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New business plan competition from UChicago focuses on alumni


By Jesse Schwartz
Published: October 25th, 2018

The University of Chicago is launching a new version of its popular business plan competition to include graduates of the university.

The New Venture Challenge, started 22 years ago, has a number of offshoots, including competitions for undergrads, for socially focused start-ups and for executive MBA students. This latest iteration was inspired by a business plan challenge for alumni of the Harvard Business School.

“Some of our alums heard about it and said we should do it,” says Mark Tebbe, an adjunct professor at UChicago’s Booth School of Business who has served as a judge and mentor for the New Venture Challenge.

“We often see our students graduate from the university and jump right into great careers in consulting, public policy or a variety of other industries,” says Starr Marcello, executive director of UChicago’s Polsky Center for Entrepreneurship & Innovation. “These alumni then use this experience to start their own companies five to 10 years out.”

The New Venture Challenge for Booth alumni will have regional competitions in Chicago, New York, San Francisco, London and Bangalore, India. The final contestants will compete in Chicago in May.

Source: Crain’s Chicago Business

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