What You'll Gain
Coaching and Mentoring
Teams competing will receive access to expert coaching and mentoring throughout the competition via our Venture Initiation Program, ensuring a nurturing environment for your venture's growth.
Live Final
The very best Penn student entrepreneur teams will compete at our live final, pitching in front of a live audience to demonstrate that their startups are ready to become the next big thing.
Valuable Feedback
Receive invaluable feedback from our distinguished alumni judges, ensuring you gain insights to refine and elevate your venture.
Program Overview
Discover more than $200,000 in combined cash prizes, in-kind support, and additional resources, including:
- Perlman Grand Prize: $75,000
- Runner-Up (William G. Simpson and R. Drew Kistler Award): $50,000
- Additional awards include the AI for Business Award and Climate Award and in-kind awards.
The Summer Venture Award (SVA) is a $10,000 grant that provides financial support to Penn student founders over the summer in lieu of a full-time internship. Recipients must commit to working full-time on their venture during their final summer internship period at the University.
*Additional eligibility requirements applies.
*Additional eligibility requirements applies.
The Startup Challenge is open to all currently enrolled University of Pennsylvania students (any school or degree) that meets the rules & eligibility.
Interested? See if you're eligible to participate in the 2026 Startup Challenge.
Interested? See if you're eligible to participate in the 2026 Startup Challenge.
Competition Timeline
Semifinals
Live pitch event held virtually on Friday, March 20, 2026
Finalists announced early April
Finalists announced early April
Finals
Live pitch event held in person at Tangen Hall on Friday, May 1, 2026
Registration to attend live final opens in March
Registration to attend live final opens in March
Penn's Largest Entrepreneurship Competition is now open for application to all Penn student-founded startups with more than $200,000 in combined prizes and venture support up for grabs!
Deadline Sunday, January 11, 2026
Deadline Sunday, January 11, 2026
Startup Challenge FAQs
What is the Startup Challenge?
The annual Venture Lab Startup Challenge is Penn’s largest pitch competition, serving as a launch pad for student entrepreneurs for over 20 years. It provides a platform for Penn students to present their go-to-market strategies and innovative ideas, receive expert feedback from alumni judges, and compete for cash prizes and resources to grow their ventures.
What prizes can a team win through the Startup Challenge?
More than $200,000 in total awards:
- Perlman Grand Prize: $75,000
- Runner-Up (William G. Simpson and R. Drew Kistler Award): $50,000
- Additional awards include the AI for Business Award and Climate Award and in-kind awards.
What does the competition process look like and when are the major deadlines?
- Application: Application closes (Jan 11, 2026)
- Round One: Application review (Jan–Feb 2026)
- Semifinals: Virtual pitches (Mar 20, 2026)
- Finals: In-person at Tangen Hall (May 1, 2026)
Who’s eligible for this competition and what are the rules?
All currently enrolled Penn students are eligible to apply, regardless of school or degree program. Learn more about rules & eligibility.
Can I change my venture after submitting?
Major pivots may disqualify your team. If your idea changes significantly, contact venturelab@upenn.edu right away.
Our History
Over 20 Years of Entrepreneurial Excellence
Since 1998, University of Pennsylvania students have participated in a year-long challenge to found a business, originally known as the Wharton Business Plan Competition (WBPC). Established in the 2016-2017 academic year, the current Startup Challenge engages student founders and team members, connecting them with Wharton and Penn resources through Venture Lab (formerly Penn Wharton Entrepreneurship) programming and teaching the fundamentals of entrepreneurship along the way.
Participating judges, who are predominantly alumni and are all professionals in their fields, offer feedback and guidance. The Startup Challenge culminates in the Startup Challenge Finals, Venture Lab’s flagship event, bringing together successful entrepreneurial alumni with Penn student entrepreneurs, to showcase the best ventures from across Penn’s campus.
Latest News
Success Stories
Learn more about previous Startup Challenge Winners
PHILADELPHIA, MAY 02, 2025–The University of Pennsylvania’s Venture Lab is pleased to announce the 2025 winner of its annual Startup Challenge: Sync Labs, founded by Melanie Herbert, EE'25
5 Min Read
Jochi is an integrated management platform that enables secondary schools to effectively identify and support neurodiverse learners, ensuring no student is left behind.
1 Min Read
PHILADELPHIA, APRIL 16, 2024–The University of Pennsylvania’s Venture Lab is pleased to announce the winner of its annual Startup Challenge: Nirby, founded by Piotr Lazarek SEAS'25 W'25. Nirby is a real-time soil analytics and farmland management tool for large agricultural enterprises, leveraging satellite data and proprietary drone systems to deliver actionable insights within minutes. The tool enables up to 40% savings on fertilizer expenses and up to 15% increase in crop yields.
6 Min Read
Penn’s Venture Lab Startup Challenge awarded its 2022 prize to a sustainable and cost-effective water-testing startup. The venture, ToxiSense, was awarded at a ceremony on April 29, at Tangen Hall, Penn’s hub for student entrepreneurship and innovation.
PHILADELPHIA, May 4, 2020 – Penn Wharton Entrepreneurship (Now Venture Lab) is pleased to announce the winner of the fourth annual Startup Challenge, sponsored by Eric Aroesty, C’92: My Virtual Veterinarian, founded by Felicity Johnson (WG’20) and advised by John Hurst (WG’20, V’20). A virtual veterinary portal for pet owners, My Virtual Veterinarian makes it possible for pets to receive the care they need, when they need it. Due to the global health crisis surrounding COVID-19, Penn Wharton Entrepreneurship held the competition in a virtual setting on May 1 and 2, 2020, following the leadership of the University of Pennsylvania and The Wharton School.
PHILADELPHIA, May 6, 2019 – Penn Wharton Entrepreneurship (Now Venture Lab) is pleased to announce the winner of the third annual Startup Challenge, sponsored by Eric Aroesty, C’92: Aerate, founded by six Wharton and Penn Engineering undergraduate students. The Showcase was held on May 3, 2019, at the Wharton School on the University of Pennsylvania campus. Aerate’s novel, patent-pending air conditioner functions as a dehumidifier and air cooler up to 20x more efficiently than others in the market. Specifically designed for high-humidity environments, Aerate plans to bring this climate-friendly product to the Indian market to combat the growing need for cool air.
2025 Startup Challenge | Elevator Pitches & Award Ceremony
0:00 / 0:00
Video Companion
A powerful way to give back to Penn and Wharton.
As an alumni judge for the Startup Challenge, you enhance the entrepreneurial experience for today’s students and strengthen our entrepreneurial community. Judges provide quantitative scores and qualitative feedback to students at all levels (from freshmen to PhDs), from all Penn schools, and with any amount of entrepreneurial experience, as they work on their ventures.
Alumni judging for the 2026 Startup Challenge is invitational only.
As an alumni judge for the Startup Challenge, you enhance the entrepreneurial experience for today’s students and strengthen our entrepreneurial community. Judges provide quantitative scores and qualitative feedback to students at all levels (from freshmen to PhDs), from all Penn schools, and with any amount of entrepreneurial experience, as they work on their ventures.
Alumni judging for the 2026 Startup Challenge is invitational only.
Subscribe to the Venture Lab newsletters to get the inside track for the latest news, events, and exclusive opportunities.
