Baylor’s Baugh Center for Entrepreneurship and Free Enterprise Opens Applications for 2022 New Venture Competition
by Lexi Nitishin, student news writer, Baylor University Media and Public Relations
WACO, Texas (Sept. 21, 2021) – Baylor University’s John F. Baugh Center for Entrepreneurship and Free Enterprise has opened applications for the 11th annual Baylor New Venture Competition (BNVC), a two-day business plan and elevator pitch competition for collegiate entrepreneurs across the world.
This year’s BNVC will be an in-person event. Applications must be submitted through the Baylor New Venture Competition website by Nov. 1 to be considered. The competition will be held March 24-26 at Baylor’s Paul L. Foster Campus for Business and Innovation in Waco, Texas.
As applicants cycle through multiple rounds and receive feedback, the first deliverable is a two-page executive summary. The Top 50 then submit a 10-page business plan and the Top 10 finalists compete for over $250,000 in cash and vital resources to grow their business. Each finalist team is paired with an experienced mentor and given opportunities for pitch coaching.
“We offer expert feedback, valuable mentorship and pitch coaching to increase the probability of success among the ventures,” said Priscilla James, program manager for the Center. “Year after year, we are impressed by the caliber of teams that apply and subsequent accomplishments.”
Collegiate teams represent a variety of fields, from innovative advances in medical sciences and technology to engineering and recycling. This opportunity provides a chance to gain experience with business professionals and foster an environment conducive to business growth. Several BNVC finalists have had additional successes beyond the BNVC. Most notably, four finalists including Orai, the 2018 second place winner, and Nanodropper, a 2019 top 10 finalist, were named to the 2021 Forbes 30 Under 30.
James said the goal of the competition is to encourage and empower the student teams toward profitable and sustainable ventures. This year, finalists can expect an opportunity to receive in-person feedback and mentorship during the competition.
“We look forward to have the capability to have an in-person event. While we hosted a successful 2021 virtual competition, we know an in-person event has its own advantages. It will be a delight to interact with attendees and other like-minded individuals face to face,” James said.
For more information and the full competition schedule, visit the Baylor New Venture Competition website.
ABOUT BAYLOR UNIVERSITY
Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 20,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions.
ABOUT HANKAMER SCHOOL OF BUSINESS AT BAYLOR UNIVERSITY
At Baylor University’s Hankamer School of Business, top-ranked programs combine rigorous classroom learning, hands-on experience in the real world, a solid foundation in Christian values and a global outlook. Making up approximately 25 percent of the University’s total enrollment, undergraduate students choose from 16 major areas of study. Graduate students choose from full-time, executive or online MBA or other specialized master’s programs, and Ph.D. programs in Information Systems, Entrepreneurship or Health Services Research. The Business School also has campuses located in Austin and Dallas, Texas. Visit baylor.edu/business for more information.