As we noted in January 2016, Hofstra University’s Center for Entrepreneurship and digital media holding company CPXi launched the 2016 Hofstra/CPXi Venture Challenge, which will help students transform innovative ideas into businesses by working through the early stages of venture creation. Students compete for a total of $50,000 over the course of the competition, including ‘Shark Tank’-style presentations and straight pitch contests.
Now, the semifinalists have been chosen. Hofstra’s Ginny Greenberg reports that:
“More than 30 teams participated last week in the Hofstra-CPXi Venture Challenge Semifinal Round, where aspiring student entrepreneurs presented ideas for products and businesses before a panel of accomplished judges. A select group of these students is moving forward in the competition, inching closer to a share of total undergraduate prizes of $30,000 and total graduate prizes of $12,000 that would help bring their business plans to fruition. The final competition will be held on April 21, 2016 at the Hofstra Northwell School of Medicine.”
Run under the auspices of Hofstra’s new Center for Entrepreneurship, which is led by Executive Dean Mark Lesko, the teams had two minutes to pitch their ideas to a panel of judges, which included Hofstra alumnus and Board of Trustee member Mike Seiman, CEO and founder of CPXi. They had an additional two minutes to field questions from the judges about product research, prototypes and competition in the field.”
Below are two examples from the semifinal competition.