HomeGrown Farms receives first place prize at the 2016 NVC Finals
HomeGrown Farms receives first place prize at the 2016 NVC Finals

Cash Prizes will be awarded after the third (semifinal) round of the competition and after the fourth (final) round. In the semifinal round, only the top three finishers in each Track will receive money, and all three will advance to the final round.

Also, special prizes will be awarded to those teams who meet the specific criteria for one or more of the special prizes listed below. Teams can specify which prize(s) they'd like to compete for in their online application.

In the final round on April 19, 2018, the top four winners will win the Grand Prizes: $25,000 for first place, $15,000 for second place, $10,000 for third place and $5,000 for fourth place. The Audience Choice Award will also be awarded at final presentation event.

All decisions by the panel of judges are final.

Prize money will be distributed to the winning companies upon presentation of incorporation and ownership documentation.

Use of Prize Money

Prize money will be paid to the winning ventures and not to individual participants. Winning ventures may use the prize money for any legitimate business purpose.

GW makes no claim of ownership in the venture in return for any prizes awarded in the Competition.

Total Prizes

Cash Prizes

The GW New Venture Competiton will award $155,000 in cash prizes on April 19, 2018.

Special Category Prizes

In addition to the main cash prizes, participants can compete for additional prize(s), for which they can select in their online application. Ventures must meet the special category criteria for each prize that they apply for.

Blank Rome’s Best Undergraduate


Best Women's Venture


Quinn Prize for International and Social Entrepreneurship


Kulkarni Prize for Best Technology-based Venture


Best Medical Device Venture


Best Sustainable Infrastructure Venture Prize


Opportune LLP Clean Energy Venture Prize


Veterans Prize


AARP Foundation’s Older-Adult Focused Innovation


Audience Choice Award


Cash Prizes in the Semi-final Round

The top three finishers in each of the three tracks (New Ventures, Technology Ventures and Social Ventures will each be eligible for the cash prizes. 

Grand Prizes in the Final Round

Winners in the Final Round will receive: 

1st Place $25,000
2nd Place $15,000
3rd Place $10,000
4th Place $5,000
Honorable Mention (Divided Between Teams 5th - 9th Place) $25,000



In-Kind Prizes

The GW New Venture Competition will award over $140,000 of in-kind prizes in 2018.

Most of the in-kind prizes are awarded to teams that are selected by the judges. Some of the prizes are awarded by the sponsoring company.

In-Kind Prizes:

Blank Rome Legal Services

  • Awarded to at least three teams. Choice of legal services, which could include assistance with company formation, intellectual property (IP) protection, or other services to be agreed upon. Some conditions apply.  In addition, Blank Rome will do a general overview at no charge of a patent application that any team puts together.  They won’t re-write the application, but they will let the team know what sort of additional information they may want to include.
  • Valued at $15,000

AdvantEdge Workspaces

  • AdvantEdge Business Centers co-working space for 6 months. Awarded to one team of up to 3 people. Includes access to numerous other on-site business support services and amenities.
  • Valued at $13,000

Hera Hub DC

  • Prize: Full-time co-working membership for a team up to 4 for 6 months. Includes use of conference rooms and access to member events. 
  • Value up to $12,000

General Assembly

  • One "Web Development: Let's Break it Down" event for up to 50 competition participants on GA's campus (beginners overview of web development).  Valued at $1,750.
  • First place winners will receive a tuition credit of 50% towards one Part-Time GA course in 2017. Valued at $3,950.
  • All participants will receive a $25 credit towards any class or workshops at GA. Valued at $5,000
  • Total Value:  $10,700

Aveya Creative

  • Prize: Two winning companies will each receive $5,000 online certificate codes to use on any on-demand projects i.e. brand names, logos, taglines, websites, market strategies, founder workshops, pitch decks, etc. Winners may spend their prizes on one project or a combination and may spread spending through multiple transactions via the secure e-commerce platform. Certificate value does not expire but prices are subject to change.
  • Valued at $10,000

GenB MVP Development & Executiion Plan Support

  • Prize: Awarded to the team with the strongest digital concept in need of execution. The recipient will have a well thought out idea, in a strong market, with the right people and desire to make it happen.
  • The prize will include a strategic planning session to create an execution plan; the development of a minimal viable product (MVP) to run experiments with their target market; and recap of lessons learned to establish next steps on their roadmap. 
  • Total Value at $10,000 


  • Prize: A 2-person office for 3 months to the winner. In months 4-7 they will then have the option to stay in the space and have a slow ramp up in price (25% in month 4, 50% in month 5, 75% in month 6, and full price in month 7). 3 free months of Hot Desk space for the 2nd and 3rd place.
  • Valued at $8,940

College of Professional Studies / Virginia Science and Technology Campus

  • Prize: Co-working space for 6 months, awarded to one team, including cube/office space for up to four team members, access to high-speed internet/Wi-Fi, copier, conference room and exercise and cafeteria facilities onsite.
  • Valued at $8,000


  • Prize: MakeOffices Membership & Coworking Space for 6 Months.  Awarded to one team of up to 4 members. Includes 24/7 access to open desks in a shared workspace, monthly networking events, broadband internet access, conference rooms, and many more on-site amenities. The prize must be redeemed within 60 days after the finals of the GW New Venture Competition.  Current MakeOffices members are not eligible for this prize.
  • Valued at $7,600


  • Community membership to Refraction, which entails up to 4 weekdays in the office per month. The idea is to come to the office on average once per week to work, get connected with the community, and stay for any events as timing permits. The prize will also include up to 2 complimentary hours of meeting room time per team member per month (complimentary meeting room hours do not accrue - they expire each month). The winning team can redeem this prize starting any time before July 7, 2017 for a complete free 6-month tenure in Refraction, and the last day of this prize can be utilized will be December 29, 2017.
  • Valued at $4,600


  • Prize: One free month on the steady plan for each finalist.  Must be redeemed by September 30, 2016. 
  • Valued at $3,115

Eastern Foundry

  • Prize: 6 months of free membership for one team of up to 4 people. Prize must be accepted within 6 months of the award date.
  • Total Value at $3,000 

iStrategy Labs Custom Lab Consultation

  • Awarded to one team. A custom half-day ISL workshop that is composed of social media marketing strategy, design and engineering consultation, and more (pending team's needs).
  • Valued at $3,000

Social Driver Half-Day Pop-up Innovation Lab

  • One awarded team will win a consultation session with one of our four creative studios: Design, Development, Digital Content/Social Media, and Video Production. The studio selected will be up to the winner. We will help you work through yout marketing and technology goals and objectives and build out a strategy to help you reach the right people through social media, websites and video.
  • Valued at $3,000

Alley powered by Verizon

  • Membership for 3 months. Awarded to one team of up to 4 members. Includes 24/7 access, printing, room credits, events, mentor programs, broadband internet access, and many more on-sit amenities. The prize must be redeemed within 6 months after the finals of the GW New Venture Competition.
  • Valued at $1,260

99 Designs

  • Prize: Graphic Design Services. $400 towards graphic design services, such as a logo or business cards, for the top 3 teams.
  • Must be redeemed by April 20, 2019 (one year from when competition ends)
  • Valued at $1,200


  • SEED SPOT Evening Program for one team; The SEED SPOT Evening Program is designed for launch stage entrepreneurs. During the program, entrepreneurs gain access to our curriculum, receive support to work through the building blocks of their venture, gain access to mentors, and leave with a solid pitch. The SEED SPOT Evening Program is a great fit for entrepreneurs that have just started their journey in starting company or are thinking about starting a company.
  • Valued at $1,000

Marie Rudolph, Co-founder of the Military Bowl

  • Prize: Up to four tickets to the 2017 Military Bowl to the best veteran-focused team.
  • Valued at $500

2015 Veterans Award Winners