Now in its 31st year, the New Venture Championship (NVC) returned to an in-person format this year, holding its final round of competition April 29-30 at the University of Oregon facility in Portland, Oregon.
The eight teams selected as this year’s semi-finalists were selected from a large pool of applicants from across the United States and Canada.
After two days of competition, the Lundquist College of Business is pleased to announce the winners of the 2022 New Venture Championship.
2022 New Venture Champion and Reinmuth Cup Winner
The 2022 New Venture Champion is KLAW Industries from the State University of New York at Binghamton. They will receive $20,000 to launch their business. KLAW Industries converts glass sent to landfill into Pantheon™, a concrete-replacing cement that allows ready-mix concrete plants to increase the compressive strength of their product while decreasing embodied carbon.
The second place
Johns Hopkins University’s LymphaSense placed second and will receive $10,000 for their efforts. LymphaSense’s wearable monitor revolutionizes the way breast cancer patients are monitored for signs of lymphedema, a debilitating condition that can occur after breast cancer surgery. Used in clinics and prescribed by cancer surgeons and oncologists for home screening, LymphaSense seeks to improve the lives of breast cancer survivors by allowing patients to monitor their body’s response to cancer treatment.
In addition to the grand prizes, Beam Commerce from the University of Waterloo and Peko Produce from McGill University each received $2,500 as finalists. Beam Commerce creates next-generation software for independent e-commerce stores. Its apps facilitate upselling, store design, order tracking, and more. Peko Produce’s mission is to fight food waste and promote access to healthy, affordable foods by delivering consumers “imperfect” or excess fruits and vegetables at up to 40% off grocery store prices.
Best Written Business Plan
McGill University’s Peko Produce received the award for Best Written Business Plan and $1,500.
Elevator Pitch Price
Johns Hopkins University’s LymphaSense placed received the elevator pitch award and $1,500 for their performance in the elevator pitch session.
Sustainability Award, presented by Riff Beverages
KLAW Industries at the State University of New York at Binghamton won the sustainability award and the accompanying $2,000. The sustainability cycle required teams to present the social and environmental sustainability components of their projects. The judges rated each team on the potential positive impact of their business and their viability to launch and grow.
On behalf of the 2022 New Venture Championship participants, educational advisors and staff, we would like to express a sincere thank you to all of our
We also extend our thanks and congratulations to all 16 teams who joined the competition this year, as well as to all who applied. Their innovative ideas and their desire to make the world a better place will take them far.
If you missed watching the week’s activities live, each event is available for viewing on the UOBusiness YouTube channel.
—Amanda Miner, Lundquist College Communications