16th Annual Global New Venture Challenge (GNVC) Announces 7 Finalists to Compete for $150,000
On May 20, MBA teams from around the globe competed at the semi-finals of the 2023 Global New Venture Challenge (GNVC).
Now in its 16th year, the GNVC is a track of the top-ranked Edward L. Kaplan, ’71, New Venture Challenge, and is designed exclusively for Chicago Booth’s executive MBA students. It debuted in 2008 to accommodate the growing entrepreneurial aspirations of Booth’s executive MBA students on each of its three global campuses—Chicago, Hong Kong, and London. Each year the GNVC brings together more than 80 alumni and members of the business community to serve as coaches, judges, panelists, and guest speakers. Eighteen teams were selected to compete in three different semi-finals which were held at each global campus. The seven selected as finalists will face off in Chicago next week on May 30.
Waverly Deutsch, clinical professor of entrepreneurship who leads the intensive classroom component of the program and oversees one-on-one coaching sessions commented on the program, “Every year we continue to be amazed by the diversity of business models that emerge from this process. The innovations this year’s finalists will bring to market include a wholly new way for small business owners to get social media marketing support, a staffing platform for the unique challenges of the energy industry with its unusual build-harvest hiring cycles, and a simple way for individuals to store their own stem cells to ensure the ability to leverage the rapidly emerging treatments in personalized medicine. And that is just a taste of what will be presented [at the finals] on May 30th. We can’t wait to see where these companies will go in the future.”
This year’s GNVC finalists are:
Apricott // Apricott connects small businesses, influencers, and journalists to produce quality social media content to improve viewership and business impacts. Starting as a credible platform to facilitate collaboration and transaction between small businesses and content creators, Apricott aims to be an international marketplace of social media management services and high-quality content production.
Talent Engine // Talent Engine offers a fast and easy way to match the right prospect to the right job at the right price exclusively for the Energy sector. Talent Engine is a staffing, AI-driven platform that identifies and matches a talent pool to project needs while providing one source of truth during the employment of your contractors and engineers.
RS Kids // RS Kids is a progressive early childhood learning program for children between the age of 3 to 5 years that will enhance and shape physical, mental and social skill development. Using learning from sport, the afterschool program will combine indoor and outdoor physical training to create positive habits and build skills such as confidence and resilience and positively contribute to life outcomes.
Yarra // Yarra is a fem-health company working to commercialize a new type of menstrual cup that significantly improves women’s comfort through a revamped design and a new user experience: insert it and remove it like a tampon. The proprietary and patent-ready design eliminates the suction effect of a traditional cup, making it comfortable to wear and easy to handle.
ReGen Cell Therapy // ReGen Cell Therapy is a stem cell company providing cleaning, storage, and regeneration services for humans and animals at price points that will allow people to have access to treatments that are not available today, but will be available in the future. Saving for the cure.
Soigné Aesthetics // Soigné Aesthetics is developing a new scalable and repeatable business model within the aesthetic injectables market. Soigné Aesthetics will only administer neuromodulators (e.g., Botox, Dysport) and dermal fillers (e.g., Juvéderm, Restylane), and establish a well-known, trusted brand with a consistent experience across all national locations.
Eden Intelligence Financial (formerly South Pine Wealth Management) // Eden Intelligence Financial wealth management advisory is tailored for families immigrating to the U.S. with established careers and businesses. Their solution provides sophisticated advisory at affordable price by utilizing a software platform with artificial intelligence solutions based on investment theories from the University of Chicago.