NUVC KICKOFF

March, 7th 2011

NUVC Overview
• 5th Northwestern University Venture Challenge
• University-wide business idea competition
• Goals:
– Promote and support entrepreneurship and creation of new
ventures at NU
– Enhance collaboration
and exchange of ideas
– Provide startup capital
and establish credibility

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5 Submission Categories
Used for abstract assignment, special awards, and
business diversification

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

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NUVC Details
1st Prize
$12,000
2nd Prize Best Green Energy/Sustainability, $1200
$6,000 Best Nanotech/Healthcare, $1200
3rd Prize Best Social Media, $1200
$2,400 Best Undergrad, $1200

3 Competition Rounds:
– Abstract Deadline March 25th, 2011
– Semifinals Elevator Pitch April 25th, 2011
– Finals Presentation May 23, 2011

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Key NUVC Dates
• Monday, March 7th, 2011 : NUVC Kickoff

• Friday, March 25th, 2011 : Abstract Round 1

– Team registration and abstract submission deadline
– Midnight deadline for submissions

• Wednesday, April 13th, 2011 : Semifinalists Announced

• Monday, April 25th, 2011 : Semifinal Round 2

– Elevator pitch – 3 minute presentation + 4 minute Q&A

• Monday, May 23rd, 2011 : Final Round 3

– NUVC Final – 10 minute presentation + 5 minute Q&A

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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

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Judging Criteria
• Creativity and innovation involved in the business concept
• Likelihood of business success
• Stage of idea development
• Knowledge of the product/service and its market
• Growth potential and capability to become market leader
• Sustainability of the business and competitive advantage
• Capital needs and rationality of the financing strategy

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NUVC Team Progression

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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 expertise
in 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

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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

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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

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Confirmed Final Judges
Mr. Bob Shaw, Med. Tech. Entrepreneur, Angel Investor
Mr. Larry Levy, Entrepreneur, Levy Restaurants
Mr. Gary Dollinger, Adalyze
Mr. Adam Koopersmith, New World Ventures
Mr. Ben Slivka, NU Trustee, Social Venture Partners
Dr. Dan Watkins, Managing Director, DFJ Mercury
Mr. 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.

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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 as long 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 have been significant
changes to the business plan.
8. Ventures that have received outside investment from venture capital firms,
private investors, or industry sources are considered ineligible to compete.

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Competition Eligibility Rules Con’t
9. While a professor can be part of a team, the idea cannot be the
professor'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.

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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 appropriate
advisors or legal counsel that any intellectual
property described in your plan is protected
• The semifinal and finals rounds are public
disclosures

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NUVC 2011 Sponsors
Robert E. and Charlene H. Shaw

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Additional Information

Web: http://nuvc.innuvation.org/
Email: innuvation@gmail.com
NUVC 2011 Steering Committee
Gali Baler, InNUvation Co-President and NUVC Director
Rachit Kumar, NUVC Operations Director
James Sbarboro, NUVC Marketing Director
John Brundage, InNUvation Technology Director

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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?

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Applied Research Day
When: Wednesday, March
9th, 2011 from 1-5:30 PM

Where: Silverman Hall &

Pancoe Auditorium

•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 NU
•Assemble your team for the lucrative NUVC competition.

Find out more at ard.innuvation.org

2011