The competition will encourage student-led entrepreneurship in Nebraska and provide university and college student entrepreneurs with an opportunity to receive a share of $45,000 in prize money.
Nebraska Governor Jim Pillen announced the 2nd Annual Nebraska Governor’s New Venture Competition. The competition celebrates and encourages student-led entrepreneurship and innovation in Nebraska.
“When we dream of what’s next for Nebraska, our young people already know the way. They can envision the future and what technological advancements will help us get there,” said Governor Jim Pillen. “This year, we’re including a new category for submissions that help feed the Nebraska BioEconomy Initiative. I’m excited to see what projects the students develop and how we can help make them come to fruition.”
The competition will provide a meaningful learning experience for undergraduate and graduate students who are interested in pursuing an entrepreneurial opportunity now or at some point in their careers. The Nebraska startup ecosystem of startup founders, funders, and service providers will support these young teams through judging at the competition, mentorship, and general technical assistance.
“As the inaugural winner of the Governor’s New Venture Competition this year, Privy AI continues to build our AI scribe software to help physical therapists save a couple of hours a day of note-taking,” said Tan Phan, co-founder of Privy AI. “We are extremely fortunate to build this AI solution in Nebraska’s growing entrepreneurial ecosystem with university, state, and private resources.” Privy AI was founded by two undergraduate students at the University of Nebraska-Lincoln Jeffrey S. Raikes School of Computer Science and Management.
The Governor’s New Venture Competition is designed for student-led businesses at the ideation and pre-seed stages. Students must be undergraduate or graduate students attending a Nebraska post-secondary educational institution at the time of application. Applicants must designate how their business falls into one of the eight industry tracks: Agtech, Bioeconomy, Fintech/Insurtech, Cleantech, Advanced Manufacturing, Bio/Healthtech, Emerging Media Arts, and Sportstech. Students must apply by December 15, 2024 through the competition’s website: www.NeGovNewVenture.com. Selected semi-finalists will participate in a virtual pitch competition later in December, and six to eight teams will be chosen to pitch in person to judges the afternoon of January 30, 2025. The 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.
“Career opportunities in Nebraska are increasingly being created by local entrepreneurs,” said K.C. Belitz, Director of the Nebraska Department of Economic Development. “The State is committed to encouraging this homegrown economic development by creating an ecosystem where entrepreneurs can thrive. The Governor’s New Venture Competition provides Nebraska’s students with a forum to showcase their ingenuity and take their business ideas to the next level.”
The Governor’s New Venture Competition is being led by the Nebraska Department of Economic Development, the Nebraska Chamber of Commerce & Industry, Nebraska Public Power District, and Invest Nebraska—with funding from participating sponsors. To learn more about the competition, visit: www.NeGovNewVenture.com.