The Harvard Business School (HBS) New Venture Competition (NVC) has once again proven itself as one of the premier events for fostering innovation, entrepreneurship, and social impact. In its 29th edition, the competition saw an incredible display of talent as 12 student and alumni teams competed for a share of $315,000 in prizes and a wealth of invaluable resources. The event took place at HBS’s Klarman Hall, where the energy was palpable, with spectators eager to see which of these promising ventures would emerge victorious.
In this blog post, we’ll take a deep dive into the significance of the 2025 HBS New Venture Competition, the types of startups that competed, and the importance of such events for aspiring entrepreneurs and social innovators.
The HBS New Venture Competition: A Hub for Innovation
The Harvard Business School New Venture Competition is a cornerstone event for anyone interested in launching new business ventures or social impact initiatives. Open to all students and alumni, the competition provides participants with a platform to present groundbreaking ideas that could shape the future.
This year, over 245 teams participated, with contestants representing a broad spectrum of industries and sectors, including healthcare, sustainability, AI, nutrition, and lifestyle. The event is made possible by the Arthur Rock Center for Entrepreneurship and the Social Enterprise Initiative (SEI), with strong support from HBS’s Alumni Relations. These teams came from six regional competitions around the world, and they had one goal: to secure vital funding and mentorship to turn their ventures into successful businesses or social enterprises.
How the 2025 HBS New Venture Competition Works
The NVC isn’t just a pitch competition. It’s a full-fledged entrepreneurship ecosystem where contestants receive feedback from over 190 judges and mentors, many of whom are HBS graduates with experience in venture capital, private equity, impact investing, law, accounting, and philanthropy. These mentors provide valuable insights and advice that help shape each team’s business strategy and refine their pitches.
The event culminates in a finale where the top prizes are awarded in three main tracks:
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Student Business Track
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Student Social Enterprise Track
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Alumni New Venture Track
Each track offers a $75,000 grand prize, with runner-up prizes of $25,000 and audience prizes of $5,000. The stakes are high, and for the finalists, the competition is a chance to gain exposure, secure funding, and take their ventures to the next level.
Celebrating Innovation: The 2025 Winners
The competition saw a wide range of ventures, all aiming to solve some of the world’s most pressing challenges. Here’s a look at the winning ventures from this year’s competition:
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Student Business Track Winner: This track honours participants with the Dubilier Prize, established in 1998 by Clayton, Dubilier & Rice, a global private investment firm.
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Student Social Enterprise Track Winner: This prize acknowledges ventures focused on creating social impact, addressing issues such as global health, education, and sustainability.
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Alumni New Venture Track Winner: Recognising alumni ventures, this track highlights HBS’s long-term commitment to supporting lifelong entrepreneurs who continue to shape industries long after graduation.
In addition to the $315,000 in cash prizes, the winners also receive in-kind prizes, including tools and services provided by Harvard Innovation Labs, HubSpot for Startups, Wix, Foley Hoag, and the Foundry at Harvard Business School. These in-kind donations provide the winners with the support they need to move forward with their ventures.
A Platform for Students to Test and Refine Ideas
One of the primary benefits of participating in the HBS New Venture Competition is the opportunity to test business ideas in a real-world environment. According to Thara Pillai, Director of the Rock Center for Entrepreneurship, the competition embodies the entrepreneurial spirit of HBS by offering a platform to turn bold ideas into real ventures.
Students get to refine their business models, strengthen their pitches, and engage with investors and mentors to perfect their strategies. It’s a crash course in entrepreneurship, offering valuable lessons that are difficult to replicate in a classroom setting. Jana Kierstead, Executive Director of MBA and Doctoral Programs, added that more than 50% of HBS alumni start their own companies, proving that entrepreneurship is not just a part of the curriculum at HBS—it’s woven into the fabric of the school’s identity.
The Power of Social Enterprise: Addressing Global Issues
This year, the Social Enterprise Track highlighted several ventures tackling important social issues, ranging from healthcare to environmental sustainability. As Amelia Angella (MBA 2001), Director of the Social Enterprise Initiative, put it, “Meaningful progress on social issues depends in large part on the entrepreneurialism and energy of the next generation.” The NVC provides students with the tools to bring their social impact dreams to life while offering an unparalleled learning experience.
Through this track, students not only test their business ideas but also receive feedback from experts in the impact investing and philanthropy sectors, enabling them to refine their strategies for creating sustainable and scalable solutions to global challenges.
Entrepreneurship at the Heart of HBS
HBS has long been recognised as a leader in fostering entrepreneurship. Professor Christina Wallace, Senior Lecturer in the Entrepreneurial Management Unit, noted that the New Venture Competition is one of the most exciting parts of the year because it showcases the creativity, ambition, and hustle of the HBS community.
For students, the competition provides a rare opportunity to stress-test their business ideas and see how they fare in front of seasoned investors and entrepreneurs. It’s not just about winning—it’s about learning, growing, and gaining invaluable insights that will help future founders become successful entrepreneurs.
Conclusion: Shaping the Future of Entrepreneurship
The 2025 HBS New Venture Competition has once again proven to be a critical platform for emerging entrepreneurs and social impact leaders. With its combination of mentorship, funding, and resources, it empowers the next generation of innovators to make meaningful changes in the world. Whether they are focused on business or social impact, the participants in this competition are poised to leave their mark on the future of entrepreneurship.
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Photo credit: Harvard Business School
