Charlotte Venture Challenge $100,000 Business Plan Competition Applications Due February 29
The Charlotte Venture Challenge business innovation competition, formerly known as Five Ventures, is accepting applications, and for the first time, prize money to be awarded to the winning companies will top $100,000!
- Charlotte-Gastonia-Rock Hill, NC-SC (1888PressRelease) January 18, 2012 - The Charlotte Venture Challenge business innovation competition, formerly known as Five Ventures, is accepting applications from early-stage entrepreneurial companies between now and Wednesday, February 29 at 11:59 p.m. The Charlotte Venture Challenge is the region's premier business plan competition, organized by UNC Charlotte's Charlotte Research Institute and The Ben Craig Center. For the first time, prize money to be awarded to the winning companies will top $100,000.
Judged by top business leaders including some of the area's most successful entrepreneurs, angel investors and venture capitalists, winning companies will be chosen in six categories of competition: 1) New Energy & High Tech, 2) IT & Informatics, 3) Life and Biotech Sciences, 4) Consumer Products and Services, 5) Student Ventures and 6) Social Enterprises. Student Ventures must be operated by students enrolled in community colleges or four-year institutions.
In its 11th year, the Charlotte Venture Challenge has been renamed to encompass a broader mission: to establish a nationally significant competition that accelerates the growth of scalable new ventures in the Charlotte region and builds recognition of Charlotte as an innovation center. "The Challenge has launched a number of significant companies in its history," said Paul Wetenhall, president of the Ben Craig Center. "Our new sponsors and increased prize money are indicative of the accelerating activity and growing support infrastructure that the entrepreneurial community enjoys in the Charlotte region."
The competition includes a series of five workshops for registered firms beginning on Wednesday, February 1. Over the course of three months, participants will learn about opportunity assessments, receive mentoring and connect with other entrepreneurs. The high-stakes finals and awards will be held on Thursday, April 19.
To apply, visit www.charlotteventurechallenge.com. For additional questions, contact Devin Collins at (704) 250-5753 or devin.collins ( @ ) uncc dot edu dot
*Past Competitors Continue to Succeed:
YAP Inc., a 2006 Five Ventures, now Charlotte Venture Challenge (CVC) competitor, was sold to Amazon in Fall 2011 for an undisclosed purchase price. Founded by brothers Victor and Igor Jablokov, YAP is a technology startup that developed an advanced cloud-based mobile speech recognition platform. "Five Ventures allowed us to publicly test an idea for a new enterprise and gauge the public's reaction to it. Thanks to the positive reception at the event, we were able to find our first investor and board member, quickly complete a financing process and launch our company," stated brothers Jablokov.
SoyMeds Inc., winner of the 2006 Five Ventures (CVC) and a UNC Charlotte Biology Department spin out, was recently announced as the winner of the life sciences company award by the North Carolina Technology Association (NCTA). NCTA conducts North Carolina's most prestigious statewide technology awards program, recognizing companies and individuals who have characterized excellence, innovation and leadership in 21 categories.
Infosense, a 2010 Five Ventures (CVC) competitor, and MailVu, the 2011 winner, were both awarded grants from NC IDEA in Fall 2011. NC IDEA recognizes promising technology companies in North Carolina with grant awards up to $50,000.
About Charlotte Venture Challenge
In 2001, the Five Ventures Business Innovation Competition was founded with the goal of helping early-stage UNC Charlotte businesses grow. Since those early days and through the support of UNC Charlotte's Charlotte Research Institute, Office of Technology Transfer and Belk College of Business sponsors, service providers and a number of dedicated partners, the competition has grown into a region-wide economic development competition attracting companies from all over North Carolina, South Carolina, Virginia and Tennessee. Since the first competition, over 100 start-ups have made it to the finals where experts from our community have mentored them. Alumni companies have gone on to raise over $40 million in venture capital and have continued to gain national and international attention. The contest name was changed in 2012 to the Charlotte Venture Challenge.
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