Haslam College of Business - Boyd Venture Challenge

The Boyd Venture Challenge, open to all UT System (undergraduate and graduate) students, is an annual seed-funding grant competition held each spring semester. Eligible student-owned businesses must be structured as a sole proprietorship, partnership, LLC or corporation with a federal tax ID. A total of $50,000 in non-dilutive startup capital is awarded, with individual grants up to $25,000.

Eligibility

The competition is open to students from the entire UT system. Any legally established student-owned business affiliated with the system is generally eligible to apply. Specific requirements include:

• To be selected to pitch, applicants must show evidence of traction, such as revenue, a mentor or customer recommendation, purchase order, memorandum of understanding (MOU) or participation in programs like iCore
• Businesses must have a federal tax ID (FEIN or TIN) and be structured as a corporation, LLC or partnership
• While sole proprietorships with a business license have been allowed to apply in the past, starting with the 2020 Boyd Venture Challenge, sole proprietors must form a legal entity, such as an LLC or S corporation, before receiving any award funds; the Anderson Center offers guidance on entity formation
• The student applicant must hold majority ownership in the business.
• Previous Boyd Venture Challenge awardees may reapply but must demonstrate how prior funds advanced their business

Application

The application period opens during the spring semester. To apply, complete and submit the online application form. Final applications must be submitted via the online form to be considered for the competition. Once applications are received, judges will review and invite selected applicants to pitch their business plan in person.

Answer all application questions carefully, clearly and professionally.

Executive summaries must be no longer than two pages and should include:

• Name of student business
• Activities to date
• A clear definition of the market problem or opportunity
• Business model (price, cost, profit)
• Value proposition
• Talent required/talent already hired
• Timeline, milestones and costs to move from current status to operating entity, if not already in operation
• Financial projections
• How the business will achieve sustainability, what future products or services will follow

Judges review applications and invite selected applicants to pitch their business plans in person.

Contact the Anderson Center with any questions regarding the application process.