 5-page feasibility summary, video pitch, team member resumes, and signatures from each team member to comply with the rules of the program. If you have any questions about the application process, please send them to

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