The Oregon New Venture Championship (NVC) returned for its milestone 30-year anniversary in an exciting new virtual format, allowing flexibility and accessibility for both competitors and viewers. With events spread out from April 19-23, attendees were able to join in on the action via online event platform HopIn.
One of the most well-known and highly-regarded business plan competitions, NVC draws student teams from around the world. This year’s competition included competitors from universities in Canada, Thailand, India, and Singapore. With such a large and varied applicant pool, each of our 16 semifinalist teams should be proud.
We’re pleased to announce the winners of the 2021 New Venture Championship:
The 2021 New Venture Champion and winner of the Reinmuth Cup is Molly Ally (Thammasat University). They will receive $20,000 to launch their venture. Molly Ally’s delicious premium plant-based ice cream will allow billions of lactose-intolerant individuals to live a “Heartier, Healthier, and Happier” life thanks to its zero cholesterol, low sugar, and diabetic-friendly recipe—as well as a reduction in dairy carbon dioxide emissions.
LiRA (University of North Carolina at Chapel Hill) placed second and will receive $10,000 for their endeavor. LiRA partners with patients and health systems to provide lip-reading technology that empowers voiceless individuals and advances quality medical care. LiRA is developing a next-generation artificial intelligence platform that recognizes specific facial motions associated with speech through a proprietary machine learning algorithm, allowing its platform to translate video data into audio.
In addition to the grand prizes, BioSeal XE (Oklahoma State University) and Leap Snacks (University of California, Los Angeles) each received $2,500 as finalist runners up.
The twelve teams that did not move on to the finals instead participated in the Lightning Round. Four teams won their Lightning Round track and $1,500 each. These winners include:
- Benegraft (Johns Hopkins University)
- JUNO (University of Oklahoma)
- ReNew Innovations (Sasin School of Management)
- SweatHeart (University of Waterloo)
Bank of America Sustainability Round
The Bank of America Sustainability Round required teams to present the social and environmental sustainability components of their ventures. Judges evaluated each team based on their venture’s potential positive impact and its viability to launch and grow.
- First place ($5,000): ReNew Innovations (Sasin School of Management)
- Second place ($3,000): Uniphage (Yale-NUS College)
- Runners-up ($1,000 each):
- EcoDabba Packaging Products LLP (Indian Institute of Technology Kharagpur)
- Transfoam (University of Virginia)
NVC judges also awarded additional prizes to the following groups:
- Best Elevator Pitch ($1,500): Leap Snacks (University of California, Los Angeles)
- Best Written Business Plan ($1,500): MyAutO2, LLC (University of Michigan)
On behalf of the participants, faculty advisors, and staff of the 2021 New Venture Championship, we would like to express a heartfelt thank you to all of our sponsors and volunteer judges. Without you, NVC truly would not be possible, and we are tremendously grateful for your support.
If you missed out on watching the week's activities live, each event is available for viewing on our YouTube playlist.
Watch the Recordings
—Amanda Miner, Lundquist College Communications