New Venture Competition

When is the registration due?
Registration typically closes in late March. Check the registration form and the top of this page for the current year’s deadline.
 

Does each member of the team need to register?
No. Only one team member should complete the registration form. That person will provide contact information for all teammates.

All communications from the Center for Entrepreneurship will include everyone listed on the registration.
 

Will I receive a confirmation of my registration?
Yes. You’ll receive an immediate confirmation email after submitting your registration. A final confirmation or notification will be sent once the competition bracket is finalized.
 

Does registration guarantee a competition spot?
No. Registration does not guarantee admission. The center typically receives more entries than available spots. 

Selection factors include:

• Clear, detailed business idea description in the registration form
• Participation in workshops or engagement with the center for assistance
• Enrollment in Center for Entrepreneurship–taught courses and discussion of your idea with faculty
   

Can I compete with an existing business?
Yes, as long as it’s a student-created, managed, and owned venture. Eligible ventures include those in idea development, seed, startup, or early growth stages. If your venture has revenue, you must report that and compete in that division. Failure to report revenue will result in an automatic cancellation and will affect future participation with the Center for Entrepreneurship. 

Teams that have previously placed in the New Venture Competition may be eligible for a new competition hosted by the Center for Entrepreneurship previously known as the Advanced Traction Bracket. The new competition will be a standalone competition for returning ventures held earlier in the semester. Learn more soon. 

What is the structure of the New Venture Competition?
The New Venture Competition is organized into three divisions — Idea, Prototype, and Revenue- plus a Wildcard Round. Preliminary Rounds are held March 29–April 1, 2027, with each division competing on its own assigned night. Finals are held April 5–8, 2027, followed by the Entrepreneur Awards Celebration on April 9, 2027 (time TBD). All events are held in Howard L. Hawks Hall.
 

Do I need to check in or can I just arrive at my presentation time?
Yes. All competitors must check in for each round before presenting. Schedules may shift and competitors should be prepared to present before their scheduled time.
 

Can friends and family attend?
Absolutely, spectators are welcome but must maintain confidentiality when observing other teams’ pitches.
 

Are meals provided on competition day?
Yes, meals will be provided at appropriate times.

Who can compete?
All current University of Nebraska–Lincoln undergraduate and graduate students are eligible. Alumni are not eligible to compete.
 

Is the competition for individuals or is it team based?
Either. Both individual entrepreneurs and teams are welcome.
 

Do all team members have to be students?
Not necessarily. Students must play a major role in conceiving and managing the business. For existing companies: at least 50% must be student-owned.
 

Are non-student team members allowed to present?
No. Only student members may present. Non-students may participate in planning and can help answer judges’ questions, but cannot present.
 

Does my division affect how I'm judged?
No division is judged as more or less important than another. Idea, Prototype, and Revenue teams are all evaluated on the strength of their venture at its current stage. Idea teams are not expected to show revenue projections or a working prototype, and are judged accordingly.
 

Why don't you know which night my division competes yet?
Preliminary Rounds run March 29–April 1, 2027, with one division competing per night and rooms targeted at four teams. Because the number of teams in each division isn't known until registration closes, we can't assign divisions to specific nights before then — doing so earlier could mean an uneven number of teams per room, which we want to avoid. 

As soon as registration closes, we finalize the schedule and notify every team of their division's assigned night, room, and time. Here's what you can count on either way: if your division competes Monday or Tuesday during Preliminary Rounds, you'll compete on that same night during Finals. The division with the largest field is split across both Wednesday and Thursday during Preliminary Rounds, but competes only on Wednesday during Finals — so if your division falls into that larger group, your Thursday prelim slot does not carry over to a Thursday finals slot; Wednesday is the night to plan around for Finals week.

Do I need to submit a business plan?
No. The registration form includes all required information for initial evaluation. You should work on a business plan, or specific aspects of it during your preparation for the New Venture Competition, but you do not need to submit it to the Center for Entrepreneurship.
 

Are resources available to help me prepare?
Yes. The Center for Entrepreneurship faculty and staff can assist with your business plan, pitch, and projections. Check the pre-competition workshop schedule for topic-specific sessions, or contact entrepreneurship@unl.edu to schedule a meeting.
 

How long is the pitch?
Each team has 10 minutes to present and 10 minutes for Q&A with judges. A 5-minute changeover follows each team's slot before the next team begins. After all teams in a room have presented, each team receives 15 minutes of individual feedback from the judges. These time limits are strictly enforced.
 

What should my pitch deck include?
Plan for 8-10 slides that fit within the 10-minute presentation. Teams are responsible for ensuring tech compatibility. For support, contact entrepreneurship@unl.edu.

How many times will I pitch?
Most teams pitch twice: once during Preliminary Rounds (March 29–April 1, 2027) and, if you advance, once during Finals (April 5–8, 2027). The division with the largest field is determined after registration closes and may involve additional rounds during Finals week given its larger size — teams in that division will be notified of their specific schedule along with their division assignment. Wildcard teams pitch during the dedicated Wildcard Round on Thursday of Finals week.
 

What technology is available?
Each presentation room includes:

• Computer with keyboard, mouse, speakers, projector, and clicker
• HDMI input (bring your own cords if connecting a personal device)
• Preferred pitch deck access method: cloud-based platforms such as OneDrive, Google Drive, or Canva
   

Can I have props?
Yes, but oversized, hazardous, or venue-restricted props require prior approval from the Center. For support, contact entrepreneurship@unl.edu.
 

Can I observe other teams’ presentations?
Yes, observing other teams is allowed. However, all participants must uphold confidentiality agreements.

How are teams scored?
The Center for Entrepreneurship works diligently to source outstanding judges and prepare them for our events. Each year, judges receive detailed rubrics, scoring guidelines, and recommendations to ensure fairness and consistency across all rooms.

Teams are evaluated on several key areas:

• Problem & Solution Fit – Does the team present a meaningful, well-defined problem and a solution that clearly addresses it with evidence of demand?
• Market & Business Model Strength – Does the venture demonstrate a clear target market, competitive advantage, and a credible plan for generating revenue?
• Financial Readiness & Use of Funds – Are the revenue/expense assumptions logical, and is the requested capital amount appropriate with a clear use of funds?
• Feasibility & Risk Readiness – Has the team identified realistic milestones and understand the key risks with a reasonable plan to address them?
• Team Capability & Leadership – Does the team have the skills, roles, leadership, and commitment needed to execute the venture?
• Presentation Quality – Was the pitch clear, engaging, well-structured, and delivered with confidence, including strong Q&A?

Judges score each area and may provide written feedback to help teams improve for future competitions.

Judges evaluate each team against the expectations of its division. Idea-division teams, for example, are not penalized for lacking revenue projections or a working prototype — they're assessed on the strength and clarity of the concept itself, consistent with the same equal priority given to every division in this competition.
 

Does the highest score always win the room?
Not always. While scores guide the process, judges often deliberate after all pitches to determine who advances. This approach is common at entrepreneurship competitions nationwide, including those hosted by UNL.

A team may have the highest numerical score but not be selected as the winner if judges collectively feel another team shows greater potential, stronger team dynamics, or better long-term execution. As the saying goes, “you’re not just betting on the horse—you’re betting on the jockey.”

The rubric structures fairness (the horse), but human judgment considers the jockey—the people behind the idea. Both matter. The Center for Entrepreneurship is committed to transparency and continuous improvement in how we share criteria and feedback so every participant feels their effort is valued and their work taken seriously.

Do I need to set up an LLC or business bank account before competing?
No. If you win a prize, you’ll need to open a business bank account to receive funds. Contact your bank for setup details.
 

How is prize money distributed?
Prize payments are made via check or direct deposit, depending on your team’s situation. Funds are paid to the business, not individuals, and must be deposited in a business account for business use only.