New Prizes Announced for 2018 Social New Venture Challenge (SNVC)

Students participating in the eighth annual John Edwardson, ’72, Social New Venture Challenge (SNVC) this year will have the opportunity to earn additional prize money to pursue their startups.

Offered in partnership with Chicago Booth’s Rustandy Center for Social Sector Innovation and the University of Chicago Polsky Center for Entrepreneurship and Innovation, the SNVC is the social impact track of the Edward L. Kaplan, ’71, New Venture Challenge, the university’s business launch program.

In addition to the $75,000 to be divided among the winning teams, the 2018 SNVC will feature three new prizes:

• $20,000 Early Childhood Award: Teams of students which develop an idea addressing issues of early childhood development and earn a spot in the SNVC finals can receive a $20,000 award to advance it. The prize is supported by the Renee Adelson Early Childhood Innovation Fund, established by Scott Adelson, ’87. 
• $10,000 GovTech Award: Teams of students which develop a govtech idea and earn a spot in the SNVC finals can receive a $10,000 award to advance their startup. This award is sponsored by CityBase, a company founded by Mike Duffy, ’12, that offers technology solutions to government agencies and utility companies.  
• $10,000 Tata Centre for Development Social Impact Award for India, Instituted by Tata Trusts: An award of USD 10,000 will be given to a team of students who will develop an idea for a venture that addresses a socially relevant issue in India and advances it in India. The team does not have to be an SNVC finalist. The award can fund travel to/from India or expenses to pilot in India. This award is instituted by Tata Trusts and implemented by the Tata Centre for Development at UChicago (TCD).

The SNVC is open to for-profit and nonprofit startups with a social mission and a plan for financial sustainability. Seven finalists will compete on Tuesday, May 22 for prize money to further their social ventures.

The startup competition is the cornerstone of the Edwardson Social Entrepreneurship Program, which provides resources and programming to UChicago students, alumni, and faculty interested in launching social impact or environmental startups. The Edwardson Social Entrepreneurship Program was named in honor of UChicago Trustee and Chicago Booth alumnus John Edwardson, ’72, retired chairman and CEO of CDW.

The deadline to apply to participate in the 2018 SNVC is Thursday, February 1 at 10:00 a.m.

For details on eligibility requirements, key dates, and how to apply, visit the SNVC page.

To receive updates on upcoming SNVC events and other programs offered through the Edwardson Social Entrepreneurship Program, sign up here.