nuvc kickoff 2011

8/7/2019 NUVC Kickoff 2011

1/19

NUVC KICKOFF

March, 7th 2011


2/19

2011

NUVC Overview

5th Northwestern University Venture Challenge University-wide business idea competition

Goals:

P

romote and support entrepreneurship and creation ofnew

ventures at NU

Enhance collaboration

and exchange of ideas

Provide startup capital

and establish credibility


3/19

2011

5 Submission Categories

Used for abstract assignment, special awards, and businessdiversification

1. Healthcare and Biomedical Sciences

2. Energy and Sustainability

3. Information Technology and Social Media

4. Social Enterprise/Non-profit

5. Other Products and Services


4/19

2011

NUVC Details

3 Competition Rounds:

Abstract Deadline March 25th, 2011

Semifinals Elevator Pitch April 25th, 2011

Finals Presentation May 23, 2011

1st Prize$12,000

2nd Prize$6,000

3rd Prize$2,400

Best Green Energy/Sustainability, $1200Best Nanotech/Healthcare, $1200

Best Social Media, $1200

Best Undergrad, $1200


5/19

2011

Key NUVC Dates

Monday, March 7th

, 2011 : NUVCK

ickoff

Friday, March25th,2011 : Abstract Round 1

Team registration and abstract submission deadline

Midnight deadline for submissions

Wednesday,April13th,2011 : Semifinalists Announced

Monday,April25th,2011 : Semifinal Round 2

Elevator pitch 3 minute presentation + 4 minute Q&A

Monday, May23rd,2011 : Final Round 3

NUVC Final 10 minute presentation + 5 minute Q&A


6/19

2011

Judging & Networking Opportunity

Judged by entrepreneurs,venture capitalists, NU

professors and angel investors

Finals coincide with the Farley

Center for Entrepreneurship and Innovation 2nd Annual Summit

(great networking opportunity, entrepreneur panels, speakers,

dinner award ceremony).

Meet other entrepreneurial students at NU and form

interdisciplinary teams around great business ideas


7/19

2011

Judging Criteria

Creativity and innovation involved in the business concept

Likelihood ofbusiness success

Stage of idea development

Knowledge of the product/service and its market

Growthpotential and capability to become market leader

Sustainability of the business and competitive advantage

Capital needs and rationality of the financing strategy


8/19

2011

NUVC Team Progression

90+ Submitted Abstracts

40 Discussed Abstracts

24 Semifinalists

6 Finalists


9/19

2011

Round 1: Abstract Evaluation

Single page (front and back allowed) submitted to

nuvc.innuvation.org by Midnight March 25th, 2011

Abstracts sent to volunteer evaluators

Graduate students representing every school with expertisein 1+ of the 5 categories

Abstracts scored according to criteria

Top 40 scoring abstracts enter an NIH-style round table

discussion, others are eliminated After discussion, 23 abstracts pass to semifinal round.

Top ARD team fills the 24th spot


10/19

2011

Round 2: Semifinals

24 Teams, 2 Presentation Rooms

3 minute elevator pitches, 4 minutes Q&A

Semifinalist judges are divided between two rooms

Presentations are in front of a live audience Scores in each room are normalized by room

average and ranked

Qualifying top ranked teams pass to finals

Category prizes can be won at this stage


11/19

2011

Round 3: Finals

6 Finalists present during Farley Center Annual

Summit

10 minute presentation, 5 minutes Q&A

Presentations are in front of a live audience

Awards announced after deliberation

You are not obliged to start a company if you

win, but are given resources to start


12/19

2011

Confirmed Final Judges

Mr. Bob Shaw, Med. Tech. Entrepreneur,A

ngel InvestorMr. Larry Levy, Entrepreneur, Levy Restaurants

Mr. Gary Dollinger, Adalyze

Mr. Adam Koopersmith, NewWorld Ventures

Mr. Ben Slivka, NU Trustee, Social Venture Partners

Dr. Dan Watkins, Managing Director, DFJ MercuryMr. Kenneth Jones, Fusion Ventures

Mr. David Schonthal, Fusion Ventures

Mr. Peter Prommer, Nixon Peabody

Mr. Troy Henikoff, CEO, Excelerate

Dr. Michael Peshkin, NU Mech. Eng. Faculty

Mr. Walter Herbst, Herbst LaZar Bell Inc.


13/19

2011

Competition Eligibility Rules

1. A team can be between 1 and 10 people.2. At least half the members of the team must be current

Northwestern University students.

3. Alumni can enter, provided the previous rule that half of the

members are current Northwestern students is met.

4. Team members can change over the course of the competition aslong as the above criteria are still met.

5. Students can be part of more than one team.

6. A student or team can enter multiple ideas.

7. No idea that has previously won first place in any other Venture

Plan competition can be entered into NUVC unless there havebeen significant changes to the business plan.

8. Ventures that have received outside investment from venture capitalfirms, private investors, or industry sources are considered ineligible

to compete.


14/19

2011

Competition Eligibility Rules Cont

9. While a professor can be part of a team, the idea cannot be theprofessor's own research.

10. Business idea must be original work of the team members, who must have

all right, title and/or interest in it.

11. Regardless of the idea's origins, the majority of idea development must

be done by Northwestern students.

12. NUvention Students: Medical Innovation class can enter NUVC, but a

maximum of one idea from this pool will be entered into the Finals.

13. ENTR 462 Students: Can participate in NUVC but cannot present the

same venture developed in the ENTR 462.

14. In order to be eligible for the Best Undergrad Pitch, all members of the

team must be Undergraduate students.

15. All judges' decisions regarding eligibility are final.


15/19

2011

Intellectual Property

Access to submitted abstracts is only granted

by NUVC to the members of its judging panel,

lead organizers, and IT team

We urge you to confirm with appropriateadvisors or legal counsel that any intellectual

property described in your plan is protected

The semifinal and finals rounds are publicdisclosures


16/19

2011

NUVC 2011 Sponsors

Robert E. and Charlene H. Shaw


17/19

2011

Additional Information

Web: http://nuvc.innuvation.org/

Email: [email protected]

NUVC 2011 Steering Committee

Gali Baler, InNUvation Co-President and NUVC Director

Rachit Kumar, NUVC Operations Director

James Sbarboro, NUVC Marketing DirectorJohn Brundage, InNUvation Technology Director


18/19

2011

Available Leadership Roles

Talk to me after the presentation if you are

interested in leadership roles with InNUvation or

with the NUVC Steering Committee

Questions?


19/19

2011

Applied Research Day

When:Wednesday, March9th, 2011 from 1-5:30 PM

Where: Silverman Hall &

Pancoe Auditorium

Find out more at ard.innuvation.org

Present your research and learn about other research.

Interact with entrepreneurs and venture capitalists to learn how to turn

your research ideas into a viable business.

Meet entrepreneurial students from all disciplines at NUAssemble your team for the lucrative NUVC competition.

nuvc kickoff 2011

Documents