BOSTON, April 1, 2022 /PRNewswire/ — Over the past 25 years, the Harvard Business School New business competition (NVC) has provided a forum for founders trying to solve some of the world’s toughest business problems. Student and alumni founders refine their ideas by giving presentations, receiving feedback from established and experienced investors and entrepreneurs, and ultimately competing for cash prizes and support services . The winners of this year’s landmark competition were announced at the Thursday, March 31stFinal event spectacle, exhibiting the same promise and hope for the future as those that came before them.
The 20 finalist teams of students and alumni pitched for a share of the $315,000 in cash as well as in kind. The top four teams from each of the three tracks—Student Enterprise, Student Social Enterprise, and Alumni—went through a multi-round judging process and competed for second place and the grand prize. Viewers were also given the opportunity to select an audience favorite from each of the three tracks, with a prize value of $5,000. In a separate process that recognizes the unique challenges of companies bringing cutting-edge technology to market, these early-stage but long-developing companies competed for the $10,000 Rugged Technology Award.
“Entrepreneurship is an integral part of the HBS experience because it gives students and alumni a chance to create a product or service that can bring about real change,” said HBS Dean Srikant Datar. “I am proud that the legacy of NVC is not only felt by the people who have competed there over all these years, but also by the impact of their companies on the business world and on society as a whole. “
The NVC is open to all students and alumni who are starting new ventures and social impact ventures. Schools Arthur Rock Center for Entrepreneurship and his Social Enterprise Initiativein partnership with HBS Alumni Clubs and Associations, organizes the annual competition. This year, 295 teams took part in the virtual competition: 117 in the student company sector, 48 in the student social enterprise sector and 130 in the Alumni sector. Since its inception in 1997, there have been over 6,700 participants and over $3 million was awarded to the winning teams.
“The NVC is the flagship event of the entrepreneurial journey at HBS. Over the past 25 years, the NVC has allowed us to support our students and alumni on the arduous journey of building a successful business,” said declared Jodi Gernon (MBA 1991), director of the Arthur Rock Center. “Winners and entrants continued to raise more than $21 billion and created more than 15,000 jobs in sectors as diverse as healthcare and biotechnology, technology, fashion and consumer products, and rugged technology. NVC really reflects the entrepreneurial spirit at HBS.”
“In a world clamoring for solutions to environmental, health, racial equity, and other social issues, the NVC’s social enterprise track is a beacon of hope as able and energetic students everywhere Harvard bring new ideas and new models to deal with these crises,” said Rob Zeaske (MBA 2002), director of the Social Enterprise Initiative. “NVC’s 25th anniversary is a celebration of a generation of bold students and their solutions and a guide to what is possible.”
In addition to $325,000 in cash prizes, sponsors donated tools and in-kind services that will help startups get started and grow. In-kind sponsors are AWS, Baker for Business, Bubble, CASE Smart Impact Capital, Foley HoagHarvard Innovation Labs, HubSpot for startups, MixPanel, Startup Partners.
This year’s winners, illustrating leaders working to make a difference in the world, are:
Student business stream
The Dubilier Prize was created by new York and Londonprivate investment firm based in Clayton, Dubilier & Rice in 1998 in honor of their founder, Martin Dubilier (MBA 1952), to support entrepreneurship.
The Satchu-Burgstone Prize rewards Jon Burgstone (MBA 1999), Asif Sachu (MBA 1999), and Reza Sachu (MBA 1996), all the second prize winners of the 1999 competition with their plan for SupplierMarket.com.
The Dubilier $75,000 Grand Prize:
Coprata has developed non-invasive ways to easily, safely and discreetly monitor health while using the toilet. The technology is designed to treat gastrointestinal illnesses and monitor personalized wellness.
Team: Chase Moyle (MBA 2022), Chase Moyle (MBA 2022)
Satchu Burgstone $25,000 Second Prize:
Faced with a problem that all surgeons have faced for decades – fluid (blood) buildup that prevents efficient and safe tissue dissection – the ClearCut Surgical team prototyped a simple solution to the problem: a combination device dissection and aspiration.
Team: Alex Yang (MBA 2023), Heung Kim
Student social enterprise stream
The Sacerdote Awards were originally created in 2003 by Pierre M. Sacerdote (MBA 1964) to encourage more HBS graduates to become involved in social enterprises and to support their efforts.
Pierre M. Sacerdote $75,000 Grand Prize:
Cashex creates services to make life easier for African migrants by offering seamless digital banking services that enable people in the United States send money to their family with no transaction fees.
Team: Kingsley Ezeani (MC/MPA 2022), Scott Morgan
Pierre M. Sacerdote $25,000 Second Prize:
Feather is a new way for patients to navigate their pain journey through proven treatments, personalized coaching and a supportive community.
Team: Kirsten Soong (MBA 2022), Mariya Rivkin(MBA 2022), Daniel Navaro
Trail of the ancients
$75,000 Grand Prize:
Fleetzero is building a fleet of electric vessels to deliver goods to our customers without a green premium.
Team: Steven Henderson (MBA 2016), Michael Carter
$25,000 Second Prize:
Collective Academy is the premier university focused on transforming the future of Latin America by connecting recognized business and technology professionals with future high-impact decision makers.
Team: Patricio BicharaMBA 2015
Rugged Technology Award
This is the third year that the Tough Technology Prize, sponsored by the Rock Center in collaboration with the HBS Digital, Health Care, Business and Environment initiatives, recognizes companies working on transformative technology that solves the world’s most important challenges through to the convergence of science, engineering and revolutionary leadership.
Carbon vacuum cleaner
Carbon Vacuum sucks CO2 from the air to prevent our Earth from burning and melting.
Team: Aaron Sabine (MS/MBA 2023)
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