Tag Archives: new venture

NVC Diaries: Why did you want to do it?

Anyone interested in entrepreneurship, startups or getting involved with new business ventures has likely heard of the Edward L. Kaplan New Venture Challenge (NVC).  Run by the Polsky Center for Entrepreneurship and Innovation here at Booth, NVC is a top-ranked accelerator program in the nation and has graduated over 160 start-up companies still in operation today, including some recognizable names like Braintree, which acquired Venmo and was then later acquired by PayPal in 2013 for $800 million; Bump Technologies, which was acquired by Google in 2013; and GrubHub, which completed an IPO in April 2014.

NVC is truly an incredible program that helps student teams turn ideas into viable businesses.  But it takes a lot of hard work and commitment on top of the already demanding commitments of being a Booth student.  So I wanted to hear from NVC participants exactly why they wanted to compete in this year’s challenge.

Here’s what they had to say.

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Interview with a Millionaire

For one of my classes (my favorite class, actually), New Venture Strategy with Professor Jim Schrager, my final assignment is to write a “Make Me a Million” paper, where I interview an entrepreneur who has made his or her idea into a business with an estimated net worth of at least one million dollars.  The objective is to gain a deep understanding of how this individual transformed the seed of a business idea into a successful enterprise.  What was the inspiration? What were the challenges and setbacks? What were the risks and how did they determine whether those risks were worth taking?

I took advantage of our Executive-in-Residence (EIR) program here at Booth and reached out to Michael Alter, former CEO of The Tie Bar. Michael is also cofounder and former CEO of SurePayroll; as well as an adjunct professor of entrepreneurship here at Booth.

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