Young entrepreneurs across Nebraska will have a chance to get their business ideas off the ground with help from the state.
The inaugural Nebraska Governor’s New Venture Competition was announced by Governor Jim Pillen Tuesday. The initiative provides students an opportunity to develop and pitch their own business ideas. The top three finalists will then receive financial awards next year to jump start their ideas.
The announcement was made from Hudl’s international headquarters in Lincoln.
“Business plan competitions were a key accelerant in Hudl’s early days. The application process forced us to get our plans and models down succinctly on paper. The questions asked and the holes poked by judges helped us refine our model and address its weaknesses,” explained Hudl CEO David Graff.
The Nebraska Governor’s New Venture Competition also features a mentoring component. The state’s ecosystem of startup founders, funders, and service providers will support the young teams through judging at the competition, as well as provide general technical assistance.
The competition is designed for student-led businesses at the ideation and pre-seed stages. Students must be undergraduate or graduate level and attending a Nebraska post-secondary educational institution at the time of application. Applicants must designate how their business falls into one of the seven industry tracks:
- AgTech
- FinTech/InsurTech
- CleanTech
- Advanced Manufacturing
- BioTech
- Emerging Media Arts
- SportsTech
The very first applications to the program are now being accepted online at: negovnewventure.com. The deadline is Dec. 1.
Semi-finalists will participate in a virtual pitch competition later in December. From there, six to eight teams will be selected to give an in-person presentation to judges on the afternoon of Feb. 1, 2024. The Nebraska Governor’s New Venture Competition finals will be held in conjunction with the Nebraska State Chamber annual meeting. The top three finalists will receive prize awards of $20,000, $15,000, and $10,000.