Venture Champions Challenge
Launch Your Hardtech Startup
We need all hands on the deck to solve the big challenges facing humanity. The next generation of hardtech leaders need to be inclusive, inventive, and innovative – join the Venture Champions (VC) Challenge to pitch your innovative technology which solves a critical problem in biotech, cleantech or infotech. Take the first step by participating in the 2024 VC Challenge, starting on a path to build a hard tech venture and gain training, mentorship, resources and community.
Powered by LIHTI’s Venture Champions Initiative, the VC Challenge is the springboard program to start your venture development journey. The VC Challenge is focused on identifying high-potential, impactful cutting-edge hard tech venture concepts originating from research labs and universities on Long Island, accelerating and supporting their commercialization journey to bring impactful, equitable and sustainable solutions and products to market. We are specially interested in hard tech ventures led by diverse teams that benefit our community and innovation ecosystem on Long Island.
About the VC Challenge
We aim to provide strong and inclusive support to all participants helping them reach their full potential. VC Challenge participants and winners receive mentorship and incentives to advance their technologies and accelerate their entrepreneurial journey. Please see the VC Challenge timeline below for overview.
Who Should Apply
The VC Challenge is looking to support champions of hard tech innovations in biotech, cleantech and infotech. You are a fit for our program if you say yes to the following:
- I have a proof-of-concept of a hard tech innovation in biotech, cleantech or infotech
- I am interested in the commercial applications of my technology and aspire to accelerate my entrepreneurship and technology commercialization journey through mentorship and support
- I want to solve critical problems in biotech, cleantech or infotech
- I am a professional in technology or business in biotech, cleantech or infotech OR I am a student or postdoc in STEMM, business or law fields
- LIHTI mission and core values align with my own
Participation Expectations
- Submit complete application and work with VC Challenge team to get ready for VC
Challenge Pitch Event. - Once invited, finalists are expected to fully engage with VC Challenge team (participate
in office hours, 1:1 mentorship and feedback sessions) to iterate their pitch to get ready
for VC Challenge Pitch Event. - Winners will receive funding and support contingent on successful completion of
milestones.
Benefits of the Venture Champions Challenge
Office Hours
Free office hours and coaching delivered by professionals
Cash Prizes
Cash prizes for winners and continued mentorship for high potential participants
Mentorship
Access to a community of experts, mentors, and like-minded peers
Follow-On Programs
Successful participation will unlock the ability to join follow-on programs, additional funding, and training opportunities
How The Funding Works
Prizes awarded are in the form of funds that will apply towards I-Corp support related to customer discovery, technology development, infrastructure, advice, resources, networking opportunities, and training. The I-Corps program nurtures and supports winners to transition their ideas, devices, processes or other intellectual activities into the marketplace or into becoming I-Corps Team applicants. Awardees must complete a regional I-Corps program within four months of the challenge to satisfy the requirements to receive the funding. All participants of the VC Challenge are eligible and encouraged to participate in regional I-Corps programs irrespective if you have been awarded funding.
This program is supported by the National Science Foundation and seeks to develop and nurture a national innovation ecosystem that builds upon research to guide the output of scientific discoveries closer to the development of technologies, products and processes that benefit society.
For any questions, please reach out to Shruti Sharma at shruti.sharma@stonybrook.edu.