After three days of competition, the Lundquist College of Business is pleased to announce the winners of the 2017 New Venture Championship (NVC).
The 2017 New Venture Champion is Intelligent Flying Machines from Northwestern University. In addition to winning the coveted Reinmuth Cup, they will receive $20,000 to launch their venture. Intelligent Flying Machines (IFM) is a data analytics company that uses machine learning, computer vision, and robotics to automate indoor data capture. With partners in industry and customers across automotive manufacturing and logistics, IFM uses technology to improve the operational efficiency of enterprises and unleash productivity in the workforce.
MITO Material Solutions from Oklahoma State University placed second and will receive $10,000 for their endeavor. MITO Material Solutions sells adhesive epoxy additives, which allow manufacturers to double the durability or significantly decrease the weight of composite materials used in the aerospace, recreation, and automotive industries.
In addition to the grand prizes, Integrated Extraction from the University of Michigan and Surface Mod from the University of Arkansas each received $2,500 as finalist runners up. NVC judges also awarded prizes to the following groups:
- Best Elevator Pitch ($1,500): Surface Mod, University of Arkansas
- Best at Trade Show ($1,500): BlueGreen, Hong Kong University of Science and Technology
- Best Written Plan ($1,500): Surface Mod, University of Arkansas
- Palo Alto Software Best One Page Pitch ($1,000): MITO Material Solutions, Oklahoma State University
- Sustainability Challenge Award ($1000): BlueGreen, Hong Kong University of Science and Technology
Teams that did not qualify for the final round participated in the Oregon Entrepreneurs Network Lightning Round. Four teams won their Lightning Round track and $1,500 each. These winners include Universal Prosthetics from the University of Iowa, acion from the University of Louisville, Tri-D Dynamics from Purdue University, and Pdvice from the Sasin Graduate Institute of Business Administration. The remaining teams were awarded $750 each as Lightning Round runners-up.
Previously for graduate students only, this year the weekend-long competition included undergraduate and high school students for the first time in its history. After taking part in a similar statewide competition, GobTech from Oregon State University took home the Undergraduate Business Concept Award and $1,500. University of Oregon team LittMitt—whose LED “Throw Your O” gloves debuted at the 2016 QuackCon and were selected for the Duck Store’s Oregon Incubator Program—came in second.
Also joining NVC for the first time were the finalists from the Young Entrepreneurs Business Week (YEBW) competition. Taking place at three Oregon universities—University of Oregon, Oregon State University, and University of Portland—YEBW is a summer program for high school entrepreneurs that culminates in a pitchfest. Of the three finalists, Kaheawai Kaonohi won the High School All-Stars Scholarship Award and was awarded $1,500 towards a University of Oregon or Oregon State University scholarship. Kaonohi, who conceived and debuted his business plan during the summer between his senior year of high school and freshman year of college, is now a Lundquist College pre-business student and vice president of the University of Oregon Entrepreneurship Club.
On behalf of the participants, faculty advisors, and staff of the 2017 New Venture Championship, we would like to express a heartfelt thank you to all of our judges. Their involvement enables NVC to consistently attract high-caliber ventures from around the globe, provide the finest engagement found anywhere, and supply teams with unparalleled advice and resources that will advance their skill sets and ventures.
View All of This Year's Competitors
