NJIT New Business Model Competition (NBMC)
Key numbers
Funding range
$3,000
Fellowship
Equity
None
Application
Annual
Regional
Last activity
2025
High confidence
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NJIT New Business Model Competition (NBMC)
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NJIT New Business Model Competition (NBMC)
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Program details
NJIT New Business Model Competition (NBMC)
Program Type
pitch-competition
Institutional Scope
Northern NJ (NJIT + regional colleges + community members). NJIT students compete for Hult Prize Nationals.
Description
Annual fall venture pitch competition run by NJIAC / Martin Tuchman School of Management. 17th year in 2025. Uses NAVC model (Need, Application, Value, Competition) for preliminary screening. Multiple tracks (student, community). 4 finalists per track present 7-minute pitches. Winners receive $3,000 Innovation Acceleration Fellowships and entry into NJIT Lean Startup Summer Accelerator ($25K value per team). Pre-competition training via Lean Startup Jumpstart.
Key Details
| Detail | Value |
|---|---|
| 17th year | 2025 |
| Prizes | $3K Innovation Acceleration Fellowships |
| Accelerator entry | Lean Startup Summer Accelerator ($25K value) |
| Eligibility | Northern NJ students + community members |
| Format | NAVC written prelim → 7-min live pitch finals |
| Finals | December (Campus Center Atrium) |
| Hult Prize | NJIT teams compete for Nationals |
Resources Provided
- Pre-competition training (Lean Startup Jumpstart)
- $3K fellowships for winners
- Free entry into Summer Accelerator
- Mentoring from NJIAC/MTSM faculty
Funding Details
$3,000 non-dilutive fellowships. Additional ~$25K value in accelerator programming.
Curriculum / Structure
Preliminary (4 NAVC questions) → Finalist selection (~4/track) → 7-min pitch + Q&A.
Eligibility
Current students at any Northern NJ college/university + Northern NJ community members (non-full-time students).
Related Programs
Additional research notesShow
Evidence
- 2026-06-23-njit-nbmc
- NJIT Entrepreneurship Research Report
News & articles
News articles and official sources documenting NJIT New Business Model Competition (NBMC) at New Jersey Institute of Technology.
2 sources
NJIT NJIAC
NJIT New Business Model Competition
NBMC official page and Lean Startup Summer Accelerator page. Documents 2025 cycle (17th year), $3K Innovation Acceleration Fellowships, eligibility, NAVC judging framework, and pathway to Hult Prize Nationals and Summer Accelerator ($25K value).
Read on NJIT NJIAC
NJIT NJIAC
NJIT Lean Startup Summer Accelerator
Official NJIT / NJIAC description of the Lean Startup Summer Accelerator. Documents the summer cohort for NBMC finalists and selected teams, customer-discovery training, and Innovation Acceleration Fellowships of about $3K. The page describes the program as about $25,000 of no-cost training per team.
Read on NJIT NJIAC