Please ensure to complete your application before the deadline. If an applicant misses the deadline for any reason, their application will not be considered. Please factor in enough time to ensure there are no obstacles, technical or otherwise, before the deadline.
The Startup Challenge provides a comprehensive platform to help Penn student entrepreneurs and their teams progress their businesses. Teams compete for a chance to pitch to a live audience at the Startup Showcase and to win cash and in-kind prizes from an award pool of over $150,000.
Startup Challenge FAQ
What are the responsibilities of the Lead Applicant of a venture that advances to the Semifinals and/or Finals of the Startup Challenge?
- Be the lead presenter for the Semifinals and Finals as applicable
- Attend all required information sessions, pitch preparation and/or coaching, advising sessions, and all other activities as required by Venture Lab.
- Note that the Semifinals will be held on Friday, March 21, 2025 and the Finals will be held on Friday, May 2, 2025. Finalist teams are required to participate in the Finals in person in Tangen Hall.
Will Venture Lab, the Startup Challenge staff, or any judges/mentors/volunteers related to the Startup Challenge share information with anyone other than the Lead Applicant?
- The Venture Lab staff, Startup Challenge staff, or any judges/mentors/volunteers related to the Startup Challenge will only communicate with the Lead Applicant regarding the Startup Challenge. It is the Lead Applicant's sole responsibility to communicate relevant details with the rest of their team.
Am I allowed to change or pivot my venture idea after I submit an application to the Startup Challenge?
- If the venture has significantly changed after submitting an application to the Startup Challenge, the venture may not be eligible to progress through the competition. If you believe this applies to you, please contact Venture Lab at venturelab@upenn.edu immediately with details about your situation.
Can the Lead Applicant on an application change after the application is submitted?
- No, the Lead Applicant on an application cannot be changed after the application is submitted. If a Lead Applicant leaves the team or decides to withdraw the application from the competition, then the application/venture is no longer eligible to compete. The Lead Applicant should be considered the CEO of the venture, so teams are encouraged to chose their Lead Applicant wisely.
Does a venture need to be incorporated?
The award funds granted to the winners of the Perlman Grand Prize and the William G Simpson and R. Drew Kistler Startup Challenge Award (Runner-Up) are required to be paid to the ventures' corporate entities. The ventures must be an incorporated entity and have an EIN before the award funds distribution process can begin. Please note, it can take several weeks to several months to incorporate and receive an EIN, so it is recommended that founders begin the process in advance.
Other than the winners of the Perlman Grand Prize and the William G Simpson and R. Drew Kistler Startup Challenge Award (Runner-Up), no other applicants or winners of Startup Challenge Prizes need to incorporate their ventures.
Is there a minimum or a maximum number of team members allowed on a venture’s team?
You can have as many, or as few, people as you want on your team. Teams led by 1 person are allowed, as long as the Lead Applicant meets all eligibility requirements.
Can I participate on more than one team?
Yes, you can participate as a member on more than one team. Note that you can be the Lead Applicant for one team only.
If I previously won an award through the Startup Challenge, can I reapply with the same venture?
- Ventures that won the Perlman Grand Prize are not eligible to complete in future Startup Challenges.
- Ventures that won any other Startup Challenge prizes are eligible to compete, as long as the venture and Lead Applicant meet all eligibility requirements.
- Ventures that won a Summer Venture Award from Venture Lab are eligible to compete in the Startup Challenge but are not eligible to receive another Summer Venture Award.
Can I contact the Startup Challenge judges during the competition? Can judges receive information about the applicant, team, or venture outside of the Startup Challenge competition structure and process?
- The Startup Challenge and its associated competitions have three rounds – Round One, Semifinals, and Finals. Prior to and during each round, participants are not permitted to contact the judges with the purpose of influencing the judging process. Any such action will result in the disqualification of the applicant and their team and venture from the Startup Challenge. Judges and participants who have a prior relationship are expected to recuse themselves from that particular judge-participant match-up. Participants are permitted to contact judges once the judging for the round in which they are participating has closed, if the judge has agreed to share his/her contact information.
What prizes can a team win through the Startup Challenge?
- For a full list of prizes, please go to https://venturelab.upenn.edu/startup-challenge-prizes.
What are the specific eligibility requirements for the Summer Venture Award?
- In addition to meeting all other eligibility requirements, the Lead Applicant must fulfill the following requirements -
- Currently enrolled bachelor’s, master’s, or doctoral degree candidate student at the University of Pennsylvania who is graduating in December 2025, May 2026, or August 2026.
- The summer in which you receive the Summer Venture Award must be your final summer internship period at the University of Pennsylvania.
- The Lead Applicant must agree that they will work on the awarded venture full time (at least 40 hours per week) for the summer (June 2025 through August 2025). Winners of the Summer Venture Award are permitted to engage in other paid work on a part-time (no more than 20 hours per week) basis.
- The Lead Applicant must opt-in to competing for a Summer Venture Award and the venture must be selected as a Semifinalist in the Startup Challenge.
Do any of the other prizes granted through the Startup Challenge have specific requirements?
- Prizes offered in collaboration with other organizations at the University of Pennsylvania (the AI at Wharton Award and The Climate Award) have their own requirements and processes. The Lead Applicant must opt-in to competing for these awards and is required to submit additional information.
- For details about awards granted through the Startup Challenge, including specific eligibility requirements, go to https://venturelab.upenn.edu/startup-challenge-prizes.
2024-2025 Startup Challenge
Please ensure to complete your application before the deadline. If an applicant misses the deadline for any reason, their application will not be considered. Please factor in enough time to ensure there are no obstacles, technical or otherwise, before the deadline.
The Startup Challenge provides a comprehensive platform to help Penn student entrepreneurs and their teams progress their businesses. Teams compete for a chance to pitch to a live audience at the Startup Showcase and to win cash and in-kind prizes from an award pool of over $150,000.
Startup Challenge FAQ
What are the responsibilities of the Lead Applicant of a venture that advances to the Semifinals and/or Finals of the Startup Challenge?
- Be the lead presenter for the Semifinals and Finals as applicable
- Attend all required information sessions, pitch preparation and/or coaching, advising sessions, and all other activities as required by Venture Lab.
- Note that the Semifinals will be held on Friday, March 21, 2025 and the Finals will be held on Friday, May 2, 2025. Finalist teams are required to participate in the Finals in person in Tangen Hall.
Will Venture Lab, the Startup Challenge staff, or any judges/mentors/volunteers related to the Startup Challenge share information with anyone other than the Lead Applicant?
- The Venture Lab staff, Startup Challenge staff, or any judges/mentors/volunteers related to the Startup Challenge will only communicate with the Lead Applicant regarding the Startup Challenge. It is the Lead Applicant's sole responsibility to communicate relevant details with the rest of their team.
Am I allowed to change or pivot my venture idea after I submit an application to the Startup Challenge?
- If the venture has significantly changed after submitting an application to the Startup Challenge, the venture may not be eligible to progress through the competition. If you believe this applies to you, please contact Venture Lab at venturelab@upenn.edu immediately with details about your situation.
Can the Lead Applicant on an application change after the application is submitted?
- No, the Lead Applicant on an application cannot be changed after the application is submitted. If a Lead Applicant leaves the team or decides to withdraw the application from the competition, then the application/venture is no longer eligible to compete. The Lead Applicant should be considered the CEO of the venture, so teams are encouraged to chose their Lead Applicant wisely.
Does a venture need to be incorporated?
The award funds granted to the winners of the Perlman Grand Prize and the William G Simpson and R. Drew Kistler Startup Challenge Award (Runner-Up) are required to be paid to the ventures' corporate entities. The ventures must be an incorporated entity and have an EIN before the award funds distribution process can begin. Please note, it can take several weeks to several months to incorporate and receive an EIN, so it is recommended that founders begin the process in advance.
Other than the winners of the Perlman Grand Prize and the William G Simpson and R. Drew Kistler Startup Challenge Award (Runner-Up), no other applicants or winners of Startup Challenge Prizes need to incorporate their ventures.
Is there a minimum or a maximum number of team members allowed on a venture’s team?
You can have as many, or as few, people as you want on your team. Teams led by 1 person are allowed, as long as the Lead Applicant meets all eligibility requirements.
Can I participate on more than one team?
Yes, you can participate as a member on more than one team. Note that you can be the Lead Applicant for one team only.
If I previously won an award through the Startup Challenge, can I reapply with the same venture?
- Ventures that won the Perlman Grand Prize are not eligible to complete in future Startup Challenges.
- Ventures that won any other Startup Challenge prizes are eligible to compete, as long as the venture and Lead Applicant meet all eligibility requirements.
- Ventures that won a Summer Venture Award from Venture Lab are eligible to compete in the Startup Challenge but are not eligible to receive another Summer Venture Award.
Can I contact the Startup Challenge judges during the competition? Can judges receive information about the applicant, team, or venture outside of the Startup Challenge competition structure and process?
- The Startup Challenge and its associated competitions have three rounds – Round One, Semifinals, and Finals. Prior to and during each round, participants are not permitted to contact the judges with the purpose of influencing the judging process. Any such action will result in the disqualification of the applicant and their team and venture from the Startup Challenge. Judges and participants who have a prior relationship are expected to recuse themselves from that particular judge-participant match-up. Participants are permitted to contact judges once the judging for the round in which they are participating has closed, if the judge has agreed to share his/her contact information.
What prizes can a team win through the Startup Challenge?
- For a full list of prizes, please go to https://venturelab.upenn.edu/startup-challenge-prizes.
What are the specific eligibility requirements for the Summer Venture Award?
- In addition to meeting all other eligibility requirements, the Lead Applicant must fulfill the following requirements -
- Currently enrolled bachelor’s, master’s, or doctoral degree candidate student at the University of Pennsylvania who is graduating in December 2025, May 2026, or August 2026.
- The summer in which you receive the Summer Venture Award must be your final summer internship period at the University of Pennsylvania.
- The Lead Applicant must agree that they will work on the awarded venture full time (at least 40 hours per week) for the summer (June 2025 through August 2025). Winners of the Summer Venture Award are permitted to engage in other paid work on a part-time (no more than 20 hours per week) basis.
- The Lead Applicant must opt-in to competing for a Summer Venture Award and the venture must be selected as a Semifinalist in the Startup Challenge.
Do any of the other prizes granted through the Startup Challenge have specific requirements?
- Prizes offered in collaboration with other organizations at the University of Pennsylvania (the AI at Wharton Award and The Climate Award) have their own requirements and processes. The Lead Applicant must opt-in to competing for these awards and is required to submit additional information.
- For details about awards granted through the Startup Challenge, including specific eligibility requirements, go to https://venturelab.upenn.edu/startup-challenge-prizes.