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Global New Venture Challenge

Global New Venture Challenge

Application & Eligibility

The Polsky Center works in conjunction with the Chicago Booth Executive MBA office to manage the GNVC. The program is divided into three phases, which are outlined below.

  • Phase I: Current Chicago Booth Executive MBA students will apply to the GNVC with a feasibility summary. The feasibility summary is the application for the GNVC.
  • Phase II: Accepted companies will participate in local programming, mentorship, and feedback opportunities (resources will vary by region). Phase II will conclude with a regional semi-finals event, where top team(s) from each campus 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 in Chicago during on the Executive MBA graduation week 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 $75,000 in funding!

Application Deadline // Applications for the 2020 GNVC cycle are due on Monday, October 14, 2019 by 10:00 a.m. CT. If you have any questions about the application process, please contact Crissy Ritter.

 

Eligibility Requirements
  • 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 teams must have a minimum of two second-year Executive MBA students enrolled per team and a maximum of six second-year Executive MBA students enrolled 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 the team finalization deadline. Additionally, if a team wants more than six second-year Executive MBA students to participate on a team, those additional students will have to participate in an advisory capacity and may not be enrolled in the course.
  • 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 may participate in the GNVC at a different campus from their assigned campus, but the transfer needs to be approved by the Polsky Center and the Program Offices. The entire team will need to completely transfer campuses for all classes that take place during the GNVC class week. All students enrolled as part of the team, must complete their class week at the campus where the team is competing.
  • 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.

 

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