‘New Venture Challenge’ Entrepreneurship Competition Now Accepting Entries

The Palumbo-Donahue School of Business is hosting its annual competition to showcase compelling start-up ideas from aspiring entrepreneurs and provide participants with personal and professional development.

Cash and service prizes valued over $100,000 are at stake in this year’s Duquesne New Venture Challenge (DNVC) competition. Anyone in the continental U.S. is encouraged to apply.

The three-stage business plan competition, open to individuals and teams of 1-4 people, is accepting submissions through Monday, Nov. 15.

In Stage I, participants must submit a short description of their business idea along with a one-minute video “elevator pitch.” Cash prizes of $2,500, $1,500 and $1,000 will be awarded to the top three video pitches. The competition judges, who are regional entrepreneurs, executives and investors, will select up to 20 semi-finalist teams to move onto Stage II of the competition and receive service prizes worth approximately $20,000.

In Stage II, semi-finalists will have free access to Palo Alto’s LivePlan software, the world’s leading business plan software designed for entrepreneurs and small business owners. Semi-finalist teams must submit an executive summary, a five-page business plan and a five-minute video pitch.

Up to five teams will be selected as finalists. Finalists will submit a business summary, a 15-page business plan and a 15-slide PowerPoint presentation. Candidates will present their submission live and answer questions from a panel of judges. Cash prizes totaling $35,000 will be distributed to the finalists. Additionally, finalists will receive service prizes from the School of Law, Small Business Development Center and Palumbo-Donahue School of Business.

“The DNVC is a powerful vehicle to help entrepreneurs sharpen their skills and advance their business models,” said Dr. Michele Migliuolo, executive director of the Center for Excellence in Entrepreneurship. “We are committed to empowering and inspiring entrepreneurs to pursue bigger goals and help create a better world.”

Details on the 2021 New Venture Challenge’s rules and regulations are available online. For more information or if you have questions, call 412.396.2538 or email Michele Migliuolo.