2013 NV Competition is looking for Big Ideas and Great Teams from all over Europe! [SUBMISSION PERIOD FOR 2013 CLOSED]
$50,000 cash prize to the winning team and
$25,000 second prize.
Harvard Business School's Arthur Rock Center for Entrepreneurship and the Office of Alumni Relations are pleased to announce the second annual Alumni New Venture Competition (NVC). With over half of HBS alumni classifying themselves as entrepreneurs at some point in their lives, this Contest is designed to shine a spotlight on alumni ventures, support promising new ventures and award a $50,000 cash prize to the winning team.
Local Contests will be held by participating HBS Alumni Clubs in 12 regions around the world.
Contest Rules & Submissions
The rules & requirements for entering teams are as follows:
Timeframe & submissions
Applicants / teams
- should carefully read the following criteria and information and
- write us a.s.a.p. a short informal e-mail with at least some very basic notes about the team and the business plan or the started new venture to nvc @ hbsgermany.de
- must submit their complete business plan / venture description (see criteria below) until February, 15 2013 to the same e-mail address and double-check that we really have obtained the submission, if not confirmed by return of mail.
Judging will take place in early March 2013, and the winners of the local rounds will travel to HBS for the Finals, to be held at HBS on April 29-30.
There will be one $50,000 first prize awarded to the winner. In addition, every finalist team will receive mentoring from an HBS faculty member prior to the judging, as well as participate in educational sessions through the Competiton and on campus during the Finals.
Teams/plans will be judged on the likelihood of creating a successful, significant new venture. This "Evaluation Sheet", which will be used during both the local and finals rounds, will give teams a better sense of the specific criteria. Note that investment funds and acquisitions will generally not be considered as "new ventures."
Teams must meet the following requirements:
- Each team must have at least one (1) HBS alumnus/a. The HBS alumnus/a needs to be a substantive member of the founding team, with a senior management and operating position and participation in the company's equity pool in a manner consistent with that role and position. At least one (1) of the HBS alumni must be among the group (of a maximum of two (2) team members) who appears in Boston and presents at the NVC Finals in April.
- Participating teams may not have raised/utilized more than $1,000,000 in total debt and equity capital, and must have less than $2,000,000 in revenues. It is not necessary that the teams actually be seeking funding. I.e., they may already have raised the small amount (less than $1,000,000) of capital they need to reach an initial milestone, or they may have a very cash flow positive business model that essentially requires no outside capital.
- All business plans should clearly articulate:
- The team members, their roles and backgrounds;
- The product or service, the customer needs it meets, and the market it will serve;
- The “business model,” e.g., how the company makes money; and
- Income statement, balance sheet and cash flow forecasts for at least three years, including a clear articulation of funding needs, the anticipated timing of funding events, and how these relate to the entity’s accomplishment milestones (e.g., what exactly will you achieve with each round of capital funding). Financing term specifics need NOT be articulated.
Registration and general information
For European applicants / teams, registrations will be accepted and managed exclusively by the HBS Association of Germany e.V.
Your contact: nvc @ hbsgermany.de
Further information about the NVC can be found at the HBS:
The HBS is also offering some NVC Webinars that can be found here, at HBS: