Sponsors & Prizes
Thank you to our 2022 Sponsors!
Scroll down to see prize details.
Founding Sponsor | Fox Development Corporation
2022 Cozad New Venture Challenge Prizes
Nearly $200,000 in cash and in-kind prizes!
TOP PLACEMENT PRIZES
Up to 4 top placement prizes will be awarded, including the Grand Prize!
TEC Exceleration Fund
Up to $50,000 will be awarded from the TEC Exceleration Fund. The TEC Exceleration Fund provides student teams in the Cozad New Venture Challenge with seed funding to launch their new ventures.
Dr. Paul Magelli Innovation Prize | $10,000
IllinoisVENTURES awards the Dr. Paul Magelli Innovation Prize to a Cozad finalist. The $10,000 Magelli Prize will be in the form of a direct or convertible equity investment in a startup team that has demonstrated its potential to grow and create significant value as an entrepreneurial venture.
V. Dale Cozad Best Pitch Award | $5,000
This prize will be awarded by Cozad Asset Management to the team with the best pitch at the Cozad finals event.
Ag Innovation Award | $2,500
This prize will be awarded by the Edwin Moore Family to the team with the best agriculture related innovation.
Audience Choice Award | $2,500
This prize will be awarded to the team that receives the most audience votes at the Cozad Finals Event.
OrangeQC Best Prototype Award | $2,000
Up to $2,000 total will be awarded by OrangeQC to the team or teams with the best prototype, or to help fund the creation of the best potential prototype at the Cozad Finals Event.
Research Park AWARE (Accelerating Women And underRepresented Entrepreneurs) Award | $1,500
This award helps the winning startup create a prototype and advance their technology.
Founders Best Newcomer Prize | $250
Founders Illinois Entrepreneurs will provide $250 for the best newcomer prize among the Cozad teams.
In-Kind Service Prizes
BioPhia Consulting Prize
Up to two teams will receive 20 hours of free consulting in the medical products area (medical devices, clinical diagnostics, pharmaceuticals, biopharmaceuticals) from BioPhia Consulting. This prize is valued at $3,000 per team.
EnterpriseWorks Incubation Space Prize
Up to three teams will receive incubation space and resources from EnterpriseWorks for twelve months, which includes student shared office and/or laboratory space and counsel from the Entrepreneurs-in-Residence that meet with student teams regularly. Eligibility for the incubator space requires students to actively work from the space.
Intellectual Property Clinic | College of Law
The Intellectual Property Clinic (IP Clinic) is a joint effort between TEC and the College of Law with two tracks: the Patent Track and the Trademark Track. Selected participants from the Cozad New Venture Challenge can have a patent application drafted or receive trademark assistance at no cost. The value of this program is worth at least $10,000-$12,000 per patent application, and $2,000-$2,500 for trademark assistance.
iVenture Accelerator Prize
iVenture Accelerator will offer space for eligible teams for its yearlong, educational startup accelerator program. The iVenture Accelerator enables student-led startups to create economic and social value by supporting student entrepreneurs with knowledge, funding, and access to world-class University of Illinois resources and alumni. To be eligible, your team must have student founders during the 2021-22 academic year. A $2,500 stipend per student fellow and up to $10,000 in seed funding per startup team will be offered to selected teams.
Magelli Office of Experiential Learning at Gies College of Business Award
Up to three teams will receive a semester-long consulting project from the Magelli Office of Experiential Learning at Gies College of Business for their venture. This office provides opportunities for Gies students to gain hands-on experience working on real-world projects for Fortune 100 corporations, mid-sized and startup companies, and nonprofit organizations. A team of student consultants will work with the winning venture to complete an agreed-upon consulting project during the 2022-2023 academic year.
mHUB will offer a three month Co-Working membership at their Chicago location to help a select team grow their business and prototype all in one place. This package includes access to their shop, a hot desk, conference rooms, mentors, classes, and more.
Research Park I-Start Prize
One startup will be awarded acceptance into the I-Start program, which provides 80% funding for the cost of first year legal services, accounting/financial assistance, SBIR application consulting, business plan and market research preparation, basic website development, and logo design.
Singleton Law Firm Prize
Singleton Law Firm, PC will provide free legal services in the areas of corporate formation, patent, trademark, and licensing.
TechNexus Venture Collaborative Prize
TechNexus Venture Collaborative will award TWO teams (with up to five members on each team) entrepreneurial mentoring and investor advisory for one year. Winning teams are also provided year-long complimentary Flexible Membership to TeamWorking by TechNexus, our innovation hub located in downtown Chicago. Membership access includes startup resources, collaborative work and meeting space, and exclusive community engagement with other entrepreneurs, mentors, and contributors, who call TeamWorking their home base. Membership will also include access to special software discounts as well. Estimated Total Value: $40,000.