Kevin Baler knows every business starts with an idea.
Baler, co-president of InNUvation, wanted to give people an opportunity to share these ideas “to get exposure and get some feedback,” the third-year biomedical engineering graduate student said.
The result is the InNUvation Monthly Pitch Challenge.
The challenge, which will hold its first competition Wednesday at 7 p.m., aims to provide aspiring Evanston and Chicago entrepreneurs the opportunity to network with others and get feedback on ideas.
It will be hosted at the Prairie Moon Bar and Grill, 1502 Sherman Ave., and feature free food and drink specials on a first-come, first-serve basis.
After an opening talk from an experienced entrepreneur, six people will deliver three-minute pitches to promote their business ideas, with two minutes for question-and-answer following the pitch.
There will be a three-person judging panel of business professionals and organizers within the Chicago community. At each event the judges will award $300 in prize money, and the audience will award their favorite $100.
Jonathan Rosen, the other co-president of InNUvation, wants people to bring a diversity of ideas to the events, he said. Rosen, a second-year Kellogg student, is also the external representative of InNUvation’s Kellogg Chapter.
“It’s not just about ‘Is this a billion dollar business?'” Rosen said. “We really want people from different areas or interests.”
Founded in 2003, InNUvation’s stated purpose on their website is “to kindle the entrepreneurial spirit by providing opportunities for education and idea-exchange, thus fostering commercialization and new venture formation.”
“It started to really connect people across campus,” Rosen said.
Traditionally, students might stay inside the bubble of their particular school, but InNUvation wants to bring together people with different skill sets and backgrounds to foster innovation, he said.
InNUvation also puts on the Venture Challenge, where half of each team must consist of NU students, and Entrepreneur Idol, which is a national student competition. These annual events also focus on entrepreneurship and innovation, each featuring thousands of dollars in prize money.
