# UChicago startups from the New Venture Challenge

> Slideflow Labs, a cancer pathology AI company, won the 30th New Venture Challenge and $575,000 in 2026. Paytera won the College track and $85,000 in investment. The older names, Grubhub at $7.3 billion and Braintree at $800 million, came out of the same program.

By Victor Hardt. Published September 19, 2026, updated September 29, 2026. Canonical: https://pooluchicago.org/blog/uchicago-startups

Search for UChicago startups and you mostly get Grubhub, founded in 2004. Below are this year's winners, with names and check sizes, and then the older companies people still cite.

## Who won in 2026

| Company | What it won |
| --- | --- |
| **Slideflow Labs** cancer pathology AI | First place at the 30th New Venture Challenge, and the Rattan L. Khosa First Place Prize of $575,000. |
| **Paytera** undergraduate track | Won the 14th [College New Venture Challenge](https://pooluchicago.org/blog/college-new-venture-challenge) and $85,000 in investment. If you are in the College, this is the track to watch. |
| **Rare Earth Rescue** | People's Choice at the NVC finals, $5,000, voted on by the audience. |

The 2026 NVC put $2.1 million into its finalists. Of the 27 teams in the classroom portion, ten made the final. Seven startups competed in the College track.

From polsky.uchicago.edu and UChicago News, checked September 2026.

## Older UChicago startups and their exits

| Company | What happened |
| --- | --- |
| **Grubhub** | Sold to Just Eat Takeaway in a deal valued at $7.3 billion. Polsky says it is the largest exit of any company from the accelerator. |
| **Braintree/Venmo** | Braintree went through the New Venture Challenge in 2007. It bought Venmo in 2012, and PayPal bought Braintree in 2013 for $800 million. |
| **Simple Mills** | Katlin Smith tied for first in the 2014 NVC as a Booth student. |
| **Tovala** | An NVC alum that is still operating. |

From polsky.uchicago.edu and UChicago News, checked September 2026.

## The numbers behind it

The Edward L. Kaplan, '71, New Venture Challenge started in 1996, so 2026 is its thirtieth year. Polsky counts more than 600 startups graduated and more than 200 still in business. Those companies have raised over $2 billion and seen over $11 billion in mergers and exits. Polsky calls it one of the top-ranked accelerator programs in the nation.

## If you are in the College

Most of the famous names above came out of Booth. Undergraduates have their own route in.

[Edge](https://www.uchicagoedge.org/) is the undergraduate entrepreneurship RSO. Its site says cohort members meet one-on-one with an investor or startup founder every other week, with a cohort meeting in the weeks between. For a student club, that is a lot of individual time.

The College New Venture Challenge is the undergraduate track of the NVC. Polsky also runs bootcamps, accelerators, paid South Side business internships and an Entrepreneurship and Innovation minor. [The venture capital clubs guide](https://pooluchicago.org/blog/uchicago-startup-vc-clubs) covers the investing side, from LTF (where I'm a general partner) to Midway.

## Funding for UChicago startups

In 2016 the university announced $25 million from its endowment as a ten-year commitment to co-invest with established venture funds in UChicago-affiliated startups raising an early round. That money goes in next to outside investors, so it works for companies already raising, and students can't apply for it as a grant. The Polsky Founders' Fund Fellowship is separate. It picked eight recent alumni for its 2026-27 cohort to work on their ventures full time.

For an early student project, one option is [LTF Ventures](https://ltf.vc/) (I'm a general partner at LTF). It writes small non-equity checks to student startups. [Its portfolio](https://ltf.vc/portfolio) goes back to 2018 and includes Y Combinator-backed companies like Simmer, Freestyle and Perspectives Health. Check current terms and timelines with each program before you apply.

## What the numbers mean

Polsky counts more than 600 startups graduated, with more than 200 still in business. The best-known exits, like Grubhub and Braintree, are from earlier years. Slideflow and Paytera are this year's winners.

## A student startup you can use now

[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

**What companies started at UChicago?**

Grubhub, Braintree/Venmo, Simple Mills and Tovala are among the best-known companies associated with the Edward L. Kaplan, '71, New Venture Challenge. Grubhub's sale to Just Eat Takeaway was valued at $7.3 billion, and Braintree sold to PayPal for $800 million in 2013.

**Did Grubhub start at the University of Chicago?**

It went through the New Venture Challenge, the accelerator run by the Polsky Center. Per Polsky, its sale to Just Eat Takeaway was valued at $7.3 billion, the largest exit of any company from the program.

**How many startups has the New Venture Challenge produced?**

Polsky puts it at more than 600 startups graduated, with more than 200 still in business, over $2 billion raised and over $11 billion in mergers and exits. The NVC launched in 1996 and is now in its thirtieth year.

**How do undergraduates get into startups at UChicago?**

Edge is the undergraduate entrepreneurship RSO, and its site says cohort members get a one-on-one with an investor or startup founder every other week. The College New Venture Challenge is the undergraduate track of the NVC, and Polsky runs bootcamps, accelerators, paid internships and an Entrepreneurship and Innovation minor.