The University of Illinois Grainger College of Engineering, in partnership with the Polsky Center for Entrepreneurship and Innovation at the University of Chicago, is pleased to announce the seven finalists, including four teams from the University of Illinois, selected to participate in the College New Venture Challenge (CNVC) finals.
The CNVC, an undergraduate student startup accelerator, is open to returning undergraduate students from UChicago, as well as students in the Grainger Engineering's Startup City Scholars program.
On March 1, the finalists will present their business plans to a panel of judges and investors for a piece of an investment pool expected to top $200,000.
This year, Grainger Engineering will also award the new Grainger Engineering CNVC Prize. This prestigious prize supports CNVC teams comprising students from both the University of Illinois and the University of Chicago. These collaborative teams are eligible to compete for a prize pool of $75,000 offered by Grainger Engineering. Participation in the final round of the CNVC competition is not a requirement for competing for the Grainger Engineering CNVC Prize.
"Each year, the excellence of our groups, especially with the increasing diversity of mixed teams, surpasses our expectations," stated Jed Taylor, Assistant Dean of Innovation and Entrepreneurship at Grainger Engineering. "This year, we're especially excited to introduce the new Grainger Engineering CNVC Prize, celebrating outstanding innovation and teamwork. We eagerly anticipate the finals and wish all the teams best of luck."
The 2024 UIUC CNVC finalists are:
BYLD Innovations: Led by Karan Jain, Industrial and Enterprise Systems Engineering student, BYLD Innovations is building a cutting-edge, portable, and foldable 3D printer for increasing accessibility to 3D printing and innovation.
MethaFarm: Led by Mechanical Science & Engineering student Aman Mehta, MethaFarm aims to localize and improve the sustainability of small-scale farm waste management systems. MethaFarm utilizes small anaerobic digesters to process the waste into fertilizer and biogas, which can be converted into electricity. The carbon byproduct is then captured and sold.
Resolv: Led by Information Sciences student William Lawson, Resolv is building a blockchain security tool that allows crypto businesses to recover stolen assets.
Domain Diligence: Led by University of Chicago student Sophie Rydzewski with UIUC students, Domain Diligence is an online platform that helps investment banks speed up and simplify the due diligence processes for M&A transactions, letting them focus on delivering the most value for the client.
Other 2024 CNVC finalists are:
Bellie: Bellie is a gut-strengthening beverage that helps soothe acute intestinal pain and rebuilds the microbiome over time. Backed by science, it is on a mission to support people on their journey to better health.
Lynkr Inc.: Lynkr is a college-specific social app designed for event planning and engagement within university ecosystems like UChicago. Uniquely streamlining event organization by allowing students to invite specific groups in one click, manage block and allow lists, and track attendance, students can engage with their school in new ways with live chats and friendtracking.
TrackPatch: TrackPatch is a bioadhesive tracker which can easily be attached to a child’s skin to locate their whereabouts and receive critical alerts during an emergency. Its product features a silicone-based bioadhesive, which ensures maximum reliability and biocompatibility. With TrackPatch, your child’s safety is just a tap away.
The collaborative entrepreneurship program is successfully helping students of both institutions bring their innovative ideas to the market. Startup City Scholars past UIUC teams include Top Tier Lessons, DeepWalk, Haylon Technologies, Teneez, and Sakura MedTech.
Read the CNVC 2024 finalists announcement by the Polsky Center for Entrepreneurship and Innovation here.