# How the College New Venture Challenge works

> Kickoff and the application workshop are in October, the deadline is in November, and selected teams enter a Winter-quarter Booth course. Paytera won the 2026 edition and $85,000 in investment, out of seven teams in the final.

By Victor Hardt. Published September 20, 2026, updated September 29, 2026. Canonical: https://pooluchicago.org/blog/college-new-venture-challenge

The CNVC starts in October, and applications are due in November. It is a venture program for undergraduates. You prepare in the fall, selected teams take a required Winter-quarter course at Booth, and it ends with a final competition.

## The CNVC calendar

| When | What happens |
| --- | --- |
| **October** | Applications open. Kickoff on October 7, application workshop and quick pitch on October 13. |
| **November** | Application deadline. |
| **December** | Class orientation and team building for the teams that made it through. |
| **Winter quarter** | Selected teams enter the CNVC course through Chicago Booth. The official rules require at least one team member to enroll, subject to the stated exception for first-year students. |

From [polsky.uchicago.edu](https://polsky.uchicago.edu/programs-events/college-new-venture-challenge/), checked September 2026. Confirm exact dates, eligibility and award terms in the [official rules](https://polsky.uchicago.edu/programs-events/college-new-venture-challenge/official-rules-application-guidelines-and-eligibility/).

## What the College New Venture Challenge is

The College New Venture Challenge is the undergraduate track of the [New Venture Challenge](https://pooluchicago.org/blog/uchicago-startups). Selected teams take a Winter-quarter Chicago Booth class, and at least one team member has to enroll, with the exception for first-years noted in the rules. Paytera won the 2026 edition and $85,000 in investment. Seven teams competed in that final.

It is a class and a competition, and the winners get funding. Under the published rules, for-profit winning teams receive investment under Polsky's SAFE terms, while nonprofit prize money is treated as a grant. Read those terms before you apply.

## What to prepare

The official application asks for a feasibility summary and a one-minute pitch video. Go to the October workshop first, then check the official guidelines for everything your team has to submit.

If you need a small non-equity grant, [LTF Ventures](https://ltf.vc/) is a separate student-run option. I'm a general partner at LTF, so I'm not neutral. LTF says it gives non-equity grants to student startups and takes no ownership. You can have both, as long as LTF comes first, because LTF says it has to be a startup's first check.

## The time commitment

Phase II includes a required Winter-quarter course for selected teams. Plan for that time next to your other classes.

The CNVC is only for College students. The broader NVC has separate tracks for the rest of UChicago.

## If you miss it

Polsky's bootcamps, LTF (where I'm a general partner) and [the venture capital clubs](https://pooluchicago.org/blog/uchicago-startup-vc-clubs) run on their own timelines through the year, and the CNVC comes back. If you miss the November deadline, you wait a year for the CNVC and can still use the rest.

## Keep building

[Pool](https://pooluchicago.org/about) is a student startup built in Hyde Park. It is a food deals app for UChicago students, free and open only to verified students. This quarter that means [2-for-1](https://pooluchicago.org/2-for-1-hyde-park) 12 oz açaí bowls at [Deep Purpl](https://pooluchicago.org/restaurants/deep-purpl) (from October 8) and 2-for-1 subs at [Subway 53rd Street](https://pooluchicago.org/restaurants/subway), plus deals at 12 more Hyde Park restaurants (one from September 29, one from September 30, four from October 1 and one from October 8), live from Monday, September 28.

## Questions people ask

**When is the College New Venture Challenge application deadline?**

November, with the kickoff and application workshop in October and class orientation in December. The CNVC class itself runs in Winter quarter. Confirm exact dates on Polsky's official rules page.

**Who can apply to the College New Venture Challenge?**

It is the undergraduate track of the New Venture Challenge, for University of Chicago College students. Check the official rules and application guidelines for the current eligibility and submission requirements.

**How much does the College New Venture Challenge pay?**

Paytera won the 2026 edition and $85,000 in investment. Seven startups competed in that final.

**What happens if you get into the CNVC?**

Teams accepted into Phase II enter the CNVC class, offered in Winter quarter through Chicago Booth. At least one team member must enroll, subject to the official rules' first-year exception. The program combines course work, coaching, and preparation for the final competition.