For the first time in its 26-year history, Illinois’ largest venture creation program, Cozad New Venture Challenge, is awarding a $100,000 grand prize. The Technology Entrepreneur Center (TEC) in The Grainger College of Engineering has announced that Chicago-based TechNexus Venture Collaborative has committed a $100,000 SAFE (Simple Agreement for Future Equity) investment. Across all awards, Cozad will distribute over $600,000 in total prizes this year.
TechNexus Venture Collaborative is an investment and innovation platform that builds and scales high-growth businesses. A long-time and consistent supporter of the Cozad New Venture Challenge for over 15 years, TechNexus has deepened its commitment to developing Midwest startup talent year after year. This year, however, they are making their most significant investment yet.
Fred Hoch, Founding Partner at TechNexus Venture Collaborative, said, “We’ve seen the high caliber of talent coming out of Cozad. We believe that early-stage founders need more than just a check; they need a collaborative ecosystem. We are proud to support innovators' transition from the lab to the market. Now is the time that will ensure that the next great Illinois success story has every resource they need to stay and grow national industry leadership.”
The prize includes annual flexible memberships at TeamWorking by TechNexus, a workspace with access to community programming and the broader TechNexus venture ecosystem — giving student founders a foothold in one of the country's most vibrant startup cities.
Exponential Growth
TechNexus’ $100K investment and the increasing total prize pool are a testament to the program’s transformational impact. This year, 350 teams have registered with 900+ students. The campuswide program that is open to all students has witnessed exponential growth, doubling the number of teams and students registered since 2023. More than 4,600 students have participated in the program since its inception in 2000. The program has awarded over $4 million in cash and prizes to accelerate teams since 2000.
The semester-long program that kicked off in February guides startup teams through the full arc of venture creation, from validating an idea and refining a business model to pitching to investors and connecting with a broad network of mentors and resources. This year, the program introduced specialized tracks: Healthcare Transformation, Technology, Consumer Packaged Goods (CPG), and Online and Multi-Industry Innovation. Each track features three customized workshops led by expert instructors to give participants targeted guidance tailored to the unique challenges of their ventures.
Mark Your Calendar: Be a Cozad Judge and a Mentor
On April 16, the Demo Day Showcase will give teams the opportunity to pitch their ventures to a broad audience of investors, mentors and campus community members. The following day, April 17, the finalists will compete at the Finals Event & Award Celebration, where the historic $100,000 grand prize and other awards will be announced.
TEC is seeking judges to help evaluate this year's exceptional pool of student ventures. In 2025, 320 judges and mentors supported Cozad teams. Serving as a Cozad judge is a unique opportunity to engage with the next generation of Illinois entrepreneurs and contribute to the growth of the Midwest startup ecosystem. Interested supporters can learn more and sign up today.
A Launchpad for Innovation
Over the past 26 years, Cozad has played a pivotal role in propelling some of Illinois' notable startups, including Sun King, Tandemn, Top Tier Lessons, Natrion, ASL Aspire, PSYONIC, Mesh++, Reconstruct and many more. Cozad teams have collectively raised an estimated $165 million in total funding over the last decade alone, attracting significant investment that helps ventures grow, create jobs and foster a skilled workforce that benefits the broader economy.
As Cozad grows, the program's expanding partnerships, record-breaking participation and now a historic $100,000 grand prize reflects a thriving entrepreneurial culture at the University of Illinois Urbana-Champaign, and a community of supporters committed to helping the next generation of founders turn bold ideas into meaningful impact.
This year's campus partners include the Gies College of Business, Carle Illinois College of Medicine, the Office of the Vice Chancellor for Research and Innovation, the College of Education and Illinois Ventures.