Applications for the first round of the George Washington University’s 2026 New Venture Competition (NVC), a nationally recognized, three-round, business model competition are open through Feb. 1.
Over its 18-year history, the NVC has served more than 4,000 student entrepreneurs and awarded $2 million in cash prizes, while providing GW students, faculty, staff and alumni a real-world experiential learning opportunity in entrepreneurship. All NVC participants receive feedback and mentorship that helps them turn their ideas into sustainable enterprises. The NVC process culminates with finalists pitching their business models to industry leaders. Winners will be announced at a final award ceremony event on April 23 at Jack Morton Auditorium.
New to this year’s competition is the Food Innovation Track–thanks to an exciting new partnership between the GW Office of Innovation & Entrepreneurship (OIE) and the Global Food Institute at GW (GFI). This new track supports ventures that seek to transform how food or beverages are cultivated, processed, produced, stored, distributed, consumed or upcycled/disposed. It welcomes mission-driven solutions that improve food security, nutritional quality, food safety, sustainability and/or affordable healthy food access through innovative products, services, technologies or business models. The new Food Innovation Track also marks the first time that regional and international universities will be invited to participate in NVC.
"This new collaboration with GFI marks an exciting new milestone in the evolution of NVC and OIE,” said Bob Smith, executive director of OIE. “Together we can demonstrate how the NVC program can help GW to better integrate its innovation efforts, while globally extending our reach.”
The Food Innovation Track is launching with philanthropic support, including from three GW Board of Trustees members—Todd Klein, Stacie Lissette and Ray Brimble—who believe in food innovation as a critical frontier for student entrepreneurship. Their investment reflects both enthusiasm for the NVC competition and recognition of food’s central role in global well-being.
“This track opens the door for students to innovate in an area that touches everyone—food and food systems,” said Trustee Todd Klein. “Pairing the NVC’s entrepreneurial energy with GFI’s mission creates an incredible opportunity for breakthrough ideas.”
Competitors in the Food Innovation Track are encouraged to demonstrate how their solutions advance a more sustainable, inclusive and resilient food system. This can mean reducing waste and improving environmental or supply chain efficiency. It can also include introducing healthier ingredient alternatives and expanding access to nutritious food in underserved communities.
“The Global Food Institute is committed to providing students—our next generation of food leaders—a first-class education and experience,” said Carbonell Family Executive Director of the Global Food Institute Stacey Dean. “That includes real opportunities to explore how innovation and entrepreneurship can help ensure everyone has access to healthy, affordable food. The NVC Food Innovation track is an exceptional chance for students to bring bold ideas for a better food future to life.”
The Food Innovation competition joins NVC’s four current vertical industry tracks: Consumer Goods and Services; Business Goods and Services; Healthcare and Life Sciences; and Social Innovation, as well as the Explorer Track, targeted at very early stage ideas. Here is a broader look at each of the tracks:
- Consumer Goods and Services, encompassing everyday goods and services sold directly to individual consumers.
- Business Goods and Services, dedicated to selling products or services directly to other businesses, such as large enterprises, the government or other startup companies.
- Healthcare and Life Sciences, which includes innovations that aim to improve health, extend life or enhance well-being through medical and scientific discovery, technology and service delivery.
- Social Innovation, which includes ventures that are mission-driven and focused on addressing critical social or environmental challenges aiming to improve lives and communities through scalable, sustainable impact–not just charitable intentions.
The two-round Explorer Track is a less intensive competition designed for students who are new to innovation and entrepreneurship and whose ideas are still forming or who are exploring ideas as part of a class project. This track offers a simplified application and judging process to encourage participation from those who may be just getting started. Results for the Explorer Track will be announced on March 20.
To learn about how to turn your idea into impact with NVC, check out the NVC website for application requirements, OIE support resources and past winners here. Applications close on Feb. 1 at 11:59 p.m.
