NVC Applications Close Feb. 9

Applications for the first round of the George Washington University's 2025 New Venture Competition (NVC), a nationally recognized event for student entrepreneurship and innovation, are open until 11:59 p.m. on Sunday, Feb. 9.

Started in 2009 by the Office of Innovation and Entrepreneurship and blossoming into one of the nation's most prestigious collegiate innovation competitions, the three-round NVC gives GW students, faculty and alumni a real-world experiential learning opportunity in entrepreneurship. In its 17-year history, the NVC has served more than 4,000 student entrepreneurs and awarded $2 million in cash prizes.

GW students are encouraged to apply as there is a competition track for every venture. For the second straight year, applicants can choose between five tracks: Consumer Goods and Services; Business Goods and Services; Healthcare and Life Sciences; Social Innovation; and the Explorer Track. Here is a broader look at each of the tracks:

• Consumer Goods and Services, encompassing everyday items that can be used by the typical consumer such as food, beverage, apparel, toys or jewelry. This is the best track if the intended customer of the product is an individual.
• Business Goods and Services, which is dedicated to selling products or services directly to other businesses such as large enterprises, the government or other startup companies. This is the best track if the intended customer of the product is a business.
• Healthcare and Life Sciences, which will be dedicated to solutions that improve an individual's care and outcomes, while also reducing healthcare costs and spending. This track would include ventures in the mental health, nutrition or biomedical industry.
• Social Innovation, including solutions focused on improving and sustaining the welfare and well-being of individuals or communities that can be for-profit, nonprofit or hybrid.
• Explorer, which will appeal to those students who may have less experience with innovation and entrepreneurship concepts but are curious to learn.

This year's NVC is focused on making things simpler with fewer deadlines and shorter applications, stronger with better-prepared teams and more opportunities to pitch and strategic planning to align with OIE's Lean Startup methodology, recognizing students utilizing OIE resources throughout the year while emphasizing a demonstration of critical thinking skills.

Here's how some of these new changes will look:

• New application requirements: Round 2 will now feature live virtual pitches via Zoom.
• Fewer teams advancing to Round 2: A total of 50 teams will move to Round 2.
• More teams advancing to Round 3: 20 teams will advance to Round 3.
• Explorer Track: Will consist of just two rounds, concluding with the top 3 winners at the end of Round 2.

"NVC is back, and we're so excited to see the submissions from the entire GW student community," said Interim Associate Vice Provost for Research, Innovation and Entrepreneurship Bob Smith. "We made some changes for 2025 that make applying easier than ever, and the competition offers more chances to pitch than previous years. Regardless of the stage of development of your ideas, NVC a great way get your startup started."

All applicants will receive feedback on their idea, in addition to OIE mentorship and help throughout the competition. Semifinalists will be able to refine their concepts by March 16. The final pitches will be April 9, while the awards ceremony on April 10 will be open to the public.