New Venture Challenge | Social Impact Prize
Social Impact Prize Winners
takes home the 2016 New Venture Challenge Social Impact Prize!
With their innovative prototype and business plan to make research in outer space and low earth orbit more financially accessible to scientists and researchers, the Space Research Company wowed and wooed audience members and investors at the 2016 NVC Social Impact Prize pitch event.
The design, a lightweight cube, will hold specially made testing environments that transmit real-time data to researchers on Earth. The cube can be easily attached to high-altitude weather balloons and larger rockets on other missions, making it significantly more affordable than the current process of bidding for scarce research space on the International Space Station.
Investors and Attendees
On Tuesday March 29th, the five top tier finalists for the Social Impact (SI) Prize, selected in a mid-March preliminary round, delivered pitches to a panel of investors in front of a community audience.
The investors included CESR Board Member and Co-Founder of Impact HUB Boulder Rich Hoops; Teju Ravilochan, Co-Founder and CEO at the Unreasonable Institute; and Pete Dignan, President & COO. Each pitch was concluded with a series of questions from the investors to further illuminate the social benefits of proposed ventures and clarify specifics on business functions.
Also in attendance were was a large contingency of students and community members including MBA candidates from CESR Instructor David Payne’s Topics in Sustainability course.
Competing Teams
1. The Space Research Company – working to make biological research in space more accessible
2. Hive Tech – Using monitoring & management technology to mitigate bee population decline
3. Skyive – Simplifying the scholarship process by better connecting students & administrators
4. Brite Box – Refugee integration centers for children teaching language & cultural skills
5. Off The Wall Language – App & activity-based language curriculum for children
What is The Social Impact Prize?
The Social Impact Prize SI Prize is a specialized sub-competition within the New Venture Challenge rewarding competitors whose business ideas promise significant societal benefit with $3,500 in seed funding, a one-year membership at Impact HUB Boulder, and a spot in the final round of the New Venture Challenge at-large. The prize is organized and supported by the .
What is the New Venture Challenge?
The is a cross-campus business plan competition. In its seventh year, the NVC provides an experiential adventure in entrepreneurship for CU students and members of the Boulder community.