March 28, 2022
Cari Humphry
Twelve graduate startup teams across North America will compete this spring in the third annual Heartland Challenge, a competition designed to simulate the process of raising venture capital for a high-growth enterprise.
"The Walton College is proud to host this outstanding international competition face to face in Bentonville this year," said Matt Waller, dean of the Walton College and Sam Walton Leadership Chair.
"We are grateful for the generous support of the Walton Family Charitable Support Foundation and other sponsors across our region, who share our commitment to bolstering entrepreneurship in the Heartland."
This year's cash prize pool has grown to more than $110,000, with the overall winner collecting $50,000. The second place team will receive $25,000; third place, $10,000; and fourth place, $5,000.
New for 2022 is an Investor Roundtable event, sponsored by Cadron Capital Partners, that will provide $3,000 awards to the winners of each of three roundtable events. This event, held alongside the main competition, will engage the student founders in informal discussions with active investors, simulating the experience of meeting in a restaurant or airport without the benefit of formal pitch decks or other materials. Additional special awards will be provided by sponsors Delta Solar, Atento Capital, Wright, Lindsey and Jennings, Natural Capital, John Chamberlin and Cannon Capital.
First and second place winners in the elevator pitch competition — decided by an audience vote — win $3,000 and $2,000, respectively.
The final round of the main competition will be livestreamed. To receive a link to view the event, please register here.
Past winners have included technology startups focused on the music industry and improving cancer detection. Having competed during years of the competition that were held virtually due to COVID-19 restrictions, the founders of both companies will be in attendance this year to share their post-competition experiences and join in the Startup Expo.
Aurign, a music publishing startup from Georgia State University, took home first place in 2020, securing $50,000 for their idea of using blockchain technology to securely file music-publishing documents.
NurLabs, a graduate student startup team from the University of California at Los Angeles, won the 2021 Heartland Challenge. The team, which developed a patent-pending, non-traditional, non-invasive liquid biopsy platform to detect cancer earlier, used its winnings to expand the size and scope of a lung cancer study.
NurLabs founder Sumita Jonak said, "The Heartland Challenge is a gem. I'm incredibly honored that NurLabs was recognized and validated by the no-nonsense investor panels as a viable medtech company. It gave me the confidence to push onward."
The 12 semi-finalist teams include:
About the U of A Office of Entrepreneurship and Innovation: The Office of Entrepreneurship and Innovation creates and curates innovation and entrepreneurship experiences for students across all disciplines. Through the Brewer Family Entrepreneurship Hub, McMillon Innovation Studio, Startup Village, and Greenhouse at the Bentonville Collaborative, OEI provides free workshops and programs — including social and corporate innovation design teams, venture internships, competitions and startup coaching. A unit of the Sam M. Walton College of Business and Division of Economic Development, OEI also offers on-demand support for students who will be innovators within existing organizations and entrepreneurs who start something new.
"Startup" - Google News
March 28, 2022 at 12:16PM
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Student Startup Teams to Compete For $110000 Cash Prize Pool in U of A's Heartland Challenge - University of Arkansas Newswire
"Startup" - Google News
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