Prizes

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.

This year's competition will have a slight change as all teams will now compete ONLY in their respective tracks (Technology Ventures, New Ventures, Social Ventures). There will be THREE winners total, one in each track. The overall grand prize winner of the 2019 GW New Venture Competition will be decided by the audience choice voting at the Finals event on April 18, 2019.

Prize Breakdown:

  • 1st place winners of each of the respective tracks (Tach, New, and Social) will each receive $20,000.
  • Teams that make it as part of the Top 9 Finalist Teams will each receive $5,000.
  • Audience Choice Winner will receive an additional $10,000.
  • Specialty prizes may be rolled up into the $20,000 1st place prize for each track. 

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

Special Category Prizes

In addition to the main cash prizes, participants can compete for an 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

$10,000

Fosun Undergraduate Social Venture
*May be counted towards 1st place prize winner

$10,000

Fosun Graduate Social Venture
*May be counted towards 1st place prize winner

$10,000

Fosun Health and Wellness Prize

$10,000

Fosun International Venture Prize

$10,000

Best Women's Venture

$10,000

Audience Choice Award

$10,000

Quinn Prize for International and Social Entrepreneurship

$7,500

Best Medical Device Venture

$7,500

Opportune LLP Clean Energy Venture Prize

$5,000

Veterans Prize

$5,000

AARP Foundation’s Older-Adult Focused Innovation

$5,000

Best Food & Beverage Industry Venture

$5,000

Most Innovative Food & Beverage Industry Venture

$5,000

Cash Prizes in the Semi-final Round

The top four finishers in each of the three tracks (New Ventures, Technology Ventures, and Social Ventures) will each advance to the Final Judging Round and be eligible for the cash prizes. 

Only the top three ventures in each track will be able to present their idea during the Finals. The fourth-place finisher in each track will receive $2,500 but will not advance to present at the Finals.

All semifinalists are eligible for the special category prizes.

Cash Prizes in the Final Round

The winners in each of the three tracks (New Ventures, Technology Ventures, and Social Ventures) will receive $20K each, and be awarded the winners in each track.

The second and third place teams in each track will receive $5,000 each. 

 

In-Kind Prizes

The GW New Venture Competition will award over $180,355 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:

Martin A. Schultz & Associates

  • Two in-kind awards of 50 hours of general and transaction counsel legal services which will include entity structuring, agreement drafting and transaction negotiating. Services can cover matters such as:
    • entity enabling and operating documentation (i.e., articles of incorporation, articles of organization, bylaws, limited liability company operating agreements, shareholders' agreements, etc.);
    • affiliate formation (i.e., subsidiaries, partnerships or joint ventures);
    • capital raising rounds;
    • financing agreements (i.e., working capital, expansion and acquisition financings);
    • employee hiring and management equity and non-equity incentive arrangements;
    • supply, manufacturing and representative agreements; and
    • consulting and work for hire agreements.
  • Valued at $42,500

1776

  • Membership for 6 months. Awarded to one team of up to 4 members. Includes 24/7 access, printing/copying/scanning, conference room space, exclusive member only event access, mentor programs, curated programming, FREE catered lunch two days per week, and many more on-site amenities. The prize must be redeemed within 6 months after the finals of the GW New Venture Competition.
  • Valued at $14,400

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

GenB Best Healthcare IT Concept in Need of Execution

  • Prize: Awarded to the team with the strongest healthcare IT concept in need of execution. The recipient will have a well thought out idea with the right people and desire to make it happen, but could use a technical push to make it a reality.
  • Should a nascent concept be selected, 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. Should a more established concept be selected, the prize will include configuration and a 1-year license for our hcdEX HIPPA compliant data exchange software service to connect the winner's application an EMR of their choice.
  • Total Value at $12,000 

Blank Rome Legal Services

  • Awarded to two 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 $10,000

Aveya Creative

  • Prize: Two winning companies will each receive $5,000 online certificate codes to use on any on-demand projects at Aveya Creative. Choose from logos, names and taglines, responsive websites, go-to-market strategy, ad creative, founder workshops, print design, pitch decks, social media engagement strategy and more. New concepts are added regularly. Winners may apply their prize codes to one project or a combination via the secure e-commerce platform. Certificate value will remain valide for one year from award date; please note that pricing and service offerings are subject to change within that period of time.
  • Valued at $10,000

Hatch Apps

  • Prize: Three free three-month trials for any semi-final teams wanting to create an app.
  • Total Value at $9,000 

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

MakeOffices

  • Prize: MakeOffices Membership & Coworking Space for 6 Months at our new Glover Park location.  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 2018 GW New Venture Competition.  Current MakeOffices members are not eligible for this prize.
  • Valued at $7,600

General Assembly

  • One team will receive a tuition credit of 50% towards one part-time course in 2018. Valued at $1,975.
  • All participants will receive a $25 credit towards any class or workshops at GA. Valued at $5,000
  • Total Value:  $6,975

Refraction

  • A full time community membership for up to four team members, allowing access to the space 5 days a week, with 2 hours of meeting room time. The winning team can redeem this prize starting any time before July 7, 2018 for complete free 6-month tenure in Refraction, and the last day of this prize can be utilized will be December 29, 2018.
  • Valued at $5,280

Inclusive Innovation Incubator (IN3)

  • Open desk membership for 6 months. Awarded to one team of up to 4 people. Includes:
    • Conference room use
    • Access to printing
    • Access to private booth for phone calls
    • Office hours with IN3 mentors
    • Free wifi
  • 1 on 1 "white board" tech solution session with IN3DC Founder, Aaron Saunders
    • 1 hour with the CEO of IN3DC and Clearly Innovation, Aaron Saunders
  • Valued at $5,150

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 $3,500

Cove

  • Prize: One free month on the steady plan for each semi-finalist team (approximately 60 people).  Must be redeemed by September 30, 2018. 
  • Valued at $14,340 ($239/month)

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 $9,600 

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

Spaces NoMa

  • The prize winner will be granted two months free for our membership service. The membership service allows 24 hour access to the space, gym access as well as several networking opportunities. Whether you're mind-mapping, meeting, collaborating or crunching numbers, the designer desks, tables, sofas, super-fast wifi and informal meeting areas provide the perfect place for every business need.
  • Valued at $1,400

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

  • SEED SPOT Launch Camp for one team: The SEED SPOT Launch Camp 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 Launch Camp 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

MassLight

  • Offering a 4-hour session of expert consultation on web or mobile application development, including product recommendations, best practices, and strategy.
  • Valued at $1,000

2015 Veterans Award Winners