The New Venture Challenge (NVC) is a competition to start new ventures and market them. The competition offers six categories of business plans – food, beverage, medical, media and entertainment, services, and consumer goods.
What is the New Venture Challenge?
The New Venture Challenge is a competition to start new ventures and market them. The first prize is $10,000. The challenge is open to anyone, anywhere in the world. There are no restrictions on what type of venture can participate in or the size of the venture. All you need is an idea for a new business and a team of four people to execute it.
You can read more here about the new venture challenge competition.
The challenge begins with creating a pitch deck for your venture. This document should include information about your company, your innovation, how you plan to sell it, and how you will measure success. Next, you need to find investors for your venture. The easiest way to do this is through crowdfunding platforms like SeedInvest or Patreon. Once you have raised money from interested parties, it's time to build your product and launch it into the market.
How You Can Enter The Competition?
If you're looking to start a new business and get started quickly, the New Venture Challenge is the perfect competition for you. The challenge is open to anyone in the U.S., and it consists of three stages: ideation, development, and launch.