The Grainger College of Engineering
Technology Entrepreneur Center

Sponsors & Prizes

Please note that this page displays the sponsors and prizes from Cozad 2024-2025.
Scroll to the bottom for information about funding and prizes.

 

 

 

Funding and Prizes

These awards are funded through sponsorship, alumni donations, and campus partners. All teams who meet the requirements of the Cozad New Venture Challenge, including submitting all mandatory deliverables and meet attendance requirements, have the opportunity to compete in the Demo Showcase in April. Students will get to showcase their ideas to venture capitalists, early-stage investors, and successful entrepreneurs who serve as judges. The judges determine which teams will present their ventures at the Finals Event. Questions? Please contact Stephanie Faraci at shalvors@illinois.edu or Kearsa Rawson at klrawson@illinois.edu.

CASH & SPECIALITY PRIZES

Cozad New Venture Challenge Finalists Prize Pool   |  Up to $200,000

Awarding Cozad New Venture Challenge finalists prizes from a pool of up to $200,000 for exceptional startups poised for breakthrough success in order to elevate their startups and move their vision forward.  One of the final teams will also receive a Consumer Electronics Show (CES) Pass and Booth pending the outcome of Samyang's bid for space at CES 2026.  Students can learn more about how funding will be distributed by visiting the designated Cozad Canvas page. 

  • Eligibility: Cozad New Venture Challenge Finalists 
  • Sponsored by: Generous contributors to the Cozad Prize Fund


Rural Health Innovation Prize  |  Up to $30,000 

For teams exploring solutions related to access to care, mental health, addiction, obesity, nutrition, and care for aging individuals. 

Health Innovation Prize  |  Up to $25,000 

This prize recognizes startups leveraging cutting-edge technology to pioneer transformative solutions in healthcare, catalyzing groundbreaking advancements in medical innovation.

 

Landuyt Business & Engineering Partnership Prize  |  Up to $25,000 

Rewards exceptional teams with high potential for growth comprised of Gies Business and Grainger Engineering students actively engaged in Cozad New Venture Challenge programming and can demonstrate an equitable partnership. These teams will qualify to participate in opportunities focused on connecting teams to the robust entrepreneurship resources available in Chicago including commercialization programs that may offer the opportunity for follow on funding.   

  • Eligibility: Teams that submit all mandatory deliverables, present at Demo Day, and have demonstrated equitable efforts of at least one Gies Business student and at least one Grainger Engineering student.
  • Sponsored by: Rick and Gayle Landuyt

Grainger Engineering Cozad Prize  |  Up to $25,000 

This prize seeks to secure promising Grainger Engineering student technology startups from a pool of up to $25,000 to propel these ventures forward.  This award is for teams ready to elevate their trajectory to connect with the Chicago tech ecosystem, access guidance from tech leaders and investors, and compete in a Chicago-based pitch competition against other Midwestern teams to thrive in Chicago’s tech landscape. 

  • Eligibility: Teams that submit all mandatory deliverables, present at Demo Day, and have Grainger Engineering students working on technology-related ideas.
  • Sponsored by: The Grainger Foundation


Advancement in Sports Medicine Prize  |  Up to $20,000 

This prize recognizes innovative solutions bridging healthcare and athletics, empowering past and present athletes through technology and medical advancements.  

  • Eligibility: Teams that submit all mandatory deliverables, present at Demo Day, and have at least one Carle Illinois College of Medicine (CI MED) student.
  • Sponsored by: Henry Dale and Betty Smith Sports Medicine Innovation Fund

DREAUM Award by Samyang Chemical Group  |  Up to $15,000

This generous award is designed to ignite and support students’ entrepreneurial ambitions, empowering them to create meaningful impact and drive positive change on a global scale. By recognizing innovative startup ideas with an international focus, it encourages students to embrace both the challenges and opportunities of global entrepreneurship—fostering a more connected and prosperous world. The award includes up to $15,000 in funding, along with a Consumer Electronics Show (CES) pass and booth access, pending the outcome of Samyang’s bid for space at CES 2026.

  • Eligibility:  Teams that submit all mandatory deliverables, present at Demo Day, and are working toward positive change on a global scale and/or ventures that will be based outside of the U.S.
  • Sponsored by:  Samyang Chemical Group

Dr. Paul Magelli Innovation Award  |  $10,000

This prize honors Dr. Magelli and his significant impact on the University of Illinois. Dr. Magelli was a driving force for entrepreneurship throughout the University launching startups and student careers for over 20 years. Illinois Ventures, the venture capital arm of the University of Illinois System, provides early-stage investment capital for advanced technology ventures led by faculty, students, and alumni. Illinois Ventures also operates Illini Angels, an alumni angel group that invests in University-related startups. 

  • Eligibility: Cozad New Venture Challenge Finalists
  • Sponsored by: Illinois Ventures 

AWARE Prizes  |  Awards of $250 - $1,000 from a pool of up to $10,000 

The AWARE Prizes recognize and support early-stage entrepreneurial teams that demonstrate a commitment to collaboration and empowerment within the university’s entrepreneurial ecosystem. These awards provide early funding to help teams explore and refine their ideas, laying the groundwork for future acceleration and success.

  • Eligibility: Teams that submit all mandatory deliverables and present at Demo Day. Teams that are in the early development phase, actively exploring their concept and that align with the university’s values of open collaboration and actively seek to engage with the broader entrepreneurial ecosystem.
  • Sponsored by: Craig & Sabrina Vodnik

Commitment to Entrepreneurship Prize  |  Awards of $250 - $1,000 from a pool of up to $10,000 

For teams that remained dedicated to developing their ideas throughout the semester and are encouraged to continue their journey, knowing their efforts are valued and supported. 

Cozad Workshops and Practice Pitch Night Prizes  |  Awards of $250 - $1,250 from a pool of up to $10,000 

For teams that remained dedicated to developing their ideas throughout the semester and are encouraged to continue their journey, knowing their efforts are valued and supported. 

Global Impact Innovator Award  |  Up to $8,000

Global Impact Innovator prizes aim to inspire and leverage students’ entrepreneurial talents to create meaningful impact and drive positive change across borders. By recognizing and supporting innovative startup ideas with an international focus, this award encourages students to embrace the challenges and opportunities of global entrepreneurship and contribute to building a more interconnected and prosperous world.

  • Eligibility:  Teams that submit all mandatory deliverables, present at Demo Day, and are working toward positive change on a global scale and/or ventures that will be based outside of the U.S.
  • Sponsored by:  Global Impact Fund: University of Illinois Alumni contributions from the Orange and Blue 2025 Crowdfunding Week

Innovate and Iterate Prototyping Microgrants  |  $250 - $500 prizes from a pool of up to $5,000

We’re offering microgrants to cover the cost of special equipment, tools, and supplies to support student teams in building prototypes, refining ideas, and continuously iterating their innovations. 

  • Eligibility: Teams that submit all mandatory deliverables, present at Demo Day, and are working on physical projects that need to cover supply and material costs.
  • Sponsored by: Former Cozad New Venture Challenge participant Matt Gornick, Founder and CEO of OrangeQC

 

Finals Best Pitch  |  $5,000 

The Finals Best Pitch award recognizes teams that excel in conveying a compelling vision using their visual aids and sharing information in an organized way within the time constraints. 

Dr. P. Street College Prize  |  Up to $1,000 + $2,500 in in-kind support from EnterpriseWorks

Awarded in memory of Dr. William Patterson, a beloved member of the University of Illinois innovation and entrepreneurship ecosystem and son of Urbana, Illinois. This prize in Dr. P.'s memory aims to recognize student entrepreneurs using technology and education to empower creativity, innovation, and entrepreneurship.

Larry F. Voitik Prize  |  Up to $3,000 

  • Eligibility: Teams that submit all mandatory deliverables and present at Demo Day. Teams that have at least one MBA student. 
  • Sponsored by: Gies College of Business

Ag Innovation Prize  |  Up to $2,500

For students pioneering agriculture innovation ideas that seek to boost sustainability, increase efficiencies, and optimize resource improvement in the face of global challenges like climate change and food security. 

  • Eligibility:  Teams that submit all mandatory deliverables and present at Demo Day.
  • Sponsored by: The Edwin Moore Family
      

Demo Day Best Pitch  |  $500 

The Demo Day Best Pitch Award recognizes teams that excel in conveying a compelling vision for their idea.  

  • Eligibility: Teams that submit all mandatory deliverables and present at Demo Day.
  • Sponsored by: Cozad Asset Management

Out of the Box Thinking Award  |  $500 



Social Impact Award  |  $500 

  • Eligibility: Teams that submit all mandatory deliverables and present at Demo Day.
  • Sponsored by: Hoveida Family Foundation  



 

IN-KIND SPECIALTY PRIZES

TechNexus  |  Chicago TechNexus Prize  |  Valued at $48,000

TechNexus Venture Collaborative is a global ecosystem that fuels industry transformation by connecting startups, investors, and corporate leaders. While we operate on a worldwide scale, our deep roots in Chicago’s tech community allow us to offer founders a powerful launchpad—so for student entrepreneurs who win this challenge, the prize isn’t just office space at TeamWorking by TechNexus; it’s a year of access to the people, resources, and opportunities that will shape their future. 

  • Eligibility: The Chicago Nexus Prize will be awarded to select Cozad teams (up to 3), granting them Annual Flexible Memberships at TeamWorking by TechNexus for up to one year after their win.
  • Sponsored by: TechNexus Venture Collaborative

EnterpriseWorks  |  JumpStart Prize 

Awarded to a team seeking to launch their new company at EnterpriseWorks incubator at the University of Illinois Research Park. This award funds 80% of the cost of professional business and legal services selected by the team to help them fund their new company in the first year. Services include legal formation, business planning, Entrepreneur-In-Residence (EIR) consulting, and grant support. 

EnterpriseWorks  |  Student Startup Tenancy Prize

EnterpriseWorks remains the heart of the Research Park’s community building efforts, and ensures the intersection of the Research Park’s startup and corporate innovation community with faculty, students, and staff at the University. This prize includes access to the co-working and conference room spaces in EnterpriseWorks, the startup incubator at the Research Park, beginning May 2025 through April 2026. 

  • Eligibility: Eligible Cozad New Venture Challenge Finalists must have a founder/executive enrolled as a student at the University of Illinois for the 2025-2026 academic year, be starting a for-profit business, and be technology-based. Winners of this prize will be required to submit an application and develop a Memorandum of Understanding with EnterpriseWorks to access the aforementioned benefits.   
  • Sponsored by: EnterpriseWorks in the University of Illinois Research Park  

Cooley LLP  |  Legal Support Prize

More information coming soon! 

  • Eligibility: Cozad New Venture Challenge Finalists 
  • Sponsored by: Cooley LLP


Illinois Business Consulting  |  Startup Consulting Services Prize

The winning team will have the opportunity to work with multi-disciplinary teams of highly qualified students to help solve challenges and identify opportunities to provide fresh perspectives and remarkable insights. 

mHUB  |  Co-Working Membership Prize

Our Chicago partner mHUB will provide a 3-month membership to two different teams to provide resources for HardTech startups. Winners will enjoy access to shared workspaces, prototyping shop, meeting spaces, a network of regional suppliers and connect to a valuable Chicago network of mentors and venture capital resources. 

  • Eligibility: Teams that submit all mandatory deliverables, present at Demo Day, and are interested in locating in Chicago. This prize will expire December 31, 2025.
  • Sponsored by: mHUB

BioPhia Consulting  |  Healthcare Consulting Services Prize

20 hours of healthcare innovation consulting for healthcare teams interested in advancing their medical innovations. BioPhia Consulting is a biotechnology, pharmaceutical, clinical diagnostics and medical device consulting company dedicated to providing a wide array of critical scientific expertise focused on assisting clients in the discovery, development and commercialization of novel therapies.  

  • Eligibility:  Teams that submit all mandatory deliverables, present at Demo Day, and are ready to actively engage with BioPhia consultants to keep their ventures moving forward. 
  • Sponsored by: Ed Moore and BioPhia Consulting

Singleton Law Firm  |  Legal Support Prize

Singleton Law Firm is offering incorporation services for two student startup teams, covering the legal work necessary to establish their companies. This prize includes expert guidance through the incorporation process, ensuring a solid legal foundation for their ventures. Teams will be responsible for any state and/or federal filing fees associated with the incorporation.

  • Eligibility: Teams that submit all mandatory deliverables and present at Demo Day.
  • Sponsored by: Singleton Law Firm

 

Retailbound Accelerator Prize  |  Tuition for 8-Week Accelerator  |  Valued at $5,000

Win free admission (valued at $5,000) to the Retailbound Accelerator Program—a transformative virtual journey designed for innovative product startups ready to scale into retail. As the winner, you'll benefit from one-on-one mentorship with a seasoned retail expert, weekly group trainings, and guest speaker sessions covering crucial areas such as product packaging, logistics, and marketing. This equity‑free program empowers you to refine your product, improve your sales plan and build a standout brand identity while navigating retailer compliance requirements.

  • Eligibility: Teams that submit all mandatory deliverables and present at Demo Day, have a physical, scalable product, and commit to fully participating in the 8‑week program. Preference may be given to those demonstrating sales traction.
  • Sponsored by: Retailbound Accelerator