Frequently Asked Questions
Frequently Asked Questions about the Cozad New Venture Challenge
If I participate, does TEC or the University get ownership of my startup’s intellectual property (IP)?
No. The University and TEC do not receive the right to own your IP if you participate, or win funding or prizes, through the Cozad New Venture Challenge. For more information, see University IP Ownership Guidelines.
Do I need teammates to participate, or can I participate on my own?
Forming a team is not required. You may participate on your own.
Who is eligible to participate?
All students across campus, whether undergraduate or graduate students, are welcome to participate. Students must be enrolled full-time at the University of Illinois Urbana-Champaign during the academic year in which they are competing. All teams must include at least one full-time, degree-seeking student in order to compete.
Think your idea is too early for the Cozad New Venture Challenge?
All you need is an idea, and your idea can even change while participating in the Cozad New Venture Challenge. Prototypes aren’t required. We’ll help you accelerate your idea with mentoring and developing the skills you need to succeed.
Think your startup is too advanced for the Cozad New Venture Challenge?
You’re in a good position to win serious funding by participating! And, you'll get to connect with investors and experienced entrepreneurs.
About how many teams compete in Cozad each year?
It varies from year to year, but we have had between 125 and 200 teams compete for the last couple years.
When is registration due?
Registration is now closed. Check back in Fall 2025 for the 2025-2026 registration deadline.
What do I win if I win the Cozad New Venture Challenge?
It varies from year to year, but we have given out large amounts of funding, co-working space, resources, counseling, consulting, and various other prizes to help kickstart your company. Check out the top placement prize-winning teams and what they won in 2024! Check out even more Cozad awards given at our Year-End event.
Who is eligible for the top prizes?
Participants in any track are eligible for top placement prizes such as Grand Prize, Second Place, and so forth.
Can international students participate in Cozad?
Yes, international students can participate in Cozad. It's a great program to build basic business formulation skills. Please note that international students face different regulations for formally registering a company in the US and we encourage you to be equipped with the necessary details to avoid jeopardizing your visa status.
Which prizes are awarded in the form of SAFE funding? What exactly is SAFE funding?
All of the top cash prizes in Cozad are awarded in the form of SAFE funding. SAFEs are set up in such a way to be enormously beneficial to student founders. Learn what you need to know about SAFEs with this easy-to-understand document that includes examples that show how it could apply to you and your startup. Fun Fact: Y Combinator pioneered the SAFE in 2013 as a way for early-stage startups without valuations to get needed funding.