InNUvation info

Student entrepreneurs dream big at Northwestern University April 17, 2007, Evanston, Ill.-- This Saturday over 120 Northwestern University student entrepreneurs will compete in the NU Venture Challenge semi-finals for the chance to turn their big ideas into the next big start-up. The NU Venture Challenge (http://nuvc.innuvation.org) is Northwestern’s first inter-disciplinary competition of its kind.  The event unites teams of students from all of the university’s schools including the Feinberg School of Medicine, Kellogg School of Management, McCormick School of Engineering, Medill School of Journalism, Northwestern School of Law, and Weinberg College of Arts and Sciences.  The student-run competition is a platform for entrepreneurial students to experience first-hand the process of cultivating a business idea from scratch.  Participants have access to world-class faculty, veteran entrepreneurs and early-stage investors.    Thirty teams have advanced to the semi-final round in industries ranging from biotech and electronics to energy and social services.  One team, Green Fuels, seeks to deliver renewable fuel to businesses managing diesel truck fleets, while Create Parking Inc. will provide homeowners in crowded cities with a mechanism to rent their driveway space while they are away from home.  Other ideas include specialized footwear designs which alleviate knee and lower-extremity joint pain, and a social networking site that connects amateur athletes.   During the semi-finals, teams will deliver three minute elevator pitches to a panel of judges.  Six teams will advance to the final round on May 12 where $27,500 in prize money will be distributed. As Northwestern University’s only interdisciplinary entrepreneurship and innovation forum, InNUvation (http://www.innuvation.org) aspires to kindle the entrepreneurial spirit by providing opportunities for education and idea-exchange, thus fostering commercialization and new venture formation. Currently InNUvation has over 1,000 members from nine Northwestern schools. The semi-finals will be held Saturday, April 21, from 12-3 p.m. at the Kellogg School of Management in the Jacobs Center, 2001 Sheridan Rd., Evanston, IL 60208.  # # #  To follow a team through this competition, or to learn more about translational research at Northwestern University, please contact Kate Garmey at kgarmey@northwestern.edu, or by cell phone at (617) 416 2230.