LINCOLN, NE – Lieutenant Governor Joe Kelly awarded prizes to three teams of aspiring college entrepreneurs through the 2^nd Annual Nebraska Governor’s New Venture Competition. Awardees were announced during Thursday’s Nebraska Business Hall of Fame banquet at the Lincoln Marriott Cornhusker Hotel. Ten teams were selected as semi-finalists. The winners, prize amounts and a description of each project follow:

First Place: Golden Garden Compost, UNO, $20,000 prize

Golden Garden Compost creates premium organic compost for home gardeners using efficient production and innovative marketing to maximize profits.

Second Place: brAIn Rot, UNL, $15,000 prize

brAIn Rot is an educational platform that helps developers enhance their coding skills by solving real world puzzles and competing in coding contests.

Third Place: InfoFilm, UNL, $10,000 prize

InfoFilm helps share the impactful stories within the agriculture industry through videography, product photography, branding photography and social media management.

“This program is a great opportunity to publicize and support Nebraska-based ideas with world-changing potential,” said Lt. Gov. Kelly. “This year’s pool of finalists brought a variety of ideas to impact education, healthcare, agriculture, AI and other significant areas. They are risk takers willing to put in the long hours for the potential rewards of starting a new venture and watching it blossom.”

Governor Jim Pillen created the competition in 2023 to showcase and encourage student-led entrepreneurship. The competition is designed for contemplated and pre-seed businesses. Applicants must designate how their business falls into one of nine industry tracks: Agtech, Fintech/Insurtech, Cleantech, Advanced Manufacturing, Biotech/Healthtech, Emerging Media Arts, Sportstech, General Tech and the Bioeconomy. Submissions must have been received by Dec. 15, 2024.

This year, 15 teams – including undergraduate and graduate students – submitted proposals. Participating teams hailed from the University of Nebraska – Lincoln (UNL), University of Nebraska – Omaha (UNO), University of Nebraska – Kearney (UNK) and Metro Community College (MCC). The 15 teams made their initial pitch virtually to a panel of judges representing Flyover Capital, Nebraska Innovation Labs, Nelnet Ventures, Redbud VC and Tech Nebraska. Judges evaluated each project and whittled the group to 10 semi-finalists.

“Starting a business is hard enough but starting a business while also attending college is extremely challenging due to time constraints and academic obligations,” said Dan Hoffman, CEO of Invest Nebraska. “Nebraska’s entrepreneurial ecosystem of startup founders, funders, and service providers are excited to mentor and support these young teams as they begin their entrepreneurial journey.”

Semi-finalist teams were mentored leading up to their final project presentation yesterday during the Nebraska State Chamber of Commerce annual meeting. The judges, from Lincoln Partnership for Economic Development, MOVE Venture Capital, Nelnet, Nave Analytics, Nebraska Public Power District and Workshop, selected the awardees.

“I appreciate that Governor Pillen is prioritizing entrepreneurship as a key economic development strategy,” said Nebraska Department of Economic Development (DED) Director K.C. Belitz. “The New Venture Competition is a great way to showcase and encourage the inventiveness of Nebraska’s rising generation. Across the state, we’re building an entrepreneurial ecosystem to support young Nebraskans in turning their ideas into successful businesses.”

“Congratulations to the 15 teams of students who shared their ideas for pursuing an entrepreneurial opportunity and competed in the New Venture Competition,” added Nebraska Chamber President Bryan Slone.  “We’re always excited to support the next generation of Nebraska business professionals and it was exciting to watch these young entrepreneurs reach new heights.”

Sponsors for the New Venture Competition include the Nebraska Chamber of Commerce & Industry, Nebraska Public Power District (NPPD), Omaha Public Power District (OPPD), Invest Nebraska, Nebraska Diplomats, Nebraska Economic Developers Association (NEDA) and the Nebraska Department of Economic Development (DED).

For more information about the Governor’s New Venture Competition, visit the contest’s website: https://negovnewventure.com.