Alumni New Venture Challenge (ANVC)

The Polsky Center works in conjunction with University of Chicago alumni in various regions to manage the ANVC. The program is divided into three phases, which are outlined below.

• Phase I: Eligible University of Chicago alumni entrepreneurs will apply to the ANVC with a feasibility summary. The feasibility summary is the application for the ANVC. Applicants must choose one of the participating regions to apply to. Regional alumni leads will select 4-8 companies to advance to Phase II of the ANVC, with support from the Polsky Center team.
• Phase II: Accepted companies will participate in local programming, mentorship, and feedback opportunities (resources will vary by region). Phase II companies will receive access to virtual resources from the Polsky Center. Phase II will conclude with a regional semifinals event, where top team(s) from each participating region will be selected to advance as finalists to Phase III. Each region will send at least one finalist team, based on the number of applicants.
• Phase III: The program will culminate on May 11, 2023, where finalist teams from each region will pitch in front of a world-class panel of investors and established entrepreneurs for a chance to win up to $100,000 in funding!

Application Deadline // January 11, 2023

Your team will need to create an account to submit the application. The application requires submission of basic details about the venture, a 2 minute video pitch, a 5-page feasibility summary, team member resumes, and signatures from each team member to comply with the rules of the program. Good examples of feasibility summaries can be found on the Resources page.

ANVC Office Hours with Gorana Kolar

If you are considering applying to the Alumni New Venture Challenge and have any questions related to the application, including your idea, eligibility, program resources, etc., please contact Gorana.Kolar@ChicagoBooth.edu.

• Venture must be original and have commercial promise
• Team lead must be a degreed UChicago alum as of the application date, and this alum should have equity in the company and a role on the management team, as well as pitch at all ANVC-related events.
• There is no minimum or maximum team size, however each team is required to have at least one degreed UChicago alum.
• Teams may have members who are unaffiliated with UChicago. The Polsky Center encourages teams to identify individuals who may contribute the additional expertise and experience to help the team succeed.
• Venture must be a for-profit enterprise
• Venture must not have participated in any of the NVC tracks
• Venture must have less than $1M USD in annual revenue
• Venture must not have raised more than $1M USD in total debt/invested equity
• Venture must be less than 5 years old
• Incorporation is highly encouraged, but not required
• Alums may submit their application to only one participating region
• Alums may submit multiple companies. It is unlikely that multiple entries from the same team will be successful given that the plans are judged partly on the ability of the team to execute the plan.
• Venture is not eligible to apply to any other track of the NVC in the same year