Prizes

The Best Customer Discovery Award recognizes a team's outstanding customer discovery through the GW Team Development (MIR) Program. This award honors the quality, depth, and strategic application of insights gained from customer interviews.

The Best Market Assessment Award is given to the team that presents the most comprehensive understanding of their market—its definition, dynamics, and trends—and clearly connects this insight to the development of their value proposition.

The Best Financial Understanding Award recognizes a finalist team that demonstrates a clear, thoughtful, and well-structured approach to startup financials, economic principles, and revenue projections. This prize is awarded to the team that effectively showcases a strong grasp of cost estimates, income projections, financial sustainability, and overall economic viability in their NVC application and presentations. The winning team exhibits a deep understanding of their financial model, providing realistic and well-supported financial strategies that set the foundation for a successful venture.

The Best Storytelling Award recognizes the team that crafts and delivers a compelling, creative, and cohesive narrative. Honors ventures that effectively communicate their vision, impact, and value proposition in a way that is memorable, emotionally resonant, and aligned with their brand identity.

The Best Video Award recognizes the finalist team whose 30-second video delivers the most creative and compelling visualization of their business thesis. The video should clearly communicate the value proposition, capture attention, and showcase the team's innovation and storytelling abilities. The winner will be determined by the highest number of audience votes—reflecting not only the strength of the video itself, but also how effectively the team marketed it.

The Spirit of NVC Award recognizes a finalist team that embodies the core values of the New Venture Competition—dedication, curiosity, enthusiasm, evolution, and self-awareness—throughout the competition journey. Selected by the Office of Innovation & Entrepreneurship (OIE) staff, this award honors a team that demonstrates resilience, a commitment to learning, and a willingness to adapt and grow as entrepreneurs. This prize celebrates the entrepreneurial spirit that drives innovation and success beyond the competition.

The Global Impact Prize is awarded to the team whose venture demonstrates strong potential to create measurable and sustainable social impact in an international market. This prize recognizes innovative solutions that address global challenges and improve lives beyond U.S. borders.

The NextEra Prize is awarded to the team whose venture offers a promising solution to sustainability challenges such as climate change, waste reduction, environmental preservation, or clean energy. This prize honors innovative ideas with the potential to create lasting environmental impact.