GW New Venture Competition to Kick Off Thursday

Contest, formerly the GW Business Plan Competition, teaches students from across the disciplines how to pitch and structure successful startups.

September 9, 2015

2016 GW New Venture Competition

The GW Business Plan Competition is now the GW New Venture Competition.

The change highlights the competition’s adherence to the LEAN startup approach, which emphasizes consumer feedback and adaptability over traditional static business plans.

“One of the goals of the name change is to toss away the misconception that in order to be a successful entrepreneur, you have to have a background in business or engineering,” said Lex McCusker, director of the New Venture Competition. “We believe the teams who perform the best have what we call a ‘dream team’—diverse members able to perform different roles.”

This academic year’s competition will be the eighth. In 2015, the contest had more than 200 participants and awarded more than $200,000 in cash and in-kind gifts. The MEANS Database, a searchable web-based database that lets member food pantries and suppliers share information about specific product needs and surpluses so they can avoid waste, was the first social entrepreneurship venture to win.

The 2016 New Venture Competition will kick off this Thursday at 5:30 p.m. in Marvin Center 308 with an overview of events and workshops. Students also will have an opportunity to win $100 for the best quick pitches of the evening.