Heartland Challenge sees record number of applications
Johns Hopkins University has one-fourth of the 12 finalists.
For the second straight year, medical and biotechnology start-ups dominate the field for the Heartland Challenge, which will welcome 12 teams from across North America to Bentonville, AR next month as they compete for a prize pool of nearly $100,000.
Designed to simulate the process of raising venture capital for a high-growth enterprise, the Heartland Challenge is a global, graduate student startup competition established by the University of Arkansas and overseen by the University’s Office of Entrepreneurship and Innovation (OEI). Since its inception, the Heartland Challenge has awarded nearly $588,500 in prize money since it was first held virtually in spring 2020.
A record 133 teams submitted applications for this year’s event, which will be held April 3-5 in downtown Bentonville at the Ledger. The final round will be live-streamed and open to the public.
“Each year, the Heartland Challenge attracts some of the most promising student-led startups, and this year is no different,” said Deb Williams, OEI’s Senior Director of Operations and Student Programs. “We had a record number of applications, which speaks to the competition’s growing reputation and impact. We’re thrilled to welcome these teams to Northwest Arkansas and showcase the innovation emerging from graduate programs across North America.”
The competition is hosted again this year by the Sam M. Walton College of Business with generous primary support from the Walton Family Charitable Support Foundation. The competition’s presenting sponsor is Arkansas Capital Corporation.
“The support from these sponsors makes this premier competition possible, providing student entrepreneurs with a platform to showcase their ventures and connect with investors,” Williams said.
The overall winner will collect $40,000. The second-place team will receive $20,000; third place, $10,000; fourth place, $5,000; and fifth place, $1,000. First and second place winners in the elevator pitch competition — decided by an audience vote — win $3,000 and $2,000, respectively. There will also be three Investor Roundtable Awards worth $3,000 each.
Johns Hopkins University had the most finalists with three teams. To see the finalists, click here.
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