The Miller New Venture Challenge (NVC) is BYU’s campus-wide student startup competition. We put on three competitions during the year, in addition to an investor Showcase. Over the course of those competitions, we will award more than $145,000 in cash and more than $40,000 in in-kind prizes.
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Miller New Venture Challenge: From Idea to Execution
Our competitions and workshops follow the phases of the startup lifecycle. While each competition in the NVC is independent from the others (you don’t have to compete in one to qualify for the other), the competitions do build on each other. We begin at the idea stage and help students progress through business launch and growth.
Idea stage: The NVC Big Idea Pitch
The Big Idea Pitch rewards students for clearly articulating the core components of a business idea: (1) an observed problem or job to be done, (2) a market affected by the problem, (3) a proposed solution, and (4) the next steps (or steps already taken) to validate assumptions in their idea. Students compete for $1000 in cash prizes. Visit the Big Idea Pitch page to learn more.
Update: We held the Big Idea Competition on October 5. Thirty teams – out of more than 440 submissions – were selected to present. Each team had 60 seconds to pitch in front of their peers, faculty, and investors. Read how it turned out.
Model stage: The NVC Business Model Competition
The Business Model Competition rewards students for following the entrepreneurial process of identifying the assumptions in their idea, validating those assumptions in the market, and iterating based on what they learn. Students compete for $10,000 in cash prizes. Visit the Business Model Competition page to learn more.
Update: We held the Business Model Competition on January 25. Five teams out of more than 50 submissions were selected to present to a panel of judges. Read how it turned out (coming soon).
Launch stage: New Venture Challenge Final
The New Venture Challenge Final rewards students for demonstrating a deep understanding of their customers, proof that customers will pay for their product or service, and a clear roadmap for growing their business.
The deadline to compete in the New Venture Challenge Final is February 23. Students compete for $135,000 in cash prizes, plus more than $40,000 in in-kind prizes. Visit the New Venture Challenge Final page to learn more.
Execute and growth stage: The NVC Showcase
The eight winners of the New Venture Challenge Final are given at least $15,000 to work on their startups over the summer and given the opportunity to participate in BYU Launchpad – an immersive startup accelerator program. After the summer, they are invited to present to investors and Founders in the NVC Showcase.