Now in its 31st year, the New Venture Championship (NVC) returned to an in-person format this year, holding its final round of competition on April 29-30 at the University of Oregon's Portland, Oregon, facility.
The eight teams selected as this year's semifinalists were selected from a large pool of applicants hailing from across the United States and Canada.
After two days of competition, the Lundquist College of Business is pleased to announce the winners of the 2022 New Venture Championship.
2022 New Venture Champion and Reinmuth Cup Winner
The 2022 New Venture Champion is KLAW Industries from the State University of New York at Binghamton. They will receive $20,000 to launch their venture. KLAW Industries processes glass sent to landfills into Pantheon™, a cement replacement for concrete which allows ready-mix concrete plants to increase their product's compressive strength while decreasing embodied carbon.
LymphaSense from Johns Hopkins University placed second and will receive $10,000 for their endeavor. LymphaSense’s wearable monitor is revolutionizing the way that breast cancer patients are monitored for signs of lymphedema, a debilitating condition that can occur after breast cancer surgery. Used in clinics and prescribed by cancer surgeons and oncologists for at-home screening, LymphaSense seeks to improve the lives of breast cancer survivors by enabling patients to monitor their body’s reaction to cancer treatment.
In addition to the grand prizes, Beam Commerce from the University of Waterloo and Peko Produce from McGill University each received $2,500 as finalist runners up. Beam Commerce builds next generation software for independent eCommerce stores. Its apps help with upselling, store design, order tracking, and more. Peko Produce is on a mission to fight food waste and promote access to affordable, healthy food by delivering “imperfect” or surplus fruits and vegetables to consumers at up to 40% off grocery prices.
Best Written Business Plan
Peko Produce from McGill University was presented with the award for best written business plan and $1,500.
Elevator Pitch Award
LymphaSense from Johns Hopkins University placed was awarded the elevator pitch award and $1,500 for their performance during the elevator pitch session.
Sustainability Award, Presented by Riff Beverages
KLAW Industries from the State University of New York at Binghamton took home the sustainability award and accompanying $2,000. The sustainability round required teams to present social and environmental sustainability components of their ventures. Judges evaluated each team based on its venture’s potential positive impact and its viability to launch and grow.
On behalf of the participants, faculty advisors, and staff of the 2022 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.
We also extend our thanks and congratulations to all of the 16 teams who joined the competition this year, as well as all of those who applied. Their innovative ideas and drive to make the world a better place will take them far.
If you missed out on watching the week's activities live, each event is available for viewing on the UOBusiness YouTube channel.
Watch the Recordings
—Amanda Miner, Lundquist College Communications