Guides · By Victor Hardt · Updated · 3 min read
How to get funding for a startup at UChicago
There are three kinds of money for a UChicago student startup. LTF Ventures, where I'm a general partner, gives small non-equity grants, $500 to $3,000, and takes no ownership. The College New Venture Challenge's 2026 winner received $85,000 in investment through a SAFE. The university's $25 million co-investment program, announced in 2016, is for companies already raising from venture funds.
Startup funding at UChicago comes in a few forms, and each fits a different stage. LTF gives small non-equity grants to early student projects (I'm a general partner at LTF). The CNVC is a venture program for undergraduates. The university's investment program is for companies already raising from established venture funds.
UChicago startup funding options
| Source | What it is |
|---|---|
| LTF Ventures early student projects | Non-equity grants for student startups. LTF's funding guide lists typical checks of $500 to $3,000, and LTF does not take ownership. I'm a general partner at LTF. |
| College New Venture Challenge undergraduate | A fall-to-winter venture program for College students. Paytera received $85,000 in investment in 2026. For-profit winning teams receive investment under the program's SAFE terms. The official rules treat nonprofit prize money as a grant. |
| New Venture Challenge graduate-focused | The flagship NVC awarded $2.1 million across its 2026 finalists, with a $575,000 first-place award. |
| UChicago Startup Investment Program | $25 million from the endowment, announced in 2016 as a ten-year commitment. It co-invests with established venture funds in UChicago-affiliated companies raising an early round, and students can't apply to it for grants. |
| Polsky Founders' Fund Fellowship | A post-graduation fellowship. Eight recent alumni were selected for the 2026-27 cohort to work on their ventures full time. |
Sources: Polsky, UChicago News, and LTF Ventures, checked September 2026. Terms and application windows change, so check the linked program pages before you plan around them.
2-for-1 12 oz açaí bowls at Deep Purpl (from October 8) and 2-for-1 subs at Subway 53rd Street, 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). Free for verified UChicago students, live Monday, September 28.
Get PoolWhere to start
If you are an undergraduate with an idea, start with the CNVC kickoff and application workshop in October. Applications are due in November, and the program's official materials cover eligibility and what you need to apply.
If you need a small amount to test an idea, LTF Ventures is one option. I'm a general partner at LTF, so keep that in mind. LTF's grants are non-equity, so LTF gets no ownership in your company. Its funding guide lists typical checks of $500 to $3,000, for costs like server hosting and incorporation. LTF's funding process is a coffee chat and then a pitch to its board, and LTF says decisions come quickly.
The UChicago Startup Investment Program is different. When the university announced it in 2016, it set the program up to co-invest alongside established venture funds in UChicago-affiliated companies raising an early round. It is an institutional investor, and it does not replace a small student grant.
Match the money to what you need
A small grant pays for a specific early expense. A venture program gives you structure and feedback, and possibly an award at the end. Institutional investment is for a company already raising from venture investors. Before you apply anywhere, be clear about what the money would let you do next.
Read the current terms before you accept an award or investment. Under the CNVC's published rules, for-profit winning teams must agree to Polsky's non-negotiable SAFE to receive prize funds, while nonprofit prize money is treated as a grant. LTF's grants are non-equity (I'm a general partner at LTF).
Build with a team
The startups guide covers the campus startup community and practical first steps. Pool is a student startup built in Hyde Park, a food deals app for UChicago students. This quarter that means 2-for-1 12 oz açaí bowls at Deep Purpl (from October 8) and 2-for-1 subs at Subway 53rd Street, 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.
On Pool this quarter. The app is free right now.
- 2-for-1 12 oz açaí bowls at Deep Purpl
- 2-for-1 subs at Subway 53rd Street
- 2-for-1 half chicken plates at Nando's PERi-PERi
- 2-for-1 Philly sandwiches at B'Gabs Comfort Cafe
- 2-for-1 jerk or honey wings at Ja' Grill
- 2-for-1 Wagyu Steak Frites at Chemistry
- 2-for-1 wraps, salads and bowls at Litehouse Whole Food Grill
- 2-for-1 chicken shawarma wraps at Cedars
- a free refresher with any treat at StruggleBeard Bakery
- a free third taco or a free drink with a Taco Dinner at 5 Rabanitos
- 2-for-1 Indian combo meals at Rajun Cajun
- 2-for-1 chicken and waffle bites at Dawn A.M. Eatery
- 2-for-1 lattes at Sweet Drip
- 2-for-1 sushi, pizza and more at The Sit Down Café & Sushi Bar
Live Monday, September 28. StruggleBeard Bakery starts Tuesday, September 29. B'Gabs Comfort Cafe starts Wednesday, September 30. Rajun Cajun, Dawn A.M. Eatery, Sweet Drip and The Sit Down Café & Sushi Bar start Thursday, October 1. Deep Purpl and Nando's PERi-PERi start Thursday, October 8.
Questions people ask
- How do I get funding for my startup at UChicago?
- Pick the program that fits your stage. The CNVC is an undergraduate venture program with a fall application and a required Winter-quarter course for selected teams. LTF offers small non-equity grants to student startups (I'm a general partner there). The UChicago Startup Investment Program co-invests with established venture funds and is not a student grant scheme.
- Does UChicago give money to student startups?
- Yes, through several routes. The New Venture Challenge awarded $2.1 million across its 2026 finalists with a $575,000 first prize, the College track winner received $85,000 in investment, and the Polsky Founders' Fund Fellowship selected eight recent alumni for its 2026-27 cohort to build their ventures full time.
- What is the UChicago Startup Investment Program?
- A $25 million pledge from the university endowment, announced in 2016 as a ten-year commitment, to co-invest alongside established venture funds in UChicago-affiliated startups raising an early round. It does not give grants to students.
- Do I need funding to start a startup at UChicago?
- Not necessarily. Work out what the money would pay for next, then pick a program whose terms and stage fit. Read the current terms before you accept an award or investment.