Harvard Business School's 20th Anniversary New Venture Competition to offer a record $300,000 in Prizes to Student Businesses, Social Enterprises, and Alumni Ventures

BOSTON, Feb. 14, 2017 /PRNewswire-USNewswire/ -- This spring, more than 250 Harvard student and alumni teams are competing for $300,000 in cash prizes to fund their business and social enterprise startup dreams in the 20th Anniversary New Venture Competition. Past competition winners and participants will also return to campus for programs and a celebratory Competition Finale on April 25.

The School is offering its biggest prizes to date, with a $75,000 Grand Prize for top winners in the Student Business, Student Social Enterprise, and Alumni competitions. Additional prizes are a $25,000 Runner-Up Prize, $5,000 Audience Award, and In-Kind Services. Previously the Grand Prize was $50,000 in each category.

More than 200 judges will vigorously review the new ventures in several rounds of judging. Past winners include Rent the Runway and Birchbox.

More than 800 people are expected to attend the Finale when the winners will be revealed. The keynote speaker will be Anthony Tan (MBA 2011), Group CEO and co-founder of GrabTaxi Holdings, the largest tech startup in Southeast Asia, which won the 2011 New Venture Competition. 

"The New Venture Competition is critical to entrepreneurship at Harvard Business School," said Jodi Gernon (MBA 1991), Director of the Rock Center for Entrepreneurship, which oversees the competition's student and alumni business tracks. "Competition winners say it was the launching point of their businesses, helped them to attract funding, and gave them the confidence, exposure, and skills to found companies."

"The New Venture Competition has catalyzed the creation of cutting-edge social enterprises at HBS and across the University," said Matt Segneri (MBA 2010), Director of the HBS Social Enterprise Initiative, which manages the social enterprise track. "The winning teams developed innovative approaches—using for-profit, nonprofit and hybrid models—to tackle society's toughest challenges, including HIV prevention and K-12 education reform."

"Alumni describe the New Venture Competition as pivotal, invaluable, and enlightening," said Mary-Helen Black, Director of HBS Alumni Clubs & Associations, "We have participation from alumni clubs around the globe, and it provides an important benefit to alumni founding startups."

Follow Harvard Business School's 20^th Anniversary New Venture Competition at hbs.edu/nvc and on Twitter at #HBSNVC.

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SOURCE Harvard Business School