Updated · Polsky Center for Entrepreneurship and Innovation · Jun 5
Phinorm, Morton Labs Split Record $435,000 at 19th Global New Venture Challenge
Updated
Updated · Polsky Center for Entrepreneurship and Innovation · Jun 5
Phinorm, Morton Labs Split Record $435,000 at 19th Global New Venture Challenge
1 articles · Updated · Polsky Center for Entrepreneurship and Innovation · Jun 5
Summary
$435,000 in total awards went to Chicago Booth Executive MBA-led startups, with Phinorm and Morton Labs tying for first in the 19th Global New Venture Challenge.
Phinorm received $185,000 for on-device drone detection software for defense sensors, while Morton Labs took $150,000 for computational infrastructure aimed at speeding fusion energy research.
Seven finalists pitched judges after completing the program’s classroom phase, and the Polsky Center said all participants received some investment, making final dollar amounts not strictly tied to placing.
The remaining prizes went to Aura Interactive at $40,000, TradeCampus at $30,000, and Flex, KLIQ Ventures and Lumana at $10,000 each.
The GNVC, launched in 2008 for Booth’s Executive MBA students across Chicago, Hong Kong and London, is one track of a startup accelerator whose alumni include more than 500 active companies.